Source: Socialist Republic of Vietnam
The Party official made the remarks while chairing a meeting of the Hanoi Party Standing Committee on April 3 to review the city’s socio-economic development in the first quarter of this year and plans for the remaining quarters.
Hanoi posted economic growth of 3.72%, the lowest level over the past three years. Total export revenue in the three-month period also decreased by 18% compared to the same period last year.
However, budget revenue increased by 9.5% compared to the same period in 2019.
The Politburo member said that Hanoi should adjust its economic growth target to reach an economic expansion of 7.5% as set out in the first economic scenario or 6.42% as set out in the second.
He asked Hanoi to focus on promoting agriculture by restructuring crops and re-building pig herds towards an agricultural growth rate of at least 4.04% in 2020.
He also directed Hanoi to exert all effort in the fight against the pandemic while increasing spending on supporting enterprises, policy beneficiaries, and vulnerable people affected by it.