Ho Chi Minh City’s economy grows 7.76 percent in six months
Ho Chi Minh City’s gross regional domestic product grew by 7.76 percent in the first half of this year, higher than the same period in the past two years.
HCMCity (VNA) – Ho Chi Minh City’s gross regional domestic product grewby 7.76 percent in the first half of this year, higher than the same period inthe past two years.
Itwas unveiled during a meeting of the municipal People’s Committee on June 15 todiscuss the city’s socio-economic-cultural performance and the budgetexpenditure and spending in the first half of the year, and major tasks for theremaining months.
Withthis growth, the city is likely to fulfill the set growth of 8.4 – 8.7 percentthis year, said Chairman of the municipal People’s Committee Nguyen Thanh Phong,adding that the total State collection hit 173 trillion VND (7.52 billion USD),or 49.5 percent of the yearly target.
Theservices sector grew 7.38 percent while industry and construction expanded by7.17 percent and agriculture up 5.93 percent.
PhamThanh Kien, Director of the municipal Department of Industry and Trade, saidthe six-month industrial development index rose 7.5 percent year-on-year, thehighest in the past five years.
Duringthe period, there were more than 18,000 new businesses with a total registeredcapital of upwards 227 trillion VND. The total registered and additional capitaltopped 492 trillion VND, marking a 2.2-fold increase annually.
Thecity also licensed 340 foreign-invested projects, mostly in the processing and manufacturingindustries, which doubled the city’s capital attraction of the previous periodin 2016 to 2.15 billion USD.
Inorder to achieve set targets this year, the municipal authorities askeddepartments and localities to clear obstacles to businesses by improvingbusiness climate, reforming administrative procedures regarding taxation andcustoms while perfecting start-up ecosystem and promoting start-up innovation.
Thecity will also promote programmes on supply-demand, business-bank connectivity,demand stimulation, and market stabilisation.-VNA
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A corner of Ho Chi Minh City (Source: VNA) 
