According to Department of Planning and Investment, State budget revenue totaled at VND 154,000 billion in the first 5 months, equal to 45% of the plan, up 5% as of the same period. In 5 months, export value is estimated at US$ 14 billion, up 5.5% as of the same period. The city has maintained some key export goods such as rice (up 40%), fruit and vegetable (27%) and seafood (23%) to some markets like HongKong, Taiwan, Indonesia.

While, import value reached US$ 18 billion, up 7% as of the same period. Index of Industrial Production (IIP) increased by 6% as of the same period.

In term of tourism, in May, the city received 566,000 international visitors, up 37% as of the same period with average length of stay of 5 days and average spend of US$ 145/day. A total of 16,493 enterprises were newly established with total registered capital of VND 185, 517 billion. 23,582 enterprises registered for changing content of business with addtional capital of VND 145, 676 billion.

In term of FDI, the city attracted US$1.85 billion including capital from issuance of certificate of investment registration, capital contribution, etc. (up 34.7% as of the same period).

To trade, total retail sales and service revenue was estimated at VND 421, 938.6 billion, up 11% as of the same period, including an increase of 13% of retail sales as of the same period.

In his conclusion, Mr. Phong suggested Department of Industry and Trade to do research in each industry to propose policies and solutions for every type of enterprise, to organize seminar on development of key products. Accordingly, it is necessary to expand models of effective production. It is the responsibility of Department of Natural Resources and Environment to promote efficience of land use, while HCMC Hi-tech Agriculutral Zone Authority and Biotechnology Center of HCMC should take the initiative in linking farmers amongst districts to push up agricultural production.

Mr. Phong noted that Department of Planning and Investment pays attention to enterprise development, especially investment attraction. Every unit and agency proposes policies to create more efficient business and production environment. Departments of Natural Resources and Environment, Planning & Investment and relative agencies carry out the Directive of Standing Committee of HCMC Party Committee on land compensation, resettlement support.

Beside, relative departments and agencies focus on carrying out project of building HCMC into a smart city, building common date center and the open date ecosystem, constructing center for simulation, forecast on socio-economic development of the city, smart city management centre, information safety centre. Moreover, these units should soon complete the project of re-arranging public agencies, providing the rights of self-reliane and socialization on some fields; re-arranging project management board of HCMC; establishing specialized agencies of State capital management in HCMC.

Commenting on the fact that HCMC’s economy keeps growing but not towards sustainable development, Mr. Phong noted 04 challenges: rapid polulation growth causing pressure on urban infrastructure; management standard of the city mainly lies on model of “situation-handling” & shortcomings in urban forecast and administration; unsustainable economic growth; unsecure capacity of supplying services.

He mentioned that it is a must to create better business and production environment. “Through some external activities, we have drawn attention from many investors. Therefore,  when working with enterprises introduced by consulate general offices, it requires to conduct specific actions instead of just discussing”, added Mr. Phong.

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