The southern metropolis Ho Chi Minh City has maintained its growthmomentum for four consecutive years, the municipal People’s Committeetold a meeting on June 24.
The city’s grossdomestic product (GDP) value reached 417 trillion VND in the first halfof this year, up 8.55 percent annually – the highest rise in the pastthree years, buoyed by services, industry and construction, andagriculture with increases ranging from 6-9.8 percent, said Director ofthe municipal Department of Planning and Investment Thai Van Re.
Trade, export-import and banking credit also recorded impressive growth.
The total goods retail and service value was estimated at 323.2 trillion VND, up 10.9 percent year-on-year.
As of late June, local credit organisations raised more than 1.38thousand trillion VND (63.48 billion USD), soaring 14.82 percent fromlast year’s corresponding period, while outstanding loans totalled 1.125thousand trillion VND (51.75 billion USD), reflecting a good flow ofcapital.
Under a business-bank connectivity scheme,about 1,500 individual business clients have accessed over 65.7trillion VND (3 billion USD) in loans.
In theindustry area, the industrial production index expanded by 6.5 percent,with a gradual shift towards processing and manufacturing industries andless reliance on mining.
In industrial, processingand hi-tech zones, the new and additional investments surged 87 percentyearly to over 623 million USD, equivalent to 89 percent of the target.
On revenues to the State budget, the citycontributed over 134.7 trillion VND (6.1 billion USD), 47 trillion VND(2.1 billion USD) of which was from exports.
For therest of this year, the municipal authorities will continue assistingbusinesses in improving competitiveness by technology adoption andmarketing.
The manufacturing sector will benefit from a support industry development strategy which is in the pipeline.
Le Hoang Quan, Chairman of the municipal People’s Committee, informedthat the city is also reshuffling the Steering Board for InternationalEconomic Integration.
Trade and investmentpromotion activities will keep going on with the support of creditinstitutions, towards achieving goals mentioned in the Government’sbanking restructuring scheme.-VNA
The city’s grossdomestic product (GDP) value reached 417 trillion VND in the first halfof this year, up 8.55 percent annually – the highest rise in the pastthree years, buoyed by services, industry and construction, andagriculture with increases ranging from 6-9.8 percent, said Director ofthe municipal Department of Planning and Investment Thai Van Re.
Trade, export-import and banking credit also recorded impressive growth.
The total goods retail and service value was estimated at 323.2 trillion VND, up 10.9 percent year-on-year.
As of late June, local credit organisations raised more than 1.38thousand trillion VND (63.48 billion USD), soaring 14.82 percent fromlast year’s corresponding period, while outstanding loans totalled 1.125thousand trillion VND (51.75 billion USD), reflecting a good flow ofcapital.
Under a business-bank connectivity scheme,about 1,500 individual business clients have accessed over 65.7trillion VND (3 billion USD) in loans.
In theindustry area, the industrial production index expanded by 6.5 percent,with a gradual shift towards processing and manufacturing industries andless reliance on mining.
In industrial, processingand hi-tech zones, the new and additional investments surged 87 percentyearly to over 623 million USD, equivalent to 89 percent of the target.
On revenues to the State budget, the citycontributed over 134.7 trillion VND (6.1 billion USD), 47 trillion VND(2.1 billion USD) of which was from exports.
For therest of this year, the municipal authorities will continue assistingbusinesses in improving competitiveness by technology adoption andmarketing.
The manufacturing sector will benefit from a support industry development strategy which is in the pipeline.
Le Hoang Quan, Chairman of the municipal People’s Committee, informedthat the city is also reshuffling the Steering Board for InternationalEconomic Integration.
Trade and investmentpromotion activities will keep going on with the support of creditinstitutions, towards achieving goals mentioned in the Government’sbanking restructuring scheme.-VNA
