Ha Noi's socio-economic development strategy through 2030 targets the development of a knowledge-based economy, with a priority on industries which apply advanced technology and generate high added value.
Under the strategy recently approved by the Prime Minister, Ha Noi would be a metropolitan with a population of about 9.2 million by 2030 with an annual growth in gross domestic product (GDP) averaging about 10 per cent.
GDP-per-capita would increase ten-fold to about US$17,000 per year.
The services sector would grow at the highest rate annually, at between 9.5 per cent and 10.5 per cent, and employ up to 60 per cent of workers in the city by 2030.
The proportion of workers in manufacturing and construction would reach 35 per cent, while the percentage of agricultural workers would fall to only 5 per cent. The resulting service-based and industrialised economy would maintain an unemployment rate of below 4 per cent.
Whether the goals could be achieved would depend on many factors, said the head of the Ha Noi Institute for Socio-Economic Development's Economic Research Division, Nguyen Minh Phong.
One of the most important factors was whether the city could successfully develop a co-ordinated transport infrastructure that would ease current traffic congestion and promote economic development, Phong said.
The city also needed to focus on promoting the application of advanced science and technology in production to increase the quality and competitiveness of the city's industries while protecting the environment, he said.
High-quality services such as banking, insurance, telecommunications, public transportation and tourism would also play key roles in the city's economy, he added.
It was estimated that the city would need investment of $190 billion in the next decade, and another $320 billion during 2020-30, to reach these goals.