Illustrative image (Photo: VNA) HCM City (VNA) – Ho Chi Minh City'seconomy continues to maintain positive growth momentum, driven by industrialproduction, domestic consumption, and stable supply and demand, heard a meetingof the municipal People’s Committee on October 30.
Director of the municipal Department ofPlanning and Investment Le Thi Huynh Mai said the city's industrial productionindex for October rose by an estimated 2.4% month on month and 10.6% year onyear.
The mining industry grew by6.1% monthly and 8.9% annually. Meanwhile, the processing and manufacturingindustry expanded by 2.5% and 11.1%, respectively, electricity production anddistribution sector down 1.1% compared to the previous month but up 5%year on year.
In the first 10 months, the index rose by3.7% annually. Among the four key industries, the industrial production grew by6.3%. Specifically, the pharmaceutical industry saw a 19.2% increase, mechanicalindustry 7.4%, electronic 6.0%.
The total retail of goods and services duringthe period was estimated at over 978.6 trillion VND (40.77 billion USD),representing a 9.2% increase compared to the same period last year.
Foreign tourist arrivals in the city hit over4.12 million, up 55.3%. The total tourism revenue surpassed 140 trillion VND,showing a 32.6% growth year on year.
As of October 20, the city granted licenses to42,670 businesses, up 15.2% annually. Their registered capital reached over386.5 trillion VND.
In terms of public investment disbursement, thefigure stood at over 36 trillion VND, up 55.9% year on year.
However, Mai admitted that exports dropped by13.4% annually in the past 10 months. The number of newly-established firmsincreased in quantity but decreased in registered capital while the number ofbusinesses temporarily suspending their operations rose by 29.5%.
In addition, foreign direct investment attractionsaw a significant decrease of 32.3%, reaching only around 2.31 billion USD.
Chairman of the municipal People’s CommitteePhan Van Mai said in the final months of this year, the city will resolve difficultiesfaced by businesses and real estate market, step up infrastructure and urban development,stimulate consumer demand and develop tourism towards the end of this year.
The city remains committed to achieving apublic investment disbursement of 95% of the assigned target. For certainprojects facing particular challenges, the disbursement rate should reach above80%, he said./.
