Hanoi’s Department of Statistics has released its 2025 socio-economic report, revealing that the capital city achieved an impressive 8.16% economic growth rate (GRDP) for the year. The report highlights that Hanoi’s GRDP reached a substantial $63 billion, ranking it as the second-largest economy in the country—a remarkable and commendable achievement.
Focusing on the industrial sector, statistics show that the industrial production index increased by 7.2% in 2025 compared to 2024. This marks the highest growth rate since the COVID-19 pandemic. The manufacturing industry played a pivotal role in driving macroeconomic growth, with a 7.18% increase in added value (up from 5.37% in 2024), contributing 0.85 percentage points to the city’s overall GRDP growth.
The report underscores a notable trend in 2025: a 1.0% decrease in labor utilization among industrial enterprises compared to the previous year . This decline is attributed to Nitori Vietnam and VinSmart Research and Production Company relocating parts of their production lines to their branches in Phu Tho and Hai Phong.
In Hanoi, VinSmart Research and Production Company (a subsidiary of Vingroup) inaugurated Phase 1 of its Electronics Manufacturing Complex in the Hoa Lac High-Tech Park in November 2019. At the time, this complex represented a vast ecosystem of products, including smartphones and smart electronic devices, serving as a hub for modern technology production.
The VinSmart Electronics Manufacturing Complex spans nearly 14.8 hectares, with a total capacity of 125 million devices per year.
Phase 1 of the complex, constructed on nearly 4.8 hectares with a production floor area of 45,200 m², is divided into zones for printed circuit board manufacturing, smartphone production, and independent research institutes. The design capacity of Phase 1 exceeds 26 million devices per year, including an estimated 23 million smartphones, 1 million IoT devices, and over 2 million other smart electronic devices annually.
In May 2021, Vingroup officially announced that VinSmart would cease research and production of televisions and mobile phones to focus resources on developing electronic products and “Infotainment” features for VinFast automobiles.
Mr. Nguyen Viet Quang, CEO of Vingroup, stated, “Producing smartphones or smart TVs no longer offers breakthrough potential or unique value for users.” The failed acquisition of LG’s factory also contributed to Vingroup’s decision to exit this sector.
Additionally, in July 2025, VinSmart reduced its charter capital from VND 35,795 billion to VND 20,795 billion, a decrease of VND 15,000 billion.
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