Ho Chi Minh City’s economy grows 7.76 percent in six months

A corner of Ho Chi Minh City (Source: VNA)


HCM
City (VNA)
– Ho Chi Minh City’s gross regional domestic product grew
by 7.76 percent in the first half of this year, higher than the same period in
the past two years.

It
was unveiled during a meeting of the municipal People’s Committee on June 15 to
discuss the city’s socio-economic-cultural performance and the budget
expenditure and spending in the first half of the year, and major tasks for the
remaining months.

With
this growth, the city is likely to fulfill the set growth of 8.4 – 8.7 percent
this year, said Chairman of the municipal People’s Committee Nguyen Thanh Phong,
adding that the total State collection hit 173 trillion VND (7.52 billion USD),
or 49.5 percent of the yearly target.

The
services sector grew 7.38 percent while industry and construction expanded by
7.17 percent and agriculture up 5.93 percent.

Pham
Thanh Kien, Director of the municipal Department of Industry and Trade, said
the six-month industrial development index rose 7.5 percent year-on-year, the
highest in the past five years.

During
the period, there were more than 18,000 new businesses with a total registered
capital of upwards 227 trillion VND. The total registered and additional capital
topped 492 trillion VND, marking a 2.2-fold increase annually.

The
city also licensed 340 foreign-invested projects, mostly in the processing and manufacturing
industries, which doubled the city’s capital attraction of the previous period
in 2016 to 2.15 billion USD.

In
order to achieve set targets this year, the municipal authorities asked
departments and localities to clear obstacles to businesses by improving
business climate, reforming administrative procedures regarding taxation and
customs while perfecting start-up ecosystem and promoting start-up innovation.

The
city will also promote programmes on supply-demand, business-bank connectivity,
demand stimulation, and market stabilisation.-VNA



Link http://news.c10mt.com/search/label/vietnambreakingnews and http://news.c10mt.com


Links Topics : http://news.c10mt.com/2017/06/ho-chi-minh-citys-economy-grows-776.html