Ho Chi Minh City maintains solid growth - Ho Chi Minh City maintains solid growth - Website Ho Chi Minh City
Southern Ho Chi Minh City maintained solid growth during the first two months of this year, as declared in a meeting on February 26 reviewing its economic performance.
Specifically, the retail and service sectors raked in over 107.5 trillion VND (5.1 billion USD), up 11.7 percent from the same period last year.
During the Lunar New Year festival, up to 14,000 – 15,000 tonnes of goods flooded wholesale markets each day, including vegetables, cattle and fowl meat, seafood, and flowers.
Data revealed that there are 8,967 price-stabilised shops in the city, as well as 108 supermarkets and shopping malls, 448 convenience stores, and 127 markets.
The industrial production index expanded by 4.8 percent annually due to additional benefits implemented to bring labourers back to work soon after the holiday.
Dao Thi Huong Lan, Director of the municipal Department of Finance, informed that the city added over 46 trillion VND (2.1 billion USD) to the State budget, a yearly rise of 8.58 percent.
As of February 15, the city had reeled in 40 trillion VND (1.9 billion USD) in foreign direct investment, including 44 new projects worth 421 million USD.
Director of the municipal Department of Industry and Trade Le Van Khoa presented a more detailed analysis of the city’s economic status, saying that footwear exports hit 430.1 million USD, marking a 29 percent increase, while shipments of electronics and spare parts soared 72 percent to 586.7 million USD.
In the coming months, Chairman of the municipal People’s Committee Le Hoang Quan asked relevant agencies to clear business barriers, especially in capital, facilities and technology.
He requested additional incentives be introduced for businesses, including improved access to funding, to better their competitiveness.-VNA