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HCM City achieves 4-year record GDP
HCM City’s GDP growth has reached 11 percent in the first half of the year, more than double last year’s figure and the highest rate since 2006.
At a conference in the city on June 24, Chairman of the Municipal People’s Committee Le Hoang Quan asked relevant agencies to take steps to stabilize macro-economy, strive for a growth rate of 11 percent in 2010, and give fresh impetus to development in the next few months.
In the second half of the year, the city aims to implement measures to promote production and business, boost exports, speed up economic structuring, improve the business environment, and control financial and monetary policies to curb inflation. The city will also focus on improving the efficiency of state management, boosting administrative reforms, and strengthening anti-corruption efforts, thrift and waste prevention.
According to the city’s Department of Planning and Investment, in the past six months, its service sector contributed 52.4 percent of GDP, up 10.8 percent. Total revenues from sales and services were up 33.1 percent compared to the same period last year.
The industrial and construction sectors accounted for 46.6 percent of GDP. Industrial production value increased 13.7 percent from a year ago.
Total budget collections were estimated at VND76,965 billion including VND42,495 billion from the domestic sector (50 percent of the annual target), and VND25,200 billion from export activities ( 53.5 percent of the forecast).
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