Ho Chi Minh City’s economic recovery has accelerated in April, proving the effectiveness of its socio-economic development measures, Chairman of the municipal People’s Committee Le Hoang Quan said on April 24.

Reports at a meeting on the southern hub’s socio-economic situation show that the revenue of retail sales and services in April was 51.8 trillion VND (2.5 billion USD), up 11.7 percent year on year.

It brought the total figure in the first four months to 204.5 trillion VND (9.7 billion USD), up 12.1 percent from the same period in 2013.

Export has seen an upward trend, with the city shipping 2.42 billion USD worth of commodities in April, rising by 22.1 percent from a year earlier. As a result, the total export revenue in the four months increased by 0.6 percent year-on-year to 8.85 billion USD.

So far this year, the city’s index of industrial production saw a year-on-year rise of 5.2 percent, reports say.

According to Director of the municipal Department of Planning and Investment Thai Van Re, the city granted establishment licences to 7,622 businesses in April with a total registered capital of over 42.5 trillion VND (over 2 billion USD).

Meanwhile, investment certificates were given to 98 foreign invested projects worth 701.4 million USD, down 6.7 percent in the project number but up nearly four times in value.

The total new and additional investment stood at 765.4 million USD, shooting up 120 percent against last year’s corresponding period.

Director of the Department of Finance Dao Thi Huong Lan said in April HCM City collected 86.6 trillion VND (4.1 billion USD) for the State budget, representing a yearly growth of 18.1 percent.-VNA