Hanoi, Jan. 7 -- Hanoi is doubling down on fiscal discipline and wastefulness elimination as it chases a gross regional domestic product (GRDP) growth target of more than 11% in 2026.

Under the plan, average per capita income is set to hit 198 million VND (7,600 USD) a year, while state budget revenue is projected to stand at around 546.93 trillion VND. At the same time, the city is refining its institutional framework while preparing a capital master plan with a 100-year vision.

A key step is tighter control of state budget spending. In addition to a 10% cut in regular expenditures to create funding for salary reform, departments, agencies, and local authorities are required to save an additional 10% of regular expenditures to support ...