15 June 2017

FDI capital to HCMC posts double year on year increase

That was reported at a meeting chaired by HCMC People’s Committee chairman Nguyen Thanh Phong this morning to review the city’s social, economic and cultural situations in the first six months this year.

Businesses’ newly registered and additional capital reached VND492,679 billion ($21.71 billion), increasing 2.2 times over the same period in 2016.

At the meeting, deputy chairwoman of the city Department of Planning and Investment Nguyen Thi Thu Hoa said that the city’s economic growth reached 7.68 percent, higher compared to 7.47 percent in the same period last year.

Of these, services account for 57.8 percent, industry and construction 23.8 percent, agriculture-forestry-fishery field 0.7 percent.

The city licensed 18,030 new businesses with the total registered capital of VND227,514 billion, up 10.5 percent in number and 57.5 percent in capital.

Chairman Nguyen Thanh Phong said whether the city will be able to establish an extra of 32,000 companies to get the target of having 50,000 businesses this year.

In addition, he said that of the over 18,000 newly established, real estate enterprises account for up to 40 percent, the rate of production businesses was low.

He was dissatisfied with projects’ disbursement reaching only 32 percent for the last six months. He urged relevant agencies to define reasons and speed up the disbursing progress to meet capital demand for development investment.

During the last six months, the city still had some limitations such as complicated administrative procedures in some fields, asynchronous development between projects and social infrastructure, technical infrastructure connectivity shortage. Illegal construction still occurred in Districts 7, 9, Binh Chanh, Cu Chi, Nha Be and Hoc Mon.

Traffic jam has regularly occurred in many streets especially Xo Viet Nghe Tinh, Dinh Bo Linh, Cong Hoa, Nguyen Thi Dinh , Nguyen Tat Thanh and Nguyen Thi Minh Khai streets.

By staff writers – Translated by Hai Mien



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