HCM City anticipates 9.8 percent GDP growth in 2015

15:08 | 02/12/2015 Local Economy

Ho Chi Minh City expects its gross domestic product (GDP) growth rate at 9.8 percent in 2015, according to the municipal Department of Planning and Investment.

HCM City anticipates 9.8 percent GDP growth in 2015

Ho Chi Minh City (Source:VNA)

Reports at a meeting discussing the metropolis’s socio-economic performance on November 26 revealed that the southern economic hub’s index of industrial production (IIP) is estimated to grow by 7.7 percent year on year during the 11 months ending in November, compared to 6.8 percent of the same period last year.

Particularly, the IIP of the four key industries (engineering mechanics, electronics, chemistry – rubber – plastics, and food processing) is estimated to increase by some 8.1 percent from a year before.

The upward trend in foreign investment attraction is also spotlighted. By November 20, 517 foreign invested projects were licensed while 141 others raised their capital. Up to 3.2 billion USD was poured into the new and existing projects, up 1.7 percent annually.

Meanwhile, nearly 28,700 new domestic businesses were set up.

The municipal statistical office said sound market supervision and price stablisation programmes have helped curb HCM City’s consumer price index, leading to a monthly 0.1 percent hike in the November figure. Total retail sales of goods and services this month is roughly 60.4 trillion VND (2.66 billion USD), climbing 8.9 percent year on year.

At the meeting, Deputy Director of the Department of Planning and Investment Su Ngoc Anh reported more than 247 trillion VND (10.87 billion USD) was collected for the State coffer in the past 11 months, rising by 5.63 percent from a year before.

Chairman of the municipal People’s Committee Le Hoang Quan said the city has fulfilled 18 of the 19 set targets and achieved a stable economic growth so far.

He attributed the attainments to the implementation of economic restructuring, property selling, administrative reforms and investment climate improvement, thus building up enterprises and investors’ trust in local economic development potential.

He asked for more actions to be taken by relevant agencies, localities and businesses to realise the 9.8 percent GDP growth rate and gear up for the ASEAN Economic Community which will be formed at the year’s end./.

 

Source: VNA

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