Business

HCM City moves to expand export markets

Ho Chi Minh City is supporting exporters to expand their markets by holding trade and investment promotion activities in the remaining months of this year.
Ho Chi Minh City is supporting exporters to expand their markets byholding trade and investment promotion activities in the remainingmonths of this year.

Chairman of the municipalPeople’s Committee Le Hoang Quan made the statement while speaking at ameeting in the city on July 27 to review the local socio-economicsituation from January-July.

Quan said localleaders will help businesses to overcome difficulties related tocapital, premises and technology as well as improve administrativeformalities and develop the support industry.

Additionally, the city is intensifying inspections on a number ofinvestment projects to weed out and handle violations of theconstruction law, he added.

The official notedthat in the first seven months of this year, the city collected over 160trillion VND (7.33 billion USD) for the local budget, an annual rise of3.8 percent.

The local budget collection isexpected to reach 265 trillion VND (11.48 billion USD) in 2015 and 295trillion VND (12.78 billion USD) in 2016.

Director of the municipal Department of Planning and Investment Thai VanRe reported the city’s total export turnover from January-July wasestimated at 17.6 billion USD, down 4.6 percent against the previousyear, mainly due to a plunge in crude oil prices.

In contrast, the total import turnover rose 13.2 percent to 19.1 billion USD during the period, he cited.

Also at the meeting, Chairman Le Hoang Quan requested theimplementation of measures to protect urban landscapes and theenvironment.-VNA
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