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HCM City foresees 12% annual growth
The city would record an impressive GDP growth of 12 per cent this year thanks to the pace set during the first eight months of this year, officials said at a meeting on Thursday.
The meeting was held to review the socio-economic performance so far this year.
During this period, industrial production value, which makes an important contribution to GDP growth, posted a year-on-year increase of 13.8 per cent.
As many as 233 FDI projects, 35 per cent of the national figure, with a registered capital of over US$1.3 billion were licensed by the city.
"The investment environment in HCM City is still attractive for foreign investors," Thai Van Re, Head of the municipal Investment and Planning Department, said at the meeting.
Local investment also increased significantly over last year. Particularly high investments were recorded in infrastructure and trade with year-on-year increases of 17.5 per cent and 27.8 per cent, respectively.
"The high growth rate is a result of well implemented social welfare policies, especially the programme to stabilise prices of goods," said Nguyen Thanh Tai, Vice Chairman of the city People's Committee.
Committee Chairman Le Hoang Quan noted that the economy had recovered quickly after two years of decline due to several factors including the global financial crisis, but he wanted concerned agencies to sharpen their focus on retaining the pace of growth in the last four months.
The meeting discussed ways to sustain the growth of the last eight months.
Officials stressed the need to keep prices stable, promote trade, expand exports, develop the local market and further simplify administrative procedures.
Referring to the completion of major infrastructure projects, Quan said, "Road projects and relocation of residents living along canals in districts 4,6, 11 and Binh Thanh will get priority".
vietnamnews
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