HCM City confident of fulfilling 2018 budget collection

HCM City (VNA) – Ho Chi Minh City is confident of fulfilling its 2018 budget collection goals, as its economy saw stable and positive development in the first three quarters of this year, according to Chairman of the municipal People’s Committee Nguyen Thanh Phong.

At a meeting on the city’s socio-economic performance on October 1, Phong said in the remaining three months of the year, the city must take drastic measures to achieve its socio-economic targets, especially by implementing seven breakthrough programmes and building a smart city.

In addition, the city is reviewing a planning adjustment plan and preparing to ask for the Prime Minister’s permission to complete a detailed planning scheme, he said.

Vice Chairman of the committee Tran Vinh Tuyen said departments and agencies should intensify digitalisation and information technology application, with at least one technological solution registered in each field by November.

According to a committee report, in the first nine months of 2018, the city’s gross domestic product (GDP) reached 903.6 trillion VND (38.78 billion USD), up 7.8 percent year-on-year while budget collection hit 269.1 trillion VND (11.5 billion USD), fulfilling 71.4 percent of the yearly plan and an increase of 9.8 percent compared to the same period last year.

Revenue from retail sales and services hit 769.3 trillion VND (33 billion USD), up 12.8 percent year-on-year, and export turnover reached 28.2 billion USD, up 7.7 percent.

The city welcomed 5.45 million foreign tourists during January-September, a surge of 21.2 percent over last year’s corresponding period.

HCM City lured 5.47 billion USD in total foreign investment in the first nine months, soaring 50 percent year-on-year.-VNA