In sync with the pulse of development since Doi moi (renewal) in 1986, Hanoi, the capital city of Vietnam, with its fundamental human resources and infrastructure, has risen to make significant contributions to the socio-economic development, including the industrial sector.

Production at MBT Electricity Equipment Company. Photo: Khac Kien/The Hanoi Times

Enterprises investing in manufacturing have formed several key sectors: electrical electronics, information technology, metallurgy, food processing, textiles, and footwear, among others.

Utilizing advantages

Over nearly 70 years of construction and development, Hanoi's industry has established major specialized industrial zones such as Hoa Lac High-Tech Park, the Hanoi Southern Supporting Industrial Park (HANSSIP), and many developing industrial clusters, providing platforms and workshops for manufacturing enterprises.

Currently, Hanoi's industry has developed over 30 sub-sectors with thousands of products. Enterprises with products recognized by the city as key industrial products operate in priority sectors and fields. Hanoi's competitive products have not only met the demand of the domestic market but have also rapidly increased their export value.

Notably, 12 enterprises are ranked among the top 500 in Vietnam, with 15 large enterprises generating annual revenues exceeding VND1 trillion (US$40.4 million). Many enterprises have focused investment on manufacturing semiconductor chips, semiconductors, products for electric vehicles, agricultural machinery, electronic components, aviation, and unmanned aerial vehicles with high technology, aiming to produce semiconductor chip products under the Vietnamese brand for global supply chains.

Hanoi's industry, with innovative and creative foundational enterprises, proudly contributes to the socio-economic development of the capital and the country. However, the city needs to make the most of its advantages and deserves the attention and favorable policies from the Party and State for its development, among which industrial development is essential.

The various resolutions and directives issued by the Party Central Committee, the National Assembly, and the Government over the years, especially the Capital Law which has been officially applied since July 1, 2013, and is being adjusted to suit the new phase, will provide momentum for breakthroughs and development in all fields, including the industrial sector.

In 2022, the Politburo issued a Resolution on the Direction and Tasks of Hanoi's Development until 2030, with a vision to 2045. An important highlight of the Resolution is the mission for the Government, authorities, and people of Hanoi and its enterprises to develop the economy with a GRDP growth rate during 2021-2025 higher than the national average, with a GRDP growth rate during 2026-2030 of 8 - 8.5% per year, and a GRDP per capita of US$12,000 - 13,000.

First, comprehensively and accurately take stock of the industrial sectors, clarifying the current situation, advantages, and difficulties.

Second, to re-plan the industrial sector areas, selecting advantageous sectors and fields for Hanoi's industrial development.

Third, to propose special incentives for the capital city integrated into the amended Capital City Law; specifically, materialize financial incentives, market access, new technology adoption, labor training, and recruitment... to support enterprises in the capital city to dominate and deeply engage in the production chain in Vietnam, the region, and the world.

Fourth, resolutely remove barriers and inconveniences for domestic and foreign enterprises, and introduce streamlined administrative procedures and a one-stop mechanism to facilitate enterprise development.

Fifth, to focus on supporting the development of the Hoa Lac High-Tech Park, HANSSIP, and consider them as two key drivers alongside industrial parks and clusters preparing for new investments to establish modern, specialized "hard" infrastructure, deeply interconnected production and business chains with standardized comprehensive standards for enterprises.

Sixth, the Government's development cooperation programs with industrial powerhouses such as Japan, South Korea, and the US  should be strengthened to maximize competition,  the ongoing shift in the global supply chain, and development orientations to promote cooperation, investment, and production in the capital.

Ultimately, to arouse national pride and love for the thousand-year-old capital, to protect, and support enterprises in harnessing all potentials, intellect, and resources... to participate in the development of industry, ancillary industry, high technology, and contribute to the socio-economic development of the capital city and the country as a whole.