Digital economy - new driving force for the capital's growth

Over the past time, Hanoi has always maintained the leading position in the country in terms of digital economy index. Digital economy is not only an inevitable trend but is also identified by the City as one of the important driving forces to promote economic growth.

Many breakthrough solutions have been deployed to promote development in this field.

Most businesses in Hanoi have adopted cashless payments. Photo: Internet

Promote digital business activities

In recent times, Hanoi has implemented the digital economy quite effectively. According to the Department of Digital Economy - Digital Society ( Ministry of Science and Technology ), in 2023, Hanoi's digital economic development index will reach 17.5%, of which the core digital economy accounts for 11.9% - higher than that of Ho Chi Minh City (8.6%). Research by the National Economics University also shows that the contribution of the digital economy to Hanoi's Gross Regional Domestic Product (GRDP) in 2023 will reach 23.5%, surpassing that of Ho Chi Minh City (nearly 10%) and the national average (9.7%).

The socio -economic report for the first 9 months of 2025 shows that the capital's economy continues to maintain strong growth momentum with many breakthrough indicators: GRDP increased by 7.92% over the same period; quarterly growth rates continuously improved - the first quarter increased by 7.52%, the second quarter increased by 8%, and the third quarter increased by 8.2%. These results create an important foundation for Hanoi to complete the economic growth target of 8% or more in 2025 and aim to achieve double-digit growth in the coming years. At the same time, the above indicators also clearly reflect the recovery and breakthrough of economic sectors, especially information technology, digital services and e-commerce.

Contributing significantly to the growth of the industrial production index (IIP), the processing and manufacturing industry continues to be a bright spot in Hanoi, clearly demonstrating the trend of increasing the application of technology and automation in production - the core factor in the digitalization process of the industry. Currently, the proportion of industry in Hanoi's economic structure accounts for over 60%, in which high-tech industries play a leading role, contributing to improving labor productivity. The city's state budget revenue reached 530.8 trillion VND, completing 103.3% of the estimate and increasing nearly 40% over the same period last year, showing the stability and outstanding development of economic activities. In addition, foreign direct investment (FDI) continues to be a bright spot, with large capital sources focused on high-tech fields.

Although there are no official figures on the proportion of the digital economy, Hanoi's high and stable GRDP growth rate in the first 9 months of 2025, along with the strong development of high-tech industries and services, shows that the digital economy is increasingly asserting its important role, making a large contribution to the total economic value of the capital. This is a solid foundation for Hanoi to aim for digital economic growth exceeding the national average.

At the end of September, the Hanoi People's Committee issued a Plan to implement the program "Digital booth - Enhancing the capital's merchants". The program is considered a breakthrough solution in developing Hanoi's digital economy, contributing to realizing the goal of bringing the proportion of digital economy in the city's GRDP to 30% by 2025 and 40% by 2030.

Much room for digital economic development

Sharing about the program "Digital booth - Enhancing the Capital's traders", the Hanoi Department of Science and Technology said that from now until December 15, the Department will coordinate with the Departments of Industry and Trade, Agriculture and Environment and businesses and business households to open "Hanoi Capital product booth" on the Shopee e-commerce platform.

During the pilot phase, Shopee Company Limited - the operator of this e-commerce platform - will bear all costs of developing the booth, thereby providing maximum support to production and business establishments. The city will also support trade promotion, training, advertising and communication to encourage consumers to choose products from the capital, while attracting more production and business establishments to participate in the program.

In addition, the Department of Science and Technology will connect local digital technology businesses to provide services such as digital signatures, electronic contracts, electronic invoices and product traceability for units participating in the "Hanoi Capital Product Booth", and at the same time encourage the application of special incentive policies to promote digital transformation in business activities.

Recently, in preparation for the National Digital Transformation Day on October 10, the Hanoi People's Committee assigned the Department of Industry and Trade to deploy the models of "Commercial Street 4.0 - Cashless" and "Digital Market" for small traders and business households. The city encourages payment via QR code, putting products on e-commerce platforms and digital business platforms, and promoting the application of digital technology in commercial activities of business households and farmers, contributing to expanding the digital economic space throughout the area.

According to experts, with the goal of high economic growth, in which the digital economy is the key driving force, Hanoi still has a lot of work to do. Commenting on growth targets, experts said that in addition to reviewing traditional growth, special attention should be paid to re-evaluating new growth drivers and potentials.

Associate Professor Dr. Bui Quang Tuan, Vice President of the Vietnam Economic Science Association, former Director of the Vietnam Economic Institute, emphasized that Hanoi's growth potential lies in the business sector that is expanding into new areas such as the digital economy. Hanoi has outstanding development potential compared to the general level of the country, especially in the fields of e-commerce, financial technology (fintech), and digital currency, thereby forming an innovation ecosystem that contributes significantly to growth. According to him, the City needs to strongly mobilize investment resources for science, technology and innovation, towards building a comprehensive innovation ecosystem. At the same time, Hanoi also needs to promote its role as a "locomotive" in education and training, developing high-quality human resources to serve the digital economic development of the Capital, the country and the region.

Associate Professor Dr. Nguyen Ngoc Son, Vice Rector of the School of Economics and Public Management (National Economics University), said that Hanoi needs to promote digital transformation in enterprises, and at the same time build a central information and data system on digital transformation for more effective management and support. With a complete data system, the City can operate this field on a larger and more accurate platform. In addition, he emphasized the need to promote administrative reform in digital economic and circular economic management, towards a smart, streamlined, disciplined, honest and creative public administration, thereby improving the effectiveness of state management. Hanoi also needs to focus on institutional quality and governance capacity, considering this a key factor to promote sustainable digital transformation.

Associate Professor Dr. Tran Dinh Thien commented that if Hanoi wants to create a breakthrough from new development capacity and motivation, it needs to develop Hoa Lac High-Tech Park to become a symbol and a leading locomotive. At the same time, Hanoi needs to develop human resources - creative intelligence, human resources in the era of high technology and artificial intelligence.

According to the Department of Science and Technology, Hoa Lac High-Tech Park has attracted 111 investment projects (including 96 domestic projects and 15 FDI ​​projects), with a total registered capital of about VND 115,830 billion. The park has implemented investment attraction activities to form an incubation and innovation ecosystem, typically the National Innovation Center (NIC - Ministry of Planning and Investment), the Northern Region Industrial Development Support Technical Center (Ministry of Industry and Trade), the High-Tech Incubation and Training Center, the SSI Research and Development Center, and the Hanoi Innovative Information Technology Business Incubator. This is an ecosystem for Hanoi to promote digital economic development in many new fields, bringing high value to Hanoi.

Source: https://hanoimoi.vn/kinh-te-so-dong-luc-moi-cho-tang-truong-cua-thu-do-719853.html