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HCM City’s macro-economic report published

A report on the macro-economic situation of Ho Chi Minh City in 2023, which also gives forecasts related to the southern hub’s economic growth in 2024, was launched at a seminar held by the University of Economics Ho Chi Minh City (UEH) and the municipal Statistics Office on January 4.
HCM City’s macro-economic report published ảnh 1Director of the municipal Statistics Office Nguyen Khac Hoang speaks at the event (Photo: VNA)
HCM City (VNA) - A report on the macro-economic situation of Ho Chi Minh City in 2023, which also gives forecasts related to the southern hub’seconomic growth in 2024, was launched at a seminar held by the University of Economics Ho Chi Minh City (UEH) and the municipal Statistics Office on January4.

The report aims to provide an overviewof the city’s economy in 2023, forecast its economic growth prospects in 2024, and suggest policyrecommendations for the municipal authorities.

Prof. Dr. Nguyen Dong Phong, Chairman of the UEH University Council, said that the report will be a useful tool serving policy-makingrelated to socio-economic development in the southern largest economic hub.

It will also serve as a crucial reference for domesticand foreign investors and enterprises, helping them to build investment orientationsand business development strategies in HCM City, he added.

Director of the municipal Statistics Office Nguyen Khac Hoang saidthat the report was expected to meet the requirements of supporting statemanagement and statistics, and propose policy mechanisms for socio-economicdevelopment in the city.

According to the report, HCM City and thecountry in general faced difficulties and challenges in exports in 2023 as the exportgrowth remained quite modest in large export markets such as the US, Europe andChina.

However, the government is making efforts toaddress bad debts and increase the liquidity of the banking system to stimulatecredit flows into key sectors, thus promoting the recovery ofaggregate demand in HCM City and Vietnam.

In addition, with the determination to speed up public investment disbursement in HCM City and Vietnam in general, the city's economy is expected to rise steadily in 2024, especially in the secondhalf, the report said.

It suggests promoting consumer spending, asset accumulation in households and businesses, and expanding exports to potentialmarkets such as Japan, the Republic of Korea and India.

HCM City should focus on developing hi-tech industries and banking andfinancial services, and managing and stably developing its real estate market,the report noted./.
VNA
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