HCM City targets 8 percent GRDP growth hinh anh 1Delegates at the 6th meeting of the municipal Party Committee (Source: VNA)
HCM City (VNA) Ho Chi Minh City is striving to record a gross regional domestic production (GRDP) growth of 8 percent in 2016.

The ambition was revealed at the sixth meeting of the municipal Party Committee, which is taking place on June 22-23.

To realise the target, the city has focused on implementing the Government’s Resolutions on improving the business environment, increasing national competitiveness in 2016-2017 with a vision towards 2020, and supporting businesses until 2020.

Authorities will also step up the equitisation of State-owned enterprises and enact measures to improve the Provincial Governance and Public Administration Index (PAPI) and the Provincial Competitiveness Index (PCI).

They also plan to take measures to remove difficulties for businesses and facilitate production, business and investment, especially bettering administrative procedures in taxation and customs; supporting enterprises with capital, business premises, and technological renovation; and encouraging startup spirit among youngsters.

Vice Chairman of the municipal People’s Committee Le Thanh Liem reported that the GRDP was estimated at over 476.9 trillion VND (21.4 billion USD) in January-June, a year-on-year increase of 7.47 percent.

The total retail sales and services revenue hit more than 347.5 trillion VND (15.6 billion USD), up 11.3 percent against the same period last year, he said.

He added that the city welcomed over 2.43 million international tourist arrivals in the first half of 2016, a rise of 12.2 percent.

The industrial production index rose by 6.9 percent, with the processing and manufacturing industry continuing its high growth, he noted.

The budget collection reached over 143.9 trillion VND (6.47 billion USD), representing an annual increase of 8.08 percent, he said, adding that the social investment capital topped 125.1 trillion VND (5.62 billion USD), up 9.1 percent.-VNA