HCM City keeps up efforts to fulfil yearly targets

A corner of HCM City (Photo: VNA)

HCM City (VNA) – Ho Chi Minh City has basically fulfilled socio-economic targets for the first three quarters of 2018 but efforts must be kept up if the city wants to meet the yearly goals.

According to Director of the city’s Department of Planning and Investment Su Ngoc Anh, the nine-month GDP totalled 903.6 trillion VND, a 7.8 percent growth from the same period last year, while budget collection reached 269.1 trillion VND, up 9.8 percent.

Total retail and service revenues in the period stood at 769.3 trillion VND, an increase of 12.8 percent. Export earnings were 28.2 billion USD, up 7.7 percent while spending on imports were 34.8 billion USD, up 10.5 percent.

The city attracted 5.47 billion USD in foreign investment, and welcomed 5.45 million foreign visitors in the nine months.

In the remaining time of the year, the municipal People’s Committee has instructed the trade and investment promotion centre to continue supporting local businesses in expanding both domestic and export markets. The centre is also asked to intensify promotional efforts to attract investment in projects within the city’s seven breakthrough programmes, four key industries and nine priority services.

Amidst concerns about the impacts of the US-China trade war, local economists said the city should keep close watch of the situation in order to take timely responding measures.

Chairman of the municipal People’s Committee Nguyen Thanh Phong said the city will provide support in the form of policies on land, science-technology, credit access and administrative procedures for local businesses with a view to promoting the private sector to become an important driving force for the city’s economy.-VNA