The scene of the HCM City 20th People's Council Meeting that concluded on December 11 (Source: VNA)

Ho Chi Minh City (VNA) – The 8th People’s Council of Ho Chi Minh City concluded its 20th session on December 11 with the adoption of a resolution on the city’s economic-cultural-social targets for 2016.

Under the resolution, the city will strive for a gross regional domestic product (GRDP) growth of 8 percent, in which the proportion of the total factor productivity (TFP)’s contribution to the GRDP should be at least 35 percent.

The total social investment capital will be equal to 30 percent of the GRDP and the rate of trained labourers is 75 percent. The city also aims to generate 125,000 new jobs.

The urban unemployment rate will be maintained at 4.5 percent and cut the poverty rate by one percent according to new standards under the “sustainable poverty alleviation” programme during 2016-2020. All households will be supplied with clean water.

Another important mission the city pursues is to be one of top five localities in the Provincial Governance and Public Administration Performance Index (PAPI), the Provincial Competitiveness Index (PCI) and the Provincial Public Administration Reform Index 2013 (PAR-index).

The session also elected Vice Secretary of Ho Chi Minh City Party Committee Nguyen Thanh Phong as Chairman of the Municipal People’s Committee.

HCM City has fulfilled 23 of the 25 socio-economic targets for 2015 set by the council, posting stable and fair economic growth. Local gross domestic product this year grew by 9.8 percent from 2014, the highest year-on-year pace in three straight years.

The city raked in some 62.82 billion USD in export revenue and welcomed 4.6 million foreign tourists in 2015.-VNA