The southern metropolis Ho Chi Minh City has maintained its growth momentum for four consecutive years, the municipal People’s Committee told a meeting on June 24.
The city’s gross domestic product (GDP) value reached 417 trillion VND in the first half of this year, up 8.55 percent annually – the highest rise in the past three years, buoyed by services, industry and construction, and agriculture with increases ranging from 6-9.8 percent, said Director of the 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 1.38 thousand trillion VND (63.48 billion USD), soaring 14.82 percent from last year’s corresponding period, while outstanding loans totalled 1.125 thousand trillion VND (51.75 billion USD), reflecting a good flow of capital.
Under a business-bank connectivity scheme, about 1,500 individual business clients have accessed over 65.7 trillion VND (3 billion USD) in loans.
In the industry area, the industrial production index expanded by 6.5 percent, with a gradual shift towards processing and manufacturing industries and less reliance on mining.
In industrial, processing and hi-tech zones, the new and additional investments surged 87 percent yearly to over 623 million USD, equivalent to 89 percent of the target.
On revenues to the State budget, the city contributed over 134.7 trillion VND (6.1 billion USD), 47 trillion VND (2.1 billion USD) of which was from exports.
For the rest of this year, the municipal authorities will continue assisting businesses in improving competitiveness by technology adoption and marketing.
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, informed that the city is also reshuffling the Steering Board for International Economic Integration.
Trade and investment promotion activities will keep going on with the support of credit institutions, towards achieving goals mentioned in the Government’s banking restructuring scheme.-VNA
The city’s gross domestic product (GDP) value reached 417 trillion VND in the first half of this year, up 8.55 percent annually – the highest rise in the past three years, buoyed by services, industry and construction, and agriculture with increases ranging from 6-9.8 percent, said Director of the 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 1.38 thousand trillion VND (63.48 billion USD), soaring 14.82 percent from last year’s corresponding period, while outstanding loans totalled 1.125 thousand trillion VND (51.75 billion USD), reflecting a good flow of capital.
Under a business-bank connectivity scheme, about 1,500 individual business clients have accessed over 65.7 trillion VND (3 billion USD) in loans.
In the industry area, the industrial production index expanded by 6.5 percent, with a gradual shift towards processing and manufacturing industries and less reliance on mining.
In industrial, processing and hi-tech zones, the new and additional investments surged 87 percent yearly to over 623 million USD, equivalent to 89 percent of the target.
On revenues to the State budget, the city contributed over 134.7 trillion VND (6.1 billion USD), 47 trillion VND (2.1 billion USD) of which was from exports.
For the rest of this year, the municipal authorities will continue assisting businesses in improving competitiveness by technology adoption and marketing.
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, informed that the city is also reshuffling the Steering Board for International Economic Integration.
Trade and investment promotion activities will keep going on with the support of credit institutions, towards achieving goals mentioned in the Government’s banking restructuring scheme.-VNA
