Hanoi targets 11% GRDP growth through SME support and reform

Hanoi is targeting an average GRDP growth rate of at least 11% per year during the 2026-2030 period. To achieve this, experts emphasize the need to accelerate resource circulation and resolve bottlenecks for small and medium-sized enterprises (SMEs).

Mac Quoc Anh, Vice President of the Hanoi Association of Small and Medium Enterprises (HANOISME), suggests that administrative reform should be treated as a direct economic policy. He notes that reducing processing times for investment, land, construction, and environmental procedures can effectively create financial resources for businesses without direct budget spending.

Additionally, SMEs are encouraged to shift from a heavy reliance on bank credit toward diversifying capital sources, including equity, long-term capital, and mergers and acquisitions (M&A). Strengthening local supply chains and meeting global value chain requirements regarding quality and transparency remain critical challenges for the city's business community.