A corner of Ho Chi Minh City (Photo: VNA) HCM City (VNA) - HCM City has set a target of achieving a growthrate of 8.5 percent in Gross Regional Domestic Product (GRDP) next year, withtotal private investment accounting for 35 percent of GRDP.
Nguyen Thien Nhan, Secretaryof the municipal Party Committee, said the city next year would aim to create44,000 new businesses, creating 135,000 new jobs for its people.
Speaking at the end of a two-day meeting last week in the city, Nhan said thecity’s labour productivity was nearly three times that of the whole country,and that its State budget revenue exceeded 3.3 percent of the target for theyear.
Progress was also being made in a creative urban area in the city’s Easternpart (District 2 and 9) and a project to build a smart city.
The implementation of National Assembly Resolution 54, which gives moreautonomy to the city to speed up development, had seen positive results aswell.
The city also targeted becoming the largest start-up centre in the country, Nhansaid.
“In an aim to attract more investment for much-needed infrastructure, HCM Cityis trying to become a digital- and knowledge-based economy with a highlyskilled workforce,” he added.
The city will also continue to support enterprises with high competitiveness,focusing on green growth and the well-being of its people, according to Nhan.
Despite achievements, he said the city was facing unsustainable development,decreasing competitiveness in some sectors, and slow administrative reforms.
To achieve the targets, the municipal government would improve competitivenessto ensure growth, and work to create a transparent business environment to drawmore investment.
State-owned enterprises would be restructured to enhance their efficiency,while export markets would be diversified to avoid dependence on a singlemarket.
The city would also continue investing in urban infrastructure andclimate-change adaptation, as well as flood-prevention and traffic congestionprogramme.
Key industrial sectors that use advanced technology and have high added value,with an ability to join global value chains, would be the focus of development.
In addition, domestic supporting industries would be given assistance in an aimto reduce imports of spare parts and manufacturing equipment.
This year the city’s economic growth is expected to be 8.32 percent, slightlyhigher than last year’s 8.3 percent, according to Nhan.
The city’s economic scale accounts for nearly 24 percent of the national economicscale, the highest figure ever.
This year, the city’s budget revenue is expected to surpass the target, anincrease of 9 percent over last year. Total retail sales of goods and servicesrose by 12.1 percent over the same period.
The total number of international visitors to the city reached 8.5 million, ayear-on-year increase of 14 percent with sales up by 14.5 percent over lastyear.
In addition, the city attracted 6.17 billion USD worth of foreign directinvestment (FDI) in the first 10 months of the year, up 3.4 percentyear-on-year, according to the municipal Department of Planning and Investment./.
Nguyen Thien Nhan, Secretaryof the municipal Party Committee, said the city next year would aim to create44,000 new businesses, creating 135,000 new jobs for its people.
Speaking at the end of a two-day meeting last week in the city, Nhan said thecity’s labour productivity was nearly three times that of the whole country,and that its State budget revenue exceeded 3.3 percent of the target for theyear.
Progress was also being made in a creative urban area in the city’s Easternpart (District 2 and 9) and a project to build a smart city.
The implementation of National Assembly Resolution 54, which gives moreautonomy to the city to speed up development, had seen positive results aswell.
The city also targeted becoming the largest start-up centre in the country, Nhansaid.
“In an aim to attract more investment for much-needed infrastructure, HCM Cityis trying to become a digital- and knowledge-based economy with a highlyskilled workforce,” he added.
The city will also continue to support enterprises with high competitiveness,focusing on green growth and the well-being of its people, according to Nhan.
Despite achievements, he said the city was facing unsustainable development,decreasing competitiveness in some sectors, and slow administrative reforms.
To achieve the targets, the municipal government would improve competitivenessto ensure growth, and work to create a transparent business environment to drawmore investment.
State-owned enterprises would be restructured to enhance their efficiency,while export markets would be diversified to avoid dependence on a singlemarket.
The city would also continue investing in urban infrastructure andclimate-change adaptation, as well as flood-prevention and traffic congestionprogramme.
Key industrial sectors that use advanced technology and have high added value,with an ability to join global value chains, would be the focus of development.
In addition, domestic supporting industries would be given assistance in an aimto reduce imports of spare parts and manufacturing equipment.
This year the city’s economic growth is expected to be 8.32 percent, slightlyhigher than last year’s 8.3 percent, according to Nhan.
The city’s economic scale accounts for nearly 24 percent of the national economicscale, the highest figure ever.
This year, the city’s budget revenue is expected to surpass the target, anincrease of 9 percent over last year. Total retail sales of goods and servicesrose by 12.1 percent over the same period.
The total number of international visitors to the city reached 8.5 million, ayear-on-year increase of 14 percent with sales up by 14.5 percent over lastyear.
In addition, the city attracted 6.17 billion USD worth of foreign directinvestment (FDI) in the first 10 months of the year, up 3.4 percentyear-on-year, according to the municipal Department of Planning and Investment./.
VNA
