Tan Cang-Hiep Phuoc seaport (Source: VNA)
HCM City (VNA) – Ho Chi Minh City posted strong economic growth in the first two months of this year, according Vo Van Hoan, Office Chief of the municipal People’s Committee.

Speaking at a press conference on February 29 to review the city’s socio-economic situation, culture, national defence and security in January and February, and roll out key tasks for the next month, Hoan said the southern metropolis’s total retail sales were estimated at nearly 121 trillion VND (5.4 billion USD), up 11 percent year-on-year.

In February alone, the figure stood at over 56 trillion VND (2.52 billion USD). This month’s consumer price index (CPI) increased 0.05 percent over the previous month, he added.

The CPI remained lower than the average national figure, he said, attributing the result to great efforts by municipal leaders and businesses in market regulation, especially during the Lunar New Year (Tet) holiday.

The locality’s export turnover, excluding crude oil, has been estimated at 3.9 billion USD so far this year, representing a rise of 8.2 percent against the same period last year. Meanwhile, its import revenue hit some 4.7 billion USD, a year-on-year increase of 5 percent.

During the reviewed period, HCM City welcomed nearly 902,000 international visitors, up 7.6 percent over the corresponding time last year, and earned nearly 17.3 trillion VND (778.5 million USD) from the tourism sector, up 7.6 percent year-on-year.

The city’s industrial development index edged up 5.7 percent against the same period last year.

More than 3,600 domestic businesses registered to establish, while 90 foreign projects received investment licences with a total capital of 155.9 million USD.

The municipal People’s Committee said that in March, the city will employ solutions to speed up production, remove difficulties facing enterprises and improve the investment environment in order to lure more domestic and international resources.

At the same time, the southern metropolis will lay out measures to raise the capacity of local retail businesses to meet the market’s demands in the context of international integration, the committee noted.

To meet these goals, the city plans to hold two working sessions with domestic and foreign enterprises to help them solve problems, Hoan said.-VNA