Hà Nội is striving to develop many private economic models by the end of 2025, and improve business quality and efficiency of innovative enterprises.

Growth rate of Hà Nội's private economic sector is also set to be higher than the overall growth rate of the municipal economy.

This is part of a plan issued by the Hà Nội People's Committee to implement the Government's Action Programme on private economic development for the period 2023-25.

It aims to create favourable conditions for the private economy to have quick and sustainable development with growth in quantity, scale and quality of private firms. Those contribute to the gross regional domestic products (GRDP), create jobs and improve income of the people in the city.

The city also strives to have more than 439,000 enterprises by 2025 and 600,000 units by 2030. Of which, it will have 152,700 newly established enterprises in the period 2021-25.

To complete these targets, the municipal people's committee has deployed some key tasks and solutions.

It continues to improve mechanisms and policies with synchronous and consistent manners, creating a favourable investment and business environment for development and participation in market of the private economic sector; and promoting fair competition.

The city will develop infrastructure and increase ability approaching to resources of the private economy. It focuses on supporting the private economy to innovate technology, develop human resources and improve productivity.

In addition, it is necessary to improve the efficiency of State management for private economic development. — VNS