HCM City posts impressive economic figures - HCM City posts impressive economic figures - Website Ho Chi Minh City
Despite disturbances against some foreign firms sparked by opportunists during May, Ho Chi Minh City has firmly overcome the problems and maintained its stable economic growth in the first five months of the year.
Le Hoang Quan, Chairman of the municipal People’s Committee, made the assessment at a May 26 meeting to review the city’s socio-economic development in the January-May period and put forth tasks for June.
The city’s total retail sales and service revenues in the first five months of this year increased by 12 percent year-on-year to 257 trillion VND ( 12.079 billion USD), said Thai Van Re, Director of the municipal Department of Planning and Investment. He noted that the city earned 11.7 billion USD from its exports in the reviewed period, a year-on-year rise of 5.4 percent.
Local budget collection posted 105.563 trillion VND ( 4.96 billion USD), equivalent to 46.65 percent of the year’s plan, he added.
By May 20, the city had granted investment permits to 120 FDI projects with a combined registered capital of 724 million USD, a year-on-year hike of 356.4 percent. Foreign investors added a combined capital of 68.8 million USD to 40 projects.
The increase in the economic indicators will create a boost to the city’s socio-economic development in June, Re noted.
In June, HCM City will continue handling difficulties for local businesses and promoting the connection and cooperation between the firms and commercial banks among other tasks.