Ho Chi Minh City sees strong growth in January - Ho Chi Minh City sees strong growth in January - Website Ho Chi Minh City
Ho Chi Minh City had a good start for 2015 with strong and stable growth in January, heard a regular meeting on January 23 of the municipal People’s Committee.
As of January 20, the city attracted 363.8 million USD in foreign direct investment (FDI), which was poured in 23 new and 8 underway projects. The capital amount was 15 times higher than the same time last year’s figure, said Thai Van Re, Director of the municipal Department of Planning and Investment.
Domestic investment also saw positive signs, with over 14.3 trillion VND (672.1 million USD) invested in local enterprises, he noted.
During the month, 1,386 new firms was licensed with a total registered capital of over 5.6 trillion VND (263.2 million USD) and 2,391 local enterprises poured a combined additional 8.7 trillion VND (498.9 million USD) into their business.
Le Hoang Quan, Chairman of the municipal People’s Committee commented that the surge in January’s FDI showed that investors were confident of the city’s investment environment.
In 2015, Ho Chi Minh City will strive to attract more FDI capital than last year’s 3.2 billion USD, he said, adding that this will pave the way for the city to fulfil its plan for the next five years.
At the same time, industrial growth in January was impressive with a 9.2 percent rise year on year, said Re, adding that an approximate 10 percent increase were seen in all four major industrial sectors of manufacturing and mechanics, electronics, chemicals-rubber-plastics, and food processing.
In February, as part of efforts to prepare for the upcoming Lunar New Year (Tet), the city will roll out a number of measures to ensure goods supply and price stability during the holiday, which will last from January 15-23.
Local enterprises have stocked 15.84 trillion VND (744.48 million USD) worth of goods, with the goal of keeping prices stable on the occasion.
Director of the Finance Department Dao Thi Huong Lan said the city will spend about 600 billion VND (28.2 million VND) to help disadvantaged people celebrate a warm Tet holiday.
In order to maintain the stable growth, Chairman Quan asked all departments and agencies to continue removing difficulties for businesses in an effective and timely manner, while strengthening control over prices and ensuring goods supply during Tet holiday.