Ho Chi Minh City 's economic output is expected to rise by 9.2 percent this year to 595.37 trillion VND (28.3 billion USD), according to the municipal People's Committee.
In a report tabled at the opening session of the city Party Committee on November 26, Chairman Le Hoang Quan said the services sector will expand by 10.2 percent; industrial and construction sector by 8 percent; and agriculture, forestry and fisheries by 5.1 percent.
Retail growth will be 17.3 percent, and exports, 30.2 billion USD, a year-on-year increase of 7.4 percent.
After the city authorities improved the market and price management, prices rose by less than 5.5 percent this year, well below the targeted 7 percent.
The city's tourism sector saw solid growth, contributing significantly to the restructuring of the economy and maintaining its top position in the country.
The city welcomed some 3.8 million foreign visitors, a year-on-year increase of 8 percent, and reported total revenues of 74.8 trillion VND for the city's tourism sector, a 21 percent increase.
The city took measures to combat difficulties and attain stable growth, thus abetting the nation's efforts to bring inflation under control, Quan said.
Though this year’s GDP has fallen from last year's 10.3 percent, the 9.2 percent growth rate reflects the great efforts by the city.
The rate is 1.77 times that of the nation's, and has come at a time of global turmoil, the report said.
In 2013, the country’s largest economic hub aims to improve the quality of growth, restructure and stabilise the economy, reduce inflation further, and boost GDP growth, Quan said.
The city will focus on six breakthrough programmes to ensure sustainable development of its economy and create the impetus for successful implementation of its 2011 – 15 socio-economic plans.
It targets GDP growth of 9.5-10 percent, thus achieving per capita income of 4,000 USD.-VNA
In a report tabled at the opening session of the city Party Committee on November 26, Chairman Le Hoang Quan said the services sector will expand by 10.2 percent; industrial and construction sector by 8 percent; and agriculture, forestry and fisheries by 5.1 percent.
Retail growth will be 17.3 percent, and exports, 30.2 billion USD, a year-on-year increase of 7.4 percent.
After the city authorities improved the market and price management, prices rose by less than 5.5 percent this year, well below the targeted 7 percent.
The city's tourism sector saw solid growth, contributing significantly to the restructuring of the economy and maintaining its top position in the country.
The city welcomed some 3.8 million foreign visitors, a year-on-year increase of 8 percent, and reported total revenues of 74.8 trillion VND for the city's tourism sector, a 21 percent increase.
The city took measures to combat difficulties and attain stable growth, thus abetting the nation's efforts to bring inflation under control, Quan said.
Though this year’s GDP has fallen from last year's 10.3 percent, the 9.2 percent growth rate reflects the great efforts by the city.
The rate is 1.77 times that of the nation's, and has come at a time of global turmoil, the report said.
In 2013, the country’s largest economic hub aims to improve the quality of growth, restructure and stabilise the economy, reduce inflation further, and boost GDP growth, Quan said.
The city will focus on six breakthrough programmes to ensure sustainable development of its economy and create the impetus for successful implementation of its 2011 – 15 socio-economic plans.
It targets GDP growth of 9.5-10 percent, thus achieving per capita income of 4,000 USD.-VNA
