HCM City targets 10 pct growth in retail sales, export revenue

The meeting, which will run until December 7, will focus on approving a resolution on socio-economic tasks in 2013 and electing additional members for the city's People's Council.The People's Council Vice Chairman provided a briefing on the city's socio-economic situation and budget collection and spending in 2012.The city attained a GDP growth of 9.2% in 2012, 1.77 times higher than the national growth. Although the rate was lower than the figure in 2011 and 10% lower than the city's plan, it was a positive result particularly when taking into account the recent economic difficulties, he added.The city achieved 24 out…... [read more]

In a political reportdelivered at the 9th Party Congress of HCM City, Hai said the citytargeted an annual value-added growth of 13 percent for its servicesector; 11 percent for the manufacturing sector and 5 percent foragriculture. Hai said in 2015, the service,industrial and agricultural sectors would account for 57, 42 and 1percent of the city's GDP, respectively. Other targets contained in the report include maintaining the city's birth rate at less than 1.1 percent per annum. By the end of 2015, per capital income in the city will reach 4,800 USD compared with 2,800 USD in 2010. The city will…... [read more]

The target was set at a conference on the city’s socio-economic development plans and tasks in the 2011-2015 period, hosted by the Ho Chi Minh City People’s Council on March 10. In the next five years, HCM City will prioritise developing the service sector in an effort to raise its annual growth to 13 percent and become a significant service centre in Southeast Asia. The city also strives to reach a per-capita GDP of 4,800 USD in 2015.To reach the goal, the city will focus on nine major groups, namely banking-insurance, trade, tourism, transport service-port and storage, post-telecommunications-information technology-communications, real estate, consultancy-science-technology,…... [read more]

HCM CITY — Authorities in HCM City plan to reduce by 10 per cent this year the number of traffic accidents as well as traffic jams that last for more than 30 minutes, an official has said. Speaking at a meeting held last week, Nguyen Huu Tin, deputy chairman of the city People's Committee, said the target was feasible because 2012 had been chosen as the year of traffic safety. The municipal Party Committee would soon instruct departments and sectors to set up action plans and implement them early to observe 2012 as "Traffic Safety Year", he said. Concerned agencies…... [read more]

This is the highest economic growth thecity has reached since 2006, said Le Hoang Quan, Chairman of themunicipal People’s Committee, in a meeting to review the city’ssocio-economic situation in the first six months of this year. Of the GDP, the service sector accounts for 52.4 percent,up 10.8 percent year-on-year. Meanwhile, the industry and constructionsector which also recorded an increase of 11.3 percent makes up 46.6percent. The performance is partly attributed tothe city’s efforts to stabilise prices of essential goods, developtrading centres and encourage local people to buy local products, theChairman explained, adding that the city’s total retail sales andservice revenues…... [read more]

The target was pointed out in the city’s budget plan for 2015 issued by the HCM City government last weekend.In 2014, the total revenue of HCM City is estimated at VND226.3 trillion, or 0.53% lower than in 2013. Of the figure, domestic revenues are expected to contribute VND124.2 trillion, while some VND74.8 trillion will come from exports and imports, and VND27.3 trillion from crude oil.The total revenue this year to date has amounted to VND148.5 trillion, or 14.3% higher than the same period last year. Domestic sources generated VND 81.89 trillion and export-import tax collections contributed VND48.5 trillion, rising 17.2%…... [read more]

Illustration photo The city aims to raise budget collections by 18% to VND 233,000 billion. Chairman of the Municipal People’s Committee Lê Hoàng Quân announced the targets at a conference held in Hồ Chí Minh City on December 24 to implement the resolution set by the city’s Party Committee and People’s Council, and the government’s direction on socio-economic development tasks and the city’s budget for 2012.In 2012, the city will focus on restructuring its economy by promoting economic growth model and speeding up the implementation of the export promotion program. Hồ Chí Minh City will conduct a project to build…... [read more]

Steel plates produced in a HCM City factory. — VNA/VNS Photo Hoang Hai HCM CITY (VNS)— The HCM City administration has promised to implement a series of measures that will focus on the quality of economic growth rather than merely numbers.To achieve this, it will speed up a programme meant to support economic restructuring, focusing resources on technology-based sectors, products, and services, the Sai Gon Giai Phong (Literated Sai Gon) reports.Measures to improve the business environment and competitiveness of businesses will continue to be implemented.Administrative procedures will be simplified and the use of information technology will be stepped up for…... [read more]

Nhan Dan/VNA - The country’s largest economic hub, Ho Chi Minh City, has set a goal of achieving a GDP growth of 9.5-10% in 2014, 1.5 times higher than the national objective.  The goal was reconfirmed by Chairman of the municipal People’s Committee Le Hoang Quan at the 16th meeting of the Party Committee on December 4. To achieve that, it is important to accelerate the implementation of a programme to support economic restructuring, improve the business environment and raise the competitiveness of local enterprises, Quan said. The city’s GDP growth in 2013 is estimated at 9.3%, with GDP per…... [read more]

Ho Chi Minh City expects to receive at least 3.3 million foreign visitors in 2011, earning 48 trillion VND (2.4 billion USD), according to the municipal Department of Culture, Sports and Tourism. In the first nine months of 2010, the number of international arrivals to the city reached 2.2 million, representing a year-on-year increase of 13 percent. At this growth rate, the southern economic hub hopes to welcome the 3 millionth visitor in mid-December this year. HCM City targets 2.8 million foreign tourists this year but the real figure may exceed 3 million. The city’s tourism sector accounts for 60…... [read more]