Ho Chi Minh City faces difficulties in the export field in the remaining months of this year due to general difficulties in the country’s economy and the global economic crisis.

The information was revealed by representatives from the municipal People’s Committee at a meeting held on October 29, which was held to review the city’s socio-economic development in the first ten months of this year.

According to Thai Van Re, Director of the municipal Department of Planning and Investment, the city’s total turnover from goods retail and services in October reached over 52 trillion VND (about 2.4 billion USD), bringing total turnover of the fields in the first ten months of this year to more than 493 trillion VND (over 23 billion USD), a year-on-year increase of 12.2 percent.

Meanwhile, export turnover for the ten-month period in the city was estimated at 21.7 billion USD, down 6.8 percent against the same period last year.

Shrinking value added of several export commodities such as farm products and seafood were the major causes behind the fall in export turnover.

Dao Thi Huong Lan, Director of Ho Chi Minh City Department of Finance, said in the reviewed period, the city’s total budget collection was estimated at over 186 trillion VND (over 8.7 billion USD), reaching 78.8 percent of the budget forecast and representing a growth of 8.3 percent compared to the same period last year.

Speaking at the meeting, Tran Anh Tuan from the Ho Chi Minh City Institute for Development Studies said the city’s 10-month industrial development index saw a 5.9 percent rise but the four key industrial sectors only registered an increase of 5.5 percent, despite the city giving many priorities to the sectors.

In past months, transport and tourism sectors saw high growth, thus contributing to pushing the city’s growth, Tuan noted.

He stressed that it is necessary to expand price stability programmes of essential goods in the final months of this year, while promoting the disbursement of investment projects.

The city’s authorities should also boost coordination between the restructuring of the banking sector, enterprises and public investment, he added.-VNA