Hanoi authorities have decided to adjust the city’s GPD rate target down to 5.5-6 percent for 2009 based on socio-economic development forecast in the second half of this year.
At its 16th meeting on July 6, the Hanoi Municipal Party Committee said despite certain signs of recovery in socio-economic development, it is difficult to meet some targets as set by the municipal People’s Council, including a GDP growth rate of between 9.5-10 percent.
According to the municipal People’s Committee, the city’s GDP growth rate is likely to stand at 7.5-8 percent for the second half of this year, but the rate for the first six months stood at a record low 4.12 percent, promting the revision of the yearly target.
The low growth rate for this year was attributed to the development gap among the city’s areas following the expansion last year, unsynchronized policies and mechanisim, and losses from last year’s flooding.
In addition, the city’s authorities admitted their responsibility for ineffective management and implementation in some agencies as well as a lack of coordination among agencies.
The city’s Party leadership also discussed the master development plan for areas along the Red River, which is considered to have a great significance not only to the city, but also the whole country.
The project aims to improve the river section’s flow, ensuring safety during flooding season while facilitating socio-economic development and urban environment, contributing to improving living conditions for thousands of residents, and preserving cultural and historic values.
An estimated 170,000 people will have to relocate to make way for the project./.
At its 16th meeting on July 6, the Hanoi Municipal Party Committee said despite certain signs of recovery in socio-economic development, it is difficult to meet some targets as set by the municipal People’s Council, including a GDP growth rate of between 9.5-10 percent.
According to the municipal People’s Committee, the city’s GDP growth rate is likely to stand at 7.5-8 percent for the second half of this year, but the rate for the first six months stood at a record low 4.12 percent, promting the revision of the yearly target.
The low growth rate for this year was attributed to the development gap among the city’s areas following the expansion last year, unsynchronized policies and mechanisim, and losses from last year’s flooding.
In addition, the city’s authorities admitted their responsibility for ineffective management and implementation in some agencies as well as a lack of coordination among agencies.
The city’s Party leadership also discussed the master development plan for areas along the Red River, which is considered to have a great significance not only to the city, but also the whole country.
The project aims to improve the river section’s flow, ensuring safety during flooding season while facilitating socio-economic development and urban environment, contributing to improving living conditions for thousands of residents, and preserving cultural and historic values.
An estimated 170,000 people will have to relocate to make way for the project./.
