An overview of Ho Chi Minh City (Photo: VNA) Speaking at a meeting on February 1, he said the global economicslowdown and inflation would impact the city’s socio-economic development,slowing its recovery.
Global growth is expected to decrease from 3.2% last year to 2.7%this year, he said.
The real estate, stock and bond markets are all expected to facehuge challenges this year amid tightening monetary policy, according to Duc.
Many local businesses lack orders because of the weak globaldemand, and the situation would not improve until the middle of the year, hesaid.
The city would organise meetings to discuss measures to supportbusinesses and workers, and seek ways to supply the economy with capital amidthe tight monetary policy, Duc said.
For instance, it would implement a programme to link up banks andenterprises to provide the latter with loans.
It would also speed up public spending, which has been tardy, tospeed up work on major projects this year, he said.
It would also organise activities to match labour supply anddemand, he added.
The city’s exports were worth 3.6 billion USD in January, down 13%year-on-year.
In January, its Index of Industrial Production decreased by 15% year-on-yearand 21% from the previous month.
Retail sales of goods and services grew by 5.7% year-on-year.
Tourism revenues increased by 16.8% year-on-year.
The city received 350,000 visitors, up 100% year-on-year, butmostly domestic travellers, in January, and has a target for this year of attracting4.5-5 million foreign tourists and revenues of 120 trillion VND (5.03 billionUSD).
The city attracted 50 FDI projects worth a total of 86.86 millionUSD, up 127.8%.
Its revenue collection were down 13%./.
VNA
