A factory in HCM City. The southern economic hub targets 6.5% growth in its index of industrial production (IIP) in 2024. (Photo: VNA) The department targets 6.5% growth of its index of industrialproduction (IIP), 11% growth in retail sales of goods and services, and exportturnover of businesses passing through the city's border gates to increase by10%.
According to a report at a meeting held late last week in HCM Cityto review industrial production and trade in 2023 and set tasks for this year,the sector recorded a strong recovery last year, with the index of industrialproduction up by 4.3%, higher than the national average. The city’s totalretail sales of goods and consumer services in 2023 increased by 10.8%, and totaltourism revenue rose by 22% over 2022.
International visitors to the city surged by 44.3% and the numberof newly established businesses increased by 10%.
Tourism revenue rose 25% from 2019 before the COVID-19 pandemic broke out to 160trillion VND (6.56 billion USD), the highest in five years.
Bui Ta Hoang Vu, the department’s director, said businesses wouldcontinue to face difficulties this year, such as lower demand in the country’skey export markets, stricter access to bank loans, raising input costs,unstable global supply chain, high logistics costs and others.
In order to realise the goals set out for 2024, the departmentwill focus on developing the high-tech industrial sector, supportingindustries, and the four key industrial sectors comprehensively, he said.
It would pay greater attention to promoting key industrialproducts and those with potential in 2021-2025 to foster development, andencourage and instruct enterprises to enhance digital transformation and greenproduction.
It will step up export promotion to help firms expand markets,especially to countries with which Vietnam has free trade agreements.
The department would also seek to boost the development ofe-commerce to meet consumption trends, and develop the logistics sector into akey service sector.
Other plans included strengthening links between producers,distributors and retailers, bolstering connections between businesses and banksto make it easy for enterprises to access bank loans, and setting up acommodity exchange and large-scale supply and distribution chains with theparticipation of leading retailers and logistics firms, farms and enterprises,he said.
Nguyen Van Dung, Vice Chairman of the municipal People'sCommittee, appreciated efforts made by the department and businesses last year.
Expecting businesses to continue to face difficulties this year,he asked the department to understand the operational situation of enterprisesso as to propose measures and to focus resources to help solve theirdifficulties (if any) in a timely manner.
He urged the department to implement efficiently the investmentstimulus policy for the industrial sector and supporting industries andcontinue to foster trade cooperation with other cities and provinces to helpfirms expand consumption markets, ensure balance between goods supply anddemand, and stable prices.
The city's industry and trade sector needs to improve its forecastingcapacity to raise its management efficiency and better support the businesscommunity, he said./.
VNA
