Hanoi experiences economic growth and retail expansion

Hanoi is demonstrating significant economic momentum driven by a robust service sector and infrastructure investment. The service sector grew by 10.33%, contributing 6.79 percentage points to the Gross Regional Domestic Product (GRDP). Key sectors such as finance, banking, and insurance saw a 12.5% increase, while science and technology rose by 11.86%. Additionally, international visitors increased by 25.7% over a nine-month period.

Infrastructure development remains a primary driver of this growth, with state budget investment capital increasing by 30.3% in the first nine months of the year. Strategic projects, including Ring Road 4, various bridges over the Red River, and urban railway systems, are being implemented to enhance long-term economic competitiveness.

In the travel retail sector, Vietnam Duty Free has inaugurated new stores at Noi Bai International Airport Terminal. As a partnership between three Vietnamese groups, the company aims to establish a domestic presence in a market historically dominated by international retailers.