Containers are being unloaded at Cat Lai port in HCM City. (Source: VNA) HCM City (VNA) – Ho Chi Minh City’s economycontinued to expand in the period from January to November with services andtrade being major growth engines, according to the municipal People’sCommittee.
In the last 11 months, total retail sales and servicesrevenue approximated 639 trillion VND (28.1 billion USD), a year-on-year riseof over 9 percent, Director of the municipal Department of Planning andInvestment Su Ngoc Anh said at a regular meeting of the city administration onDecember 2.
He noted activities to promote investment promotion andimprove the local investment climate have proved effective when domestic andforeign capital kept pouring into the city.
While nearly 33,000 businesses were set up with totalcharter capital of more than 266 trillion VND (11.7 billion USD), 729 FDIprojects worth 831.8 million USD were provided with investment registrationcertificates during the period.
Enterprises based in HCM City exported some 28.8 billion USDworth of goods, up 5 percent from a year earlier. Excluding crude oil, total valueof overseas shipments is estimated at 26.5 billion USD, rising by 10.4 percent,the People’s Committee reported.
The industrial sector grew by some 7.23 percent in the 11months, compared to the same period of 2015. Particularly, the four keyindustrial sectors (mechanical manufacturing, electronics,chemical-rubber-plastics, food processing) increased by 7.36 percent.
The southern city posted tourism revenue of over 89.69trillion VND (3.9 billion USD) from January to November, up 7.23 percent fromthe previous year. It also recorded 4.58 million international arrivals,climbing 14 percent.
Chairman of the municipal People’s Committee Nguyen ThanhPhong said the administration will press on with measures to supportenterprises and better the business climate in the time ahead.
HCM City aims for 50,000 new businesses to be established in2017.-VNA
