Ho Chi Minh City sees economic recovery - Ho Chi Minh City sees economic recovery - Website Ho Chi Minh City
Ho Chi Minh City’s economy has continued growing stably, recording positive changes in business production and State budget collection, according to the municipal People’s Committee.
According to a report released during the Committee’s June 23 meeting, which reviewed the city’s socio-economic and cultural situation in the first half of 2014 and launched key tasks for the second half, the city’s total GDP was estimated at 378.9 trillion VND (17.8 billion USD), rising 8.2 percent over the same period last year.
In the period, the city collected 121.91 trillion VND (5.73 billion USD) for the State budget, equivalent to 53.87 percent of its target, up 14.9 percent against the same period last year. Of the total, 67.8 trillion VND came from domestic activities and the rest of 38.4 trillion VND 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 percent.
As of June 15, the city granted business licences to 11,189 enterprises with a total registered capital of 59.2 trillion VND (2.78 billion VND), bringing the total investment to 115.8 trillion VND, up 6 percent year on year, he noted.
Meanwhile, the city also attracted a total of 1.08 billion USD in foreign direct investment (FDI), equivalent to 202 percent of the same period last year’s figure. Of the total, 967 million USD were poured in 169 new projects, while of 110 million USD was added to 53 underway ones.
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.