Hanoi holds major advantages over other peers thanks to its strategic location and the position as a transportation hub with a concentration of airports, train stations, and major ports.

Over the years, the local government has been pushing for drastic reforms and putting the people and enterprises at the center of its services.

Vietnam would accept a higher level of fiscal deficit to continue providing support for businesses.

The main objective of Hanoi’s economic recovery plan is to timely address the bottlenecks that are restricting business operation for the soon resumption of economic activities.

Banks’ profits are expected to decline by a total of VND20.6 trillion (US$908.3 million) until late 2021 due to business support schemes during the pandemic.