Ho Chi Minh City sees economic recovery
Ho Chi Minh City’s economy has continued growing stably in the first six months, recording positive changes in business production and State budget collection, according to the municipal People’s Committee.
A report released at the Committee’s June 23 meeting, shows the city’s total GDP was estimated at VND378.9 trillion (US$17.8 million), rising 8.2% over the same period last year.
The city collected VND121.91 trillion (US$5.73 million) for the State budget, equivalent to 53.87% of its target, up 14.9% against the same period last year. Of the total, VND67.8 trillion came from domestic operations and the rest remainder was from export.
According to Director of the municipal Department of Planning and Investment Thai Van Re, increase was seen in almost all income indicators as compared to those of the same period last year. Particularly, income from the economic sector rose 18.9%.
As of June 15, the city granted business licences to 11,189 enterprises with total registered capital of VND59.2 trillion (US$2.78 million), bringing the total investment to VND115.8 trillion, up 6% year on year, he noted.
It also attracted a total of US$1.08 billion in foreign direct investment (FDI), equivalent to 202% of the same period last year’s figure. Of the total, US$967 million poured in 169 new projects, while of US$110 million was added to 53 operational projects.
At the meeting, Chairman of the municipal People’s Committee Le Hoang Quan asked local agencies to apply comprehensive measures to fulfil all set targets for the year, focusing on stepping up disbursement.
He also urged local departments to review the prolonged property projects, while seeking new export markets for the city’s products.