Ho Chi Minh City’s economy has seen a steady revival and is on course to return to pre-COVID levels, Chairman of the municipal People’s Committee Phan Van Mai said on June 29.
A shopper buys goods at a supermarket in HCM City. (Photo: VNA)
HCM City (VNA) – Ho Chi Minh City’s economy has seen a steady revival and is oncourse to return to pre-COVID levels, Chairman of the municipal People’sCommittee Phan Van Mai said on June 29.
Speakingat a meeting on the city’s socio-economic situation in the first half of theyear, he said the administration had made great efforts to help businessesaccess funds for their recovery and provided significant policy support toensure socio-economic activities proceeded smoothly.
Administrativeprocedures remain the biggest obstacle to capital disbursement, hinderingcapital flows into production and trade activities and the creation of newjobs, he said.
Maicalled on authorities in Thu Duc city and the city’s districts and governmentagencies to focus on smoothing administrative procedures to speed up economicrecovery and growth.
Directorof the Department of Planning and Investment Le Thi Huynh Mai said theGovernment’s policies to support businesses impacted by the pandemic hadbrought positive results, prompting economic recovery in the city and fullresumption of socio-economic activities.
Butthe disbursement of public investment capital was well below targets and thecity’s ranking in the Public Administration Reform Index dropped to 43 from 23in 2020.
Inthe first six months of the year, the city’s gross regional domestic product(GRDP) exceeded 728.7 trillion (31.32 billion USD), a year-on-yearincrease of 3.82% after precipitous drops of 24.97% and 11.64% in the third andfourth quarters of last year.
ItsIndex of Industrial Production rose by 3.1% year-on-year, with the four mainsectors, food processing, pharmaceuticals- chemicals-rubber-plastic, mechanicalengineering, and electronics expanding by 7.1%.
Retailsales of goods and services surpassed 556.4 trillion VND (23.91 billion USD),an increase of 6.2%. The city’s exports grew by 13.8% to 24.9 billion USD andimports rose by 13.7% to 34.2 billion USD.
Revenuesfrom tourism are estimated at 10.1 trillion VND (434.27 million USD), ayear-on-year increase of 233%.
Thenumber of domestic visitors to the city jumped by 43% to more than 11 millionwhile international tourism resumed and nearly 478,000 visitors came.
Thecity’s revenues are estimated at 238.6 trillion VND (10.25 billion USD), or61.74% of the full-year target and up 17.49% year-on-year./.
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Ho Chi Minh City recorded growth of 3.82 percent in gross regional domestic product (GRDP) in the first half of 2022, according to its Statistics Office.
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Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
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In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
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.
A shopper buys goods at a supermarket in HCM City. (Photo: VNA) 
