Ho Chi Minh City saw positive signs of economic recovery with main indicators in the first quarter of this year higher than those in the same period last year.

At a working session with the National Financial Supervision Committee on April 14, Vice Chairman of the municipal People’s Committee Hua Ngoc Thuan reported that the city’s GDP growth in the first three months of the year was estimated to expand by 7.7 percent on a year-on-year basis.

He added that the city’s consumer price index (CPI) in the reviewed period rose slightly by 0.18 percent from last December and 1.15 percent on year thanks to the effectiveness of the price stabilisation programme.

The city’s budget collection reached nearly 60 trillion VND (2.82 billion USD), up 17 percent on year. Worthy of note is a surge of 9.05 percent in the economic sector’s contribution to the local budget, indicating business rebound in the city.

To maintain its economic growth in the coming time, HCM City continues to tackle difficulties for local enterprises and help them expand business and production, striving to reach the target of budget collection and raise the effectiveness of public investment.

On the day, the city has announced its master plan for socio-economic development through 2020, with a vision towards 2025.

It targets a GDP growth ranging from 10-10.5 percent between 2011 and 2015, 9.5-10 percent in the 2016-2020 period and 8.5-9 percent in the five subsequent years. The GDP per capita will reach 8,430-8,822 USD by 2020.-VNA