HCM City confident of fulfilling 2018 budget collection
Ho Chi Minh City is confident of fulfilling its 2018 budget collection goals, as its economy saw stable and positive development in the first three quarters of this year, according to Chairman of the municipal People’s Committee Nguyen Thanh Phong.
Chairman of the HCM City People’s Committee Nguyen Thanh Phong (centre) speaks at the meeting on the city’s socio-economic performance on October 1 (Photo: VNA)
HCM City (VNA) – Ho Chi Minh City is confident of fulfilling its2018 budget collection goals, as its economy saw stable and positivedevelopment in the first three quarters of this year, according to Chairman ofthe municipal People’s Committee Nguyen Thanh Phong.
At a meeting on the city’s socio-economic performance on October 1, Phong saidin the remaining three months of the year, the city must take drastic measuresto achieve its socio-economic targets, especially by implementing sevenbreakthrough programmes and building a smart city.
In addition, the city is reviewing a planning adjustment plan and preparing toask for the Prime Minister’s permission to complete a detailed planning scheme,he said.
Vice Chairman of the committee Tran Vinh Tuyen said departments and agenciesshould intensify digitalisation and information technology application, with atleast one technological solution registered in each field by November.
According to a committee report, in the first nine months of 2018, the city’sgross domestic product (GDP) reached 903.6 trillion VND (38.78 billion USD), up7.8 percent year-on-year while budget collection hit 269.1 trillion VND (11.5billion USD), fulfilling 71.4 percent of the yearly plan and an increase of 9.8percent compared to the same period last year.
Revenue from retail sales and services hit 769.3 trillion VND (33 billion USD),up 12.8 percent year-on-year, and export turnover reached 28.2 billion USD, up7.7 percent.
The city welcomed 5.45 million foreign tourists during January-September, asurge of 21.2 percent over last year’s corresponding period.
HCM City lured 5.47 billion USD in total foreign investment in the first ninemonths, soaring 50 percent year-on-year.-VNA
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The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Chairman of the HCM City People’s Committee Nguyen Thanh Phong (centre) speaks at the meeting on the city’s socio-economic performance on October 1 (Photo: VNA) 
