HCM City posts economic growth of 3.82% in H1

Ho Chi Minh City recorded growth of 3.82% in gross regional domestic product (GRDP) in the first half of 2022, according to its Statistics Office.

Product tax collection increased 2.03%, trade and services 4.83%, agriculture - forestry - fisheries 1.77%, and industry - construction 2.23%.

Notably, trade and services generated nearly VND99.66 trillion (US$4.3 billion) in revenue in June and almost VND556.49 trillion in the first six months, respectively rising 41.1% and 6.2% from a year earlier.

Such positive growth indicated that sectors are recovering well, especially trade and services, the Statistics Office said.

Meanwhile, the southern economic hub has welcomed nearly 216,000 international arrivals since the beginning of June, doubling the figure in the same period last year. The six-month number also surged 100% year on year to approximate 478,000, equivalent to 13.7% of this year’s target, the municipal Tourism Department reported.

More than 2 million domestic tourists have also come to HCM City this month, raising the H1 figure to over 11 million, up 43.1% year on year and equivalent to 61.6% of the target for 2022.

HCM City earned VND49.68 trillion in tourism revenue in H1, rising 29.9% and equivalent to 73.5% of the target.