In the first quarter, Hanoi's Gross Regional Domestic Product (GRDP) increased by 7.87 percent, a high in many years. However, residents also faced significant pressure as the Consumer Price Index (CPI) rose by 4.29 percent.
This afternoon, the Hanoi People's Committee held a press briefing on the socio-economic situation of Hanoi in the first quarter of 2026. Accordingly, despite the volatile global context, the capital's socio-economic situation still recorded many positive signs, alongside numerous challenges directly related to people's lives.
The biggest highlight was the 7.87 percent increase in Gross Regional Domestic Product (GRDP), a high in many years. However, residents are facing significant pressure as the Consumer Price Index (CPI) increased by 4.29 percent. The main reason is the sharp increase in world oil prices; for instance, gasoline increased by 28.09 percent, diesel by over 56 percent in March alone, leading to a simultaneous increase in prices of essential goods such as housing, electricity and water, food, and catering services.
A representative of the Hanoi People's Committee stated that in the coming period, the city will focus on implementing many practical solutions to develop the economy and activate the growth momentum of the service and consumption sectors.
Specifically, the city will pilot a controlled night time economy in Hoan Kiem and Tay Ho wards, expanding operating hours to create spaces for entertainment and increase income for businesses; and simultaneously digitize traditional markets intending to have at least 1,000 small traders apply QR codes and receive their first orders on digital platforms in major markets such as Dong Xuan, Long Bien, and Ha Dong.
Hanoi will conduct a comprehensive review of 420 non-budgetary projects and 342 delayed public investment projects to either resolve outstanding issues or reclaim them. At the same time, the city will accelerate the implementation of major developments, including the Olympic Sports City, the Red River landscape axis, and multi-purpose urban areas, ensuring effective land use and preventing waste of social resources.
