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HCM City economy sees positives in April
HCM City has seen retail sales, industrial output, and service revenues grow in April, but exports and FDI slow down, city authorities reported at a meeting on April 23.
The meeting, chaired by People’s Committee chairman Le Hoang Quan, discussed the southern metro’s socioeconomic performance in April as well as in the year to date.
Retail sales and revenues from services in April were estimated at more than 20.5 trillion (US$1.2 billion), up 3.1 percent from March and 17.2 percent from a year earlier.
Their value in the first four months went up to VND82.6 trillion, an 18 percent year-on-year increase.
Industrial output in April is likely to reach VND34.3 trillion, up 4.3 percent from last month and 5 percent from a year earlier.
Over the first four months of the year, total industrial output may amount to VND128.6 trillion, a year-on-year increase of 2.9 percent.
Truong Van Lam, manager of the People’s Committee office, attributed the growth to the stimulus measures adopted by the city and central governments.
Thai Van Re, director of the city Planning and Investment Department, said though relative small, such growth is an encouraging sign since industrial production, trade, and services are major components in country’s economy.
The department would come up with a list of 23 projects requiring an investment of VND2.57 trillion before April 30, he said. They are part of the city’s stimulus program, he added.
But many other areas of the economy continue to slow down owing to the recession, he said.
Exports may decline to US$1.27 billion in April, 21.5 percent down from the previous month and 33.4 percent down from the previous year, he said.
By April 20 the city had licensed 93 FDI projects this year worth US$564.6 million, down 75.2 percent in value terms from the last year period.
Around 20,000 people have been laid off but the city has taken measures to support them and their families, Nguyen Thanh Tai, standing deputy chairman of the People’s Committee, said.
He urged official agencies to continue with administrative reforms and speed up construction works.
The Department of Industry and Trade should make a list of businesses in need of funds and submit it to the city authorities for consideration, said Nguyen Thi Hong, deputy chairwoman of the People’s Committee.
VietNamNet, SAI GON GIAI PHONG
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