Can Tho economy expands at fast pace in six months

15:11 | 08/07/2015 Economy- Society

The southern city of Can Tho posted a higher economic growth rate than the rates of the country and centrally-run cities in the first half of this year, said a local official.

Can Tho economy expands at fast pace in six months

Can Tho City posted a higher economic growth rate than the rates of the country and centrally-run cities in the first half of this year. (Photo: VNA)

Its growth was estimated at about 9.2 percent, up 8.26 percent annually, as compared to the national rate of 6.28 percent, Hanoi’s 7.8 percent, Hai Phong’s 9.12 percent, Da Nang’s 8.15 percent and Ho Chi Minh City’s 8.55 percent, said head of the municipal Statistics Department Le Ngoc Bay.

The high economic performance is credited to less bureaucratic procedures and stabilised market prices.

During the period, Can Tho reeled in nine new projects worth 29 million USD in processing and industrial zones.

The total goods sales and service value topped 76.35 trillion VND (3.63 billion USD), marking a yearly rise of 14 percent, more than 42.2 trillion VND (2 billion USD) of which was from the retail and service sectors.

Export earnings from farm produce, garment and handicrafts were also growing, ranging from 11.5 – 25 percent.

On the tourism front, the city welcomed about 1 million visitors, including over 103,500 foreigners and raked in 970 billion VND (46.1 million USD), up 85 percent.

It contributed over 8.8 trillion VND (419 million USD) to the State budget, up 50 percent from last year’s same period./.

Source: VNA

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