HCMC economy at highest growth rate in the past 3 consecutive years - HCMC economy at highest growth rate in the past 3 consecutive years - Website Ho Chi Minh City
On June 24, HCMC People’s Committee hosted a meeting on socio-economic-cultural –defense – security situations in the first 6 months of 2014 and key assignments, solutions in the rest of 2015. Chairman of HCMC’s People Committee Le Hoang Quan and Vice Chairman Hua Ngoc Thuan attended.
According to report, Director of HCMC Department of Planning and Investment Thai Van Re said HCMC enjoyed a slight growth in the first 6 months of 2015; economic fields continue to increase contributing to the GDP growth of the city in 4 consecutive years.
Specifically, GDP in the first 6 months is estimated at VND 417,064 billion, up 8, 55% compared to previous quarter. This is the highest growth rate in the past 3 consecutive years. Service accounts for 59, 9% of GDP, up 9, 8%, industry-construction accounts for 39, 2% of GDP, up 6, 8%, agriculture accounts for 0, 9% of GDP, up 6%.
Retail sales and service turnover in June are estimated at VND 55,695 billion, up 1,7% compared to previous months and up 10,5^ compare to the same period. Totally, the retail sales and service turnover in the first 6 months reach VND 323,232 billion, up 10, 9% compare to the same period. Excluding price fluctuation, retail sales and service turnover increase by 10, 2% compared to the same period. It is a sign that market size is increasing month after month, commented by Mr. Thai Van Re.
Consumer price index in June increases by 0, 62% compared to previous month and 0, 23% compared to December 2014 and 0, 78% compared to June 2014. Price of essential goods is well controlled; the city has done a good job on stabilizing market, ensuring supply and demands of goods
Investment situation of domestic companies and foreign investment attraction is very positive. Compared to the same period, there is an increase in number of newly registered companies and a decrease in dissolved companies; foreign investment projects of increasing investment capital increase by 4, 2 times compared to the same period.
Budget collection and expenditure surpasses the plan. The currency market is stable contributing to macro-economic stabilization and economic growth recovery, causing a positive effect on banking activities and enterprises.
Planning, urban management is well-done. Infrastructure structure system is paid special attention. HCMC has timely allocated capital for project implementation, especially in fields of transport, education, etc.
Addressing at the meeting, Mr. Le Hoang Quan highly appreciated socio-economic results of HCMC in the first 6 months of 2015, especially budget income and expenditure, saying that this is a common effort of the whole political system, enterprises and people. Mr. Quan requested departments, agencies and localities continue to focus on implementing 10 key solution groups of HCMC in the rest of 2015 to achieve socio-economic targets and to prepare for socio-economic development plans in the next 5 years. Accordingly, all related departments and agencies have to strengthen contacts, grasp difficulties and obstacles of enterprises, introduce policies and mechanisms of the State, support enterprises to enhance competitiveness, renew technology, improve productivity and quality, promote brand names, expand market and enter into joint investment, etc.
Mr. Quan also requested departments, agencies, localities to organize big holidays in the last 6 months of 2015, ensuring absolute safety and successfully organize the Party Congress at localities, preparing for The Party Congress at higher levels and looking forward to The X Party Congress of HCMC and the XII National Party Congress.