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Hanoi, Vietnam News About Hanoi, Vietnam Hanoi is the economic centre of northern Vietnam. Hanoi has the highest Human Development Index among the cities in Vietnam. Though representing only 3.6 percent of the country's population and 0.3 percent of the national territory, Hanoi contributes 15 percent to the national GDP and 45 percent of the Red River Delta's economy. Industrial production in the city has experienced a rapid boom since the 1990s, with average annual growth of 19.1 percent from 1991–95, 15.9 percent from 1996–2000, and 20.9 percent during 2001–2003. In addition to eight existing industrial parks, Hanoi is building five new large-scale industrial parks and 16 small- and medium-sized industrial clusters. The non-state economic sector is expanding fast, with more than 48,000 businesses currently operating under the Enterprise Law (as of 3/2007). Trade is another strong sector of the city. In 2003, Hanoi had 2,000 businesses engaged in foreign trade, having established ties with 161 countries and territories. The city's export value grew by an average 11.6 percent each year from 1996–2000 and 9.1 percent during 2001–2003. The economic structure also underwent important shifts, with tourism, finance, and banking now playing an increasingly important role. Hanoi's business districts are traditionally Hoan Kiem and the neighborhood; and a newly developing Trung Hoa Nhan Chinh in the South Western. Similar to Ho Chi Minh City, Hanoi enjoys a rapidly-developing real estate market. Together with economic growth, Hanoi's appearance has also changed significantly, especially in recent years. Infrastructure is constantly being upgraded, with new roads and an improved public transportation system. The rate of telephone users was 30 per 100 people in 2003. New urban areas are growing rapidly, with 1.5 million square metres of housing constructed during 1996–2000 and 1.3 million square metres built in 2003 alone. Other Major Cities:
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