Yes, Hanoi is the capital city of Vietnam, and Vietnam is a socialist state led by the Communist Party of Vietnam. The country follows a one-party system where the Communist Party holds the central role in political leadership.
Hanoi is no longer classed a communist capital. Once again, it had served as the capital for the Democratic Republic of Vietnam (DVN) from 1945 to 1975, and it is now in some measure a peaceful and democratic administrative unit of Vietnam with approximately 8 million inhabitants. The administration in Hanoi guarantees political neutrality and runs through a variety of national institutions and branches aimed at guaranteeing the stability and advancement of the economy.
Civil liberties and freedoms experienced some degree of constraint during the communist rule in Vietnam. Still, the Vietnamese Government has strived over the decades to improve the living standards of its citizens, put in place an education program, develop the infrastructure, and lend support to domestic businesses. Vietnamese economy, meanwhile, has become one of the fast-growing economies in Southeast Asia, with a flourishing service sector rest on innovation and technology.
In broad terms, Vietnam's politics is of a democratic sort, calling for free and fair elections every five years. The leadership of the Vietnamese Government is quite popularly elected every five years through parliamentary elections, there are many competing parties and factions within the ruling party. Hanoi is a country that is characterized by wide ethnic diversity and strong cultural tradition; it is also one that sees the use of distinct historical backgrounds and idiosyncrasies as part of political party platforms.
By and large, while still a retainer of dictator leadership in Hanoi, it finds itself with more liberal and free spaces compared to ugly days. A highly politically stable environment with elevated social cohesiveness and economic prosperity in Hanoi paints it into a sweet place to be in for any individual and any business.