A corner of HCM City (Photo: VNA) Over the past 42 years, HCM City has maderemarkable contributions to national building, defence, industrialisation,modernisation, and international integration.
The city was one of few localities in Vietnam torecord double-digit growth for many consecutive years from 1991-2010 thanks tothe creative implementation of the Party’s guidelines on developing thesocialist-oriented market economy.
It recorded annual average growth of 9.6 percentbetween 2011 and 2015, 1.66 times higher than the national average.
In 2016, the city achieved economic growth of8.05 percent. The economic structure was shifted to services andindustry-construction, which made up 54.8 percent and 28.76 percent of themunicipal gross domestic product (GDP) respectively. The agricultural sector onlycomprised 0.8 percent of GDP.
HCM City has long been one of the mostattractive foreign direct investment (FDI) destinations.
In 2016, the city lured 3.7 billion USD, raisingtotal FDI to approximately 41 billion USD, with 6,485 foreign investmentprojects.
The FDI sector contributed 23.8 percent to thecity’s GDP.
Per capita GDP increased to 5,428 USD in 2016from 712 USD in 1995-1996.
HCM City is considered a bridge connecting thesouthern region with the south central and Central Highland regions and plays acrucial role for the development of the southern key economic region.
These achievements were attributed to the city’sfocus on planning urban areas, industrial and processing parks, and developingtransport infrastructure.
The southern economic hub has also made stridesin culture, society, education-training, and human resources.
It is one of the leading localities in nationaluniversal secondary education.
The healthcare system has been developed with the increasing useof modern technologies in medical examination and treatment.
So far, 54 out of the 56 communes in the city have beenrecognised as new-style rural areas.-VNA
VNA
