Hanoi has the highest Human Development Index among the cities in Vietnam
Industrial production in the city has experienced a rapid boom since the 1990s, with average annual growth of 19.1 percent from 1991â€“95, 15.9 percent from 1996â€“2000, and 20.9 percent during 2001â€“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 1996â€“2000 and 9.1 percent during 2001â€“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. The metropolis's economy growth does not seem correlative to its infrastructure. Overloading population requires a much larger supply of accommodations, while the constructing celerities of both transport system and new urban areas are too low. Not surprisingly, as an effect of this problem, the apartment and real estate fever occur severely during the time. More widespread, the fever even influences Ha Tay, the neighboring province, considered the future development space of the capital. The current most notable new urban areas are central Trung Hoa Nhan Chinh, My Dinh, the luxurious zones of The Manor and Ciputra.
Agriculture, previously a pillar in Hanoi's economy, has striven to reform itself, introducing new high-yield plant varieties and livestock, and applying modern farming techniques.
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.