Hanoi has developed from a capital rebuilding after the war into one of Vietnam's main economic centres. The city is placing greater emphasis on science and technology, innovation and urban quality alongside economic growth.
Economic growth
October 10, 1954 was a turning point for Hanoi. After years of war, the capital had to restore production, stabilise people's lives and build the foundations of a peacetime economy. Industrial parks, new urban areas, banks, services, logistics and transport networks later expanded across the city and strengthened its links with the Capital Region, the Red River Delta and the rest of Vietnam.
In the third quarter of 2026, Hanoi's GRDP grew an estimated 10.02% from a year earlier, its first double-digit growth rate of the year and faster than in the previous two quarters. Over the first nine months, GRDP increased 8.85%, compared with 7.92% in the same period of 2025. At current prices, it neared 1.295 quadrillion VND, or 49.8 billion USD.
Services accounted for 67.64% of GRDP, industry and construction for 20.60%, and agriculture, forestry and fisheries for 1.91%. Service-sector added value rose 9.14% in the first nine months and contributed 6.15 percentage points to overall GRDP growth. Transport and warehousing grew 11.94%, finance, banking and insurance 10.41%, and wholesale and retail 10%.
Investment and infrastructure
Total development investment reached nearly 451.4 trillion VND in the first nine months, up 19% year on year. Investment from locally managed state budget funds was about 107.8 trillion VND, an increase of 81.2%.
The city is speeding up ring roads, bridges over the Red River, urban railways, transport links and flood-control projects. Hanoi has identified public investment and construction as growth drivers for the final months of 2026.
Foreign direct investment reached almost 4.067 billion USD in the first nine months, up 5.9% year on year. Hanoi licensed 500 new projects worth 676 million USD, while 113 projects added 691 million USD in capital. Foreign investors made 281 capital contributions or share purchases in Vietnamese companies worth about 2.7 billion VND. Professional, scientific and technological activities received about 2.243 billion USD, or 55.2% of the total.
Exports and budget revenue
Goods exports approached 16.861 billion USD in the first nine months, up 9.3% year on year. Exports by foreign-invested companies reached 7.742 billion USD, up 17.9%. Computers, electronic products and components generated about 2.555 billion USD, up 21.7%.
State budget revenue was estimated at 567.597 trillion VND, equal to 87.3% of the annual estimate and up 5.9% year on year. Domestic revenue exceeded 528.6 trillion VND.
The report said Hanoi is shifting from post-war industrial recovery toward high technology, semiconductors, the digital economy and research and development. It also said the city would need to use its economic resources to address traffic congestion, pollution, flooding, housing, schools, hospitals and public spaces.
Hanoi aims to base its next stage of development on science and technology, innovation and its workforce, with a focus on greener and more sustainable growth.
Sources: Vietnam News Agency / VietnamPlus
