Southern hub strives to boost economy

Ho Chi Minh City will continue to carry out financial, credit and monetary policies to boost production and consumption, with a focus on both temporary and long-term solutions for socio-economic development, said Le Thanh Hai, Secretary of the Municipal Party Committee at a regular meeting on April 21.

Participants discussed the city’s socio-economic situation in the first quarter and measures to strengthen the political system and the bloc of national unity.

They agreed to concentrate on the sectors with positive growth, especially trade and services, agriculture and rural areas, and infrastructure.

The city will encourage businesses to invest in potential markets and provide preferential credits for the purchase of machinery and equipment. It will also seek to expand export markets while reorganizing the domestic markets.

In addition, HCM City will try to improve the efficiency of the Credit Guarantee Fund for small- and medium-sized enterprises and introduce solution packages to attract and manage foreign direct investment (FDI). It will make a greater effort to stabilize prices and disburse a large amount of capital for projects.

The southern hub’s gross domestic product grew by four percent in the first quarter of this year despite the global economic decline.

VOV

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