HCM City's economy grows between 9.5% to 10%

14:15 | 04/11/2015 Society

HCM City's GDP growth rate for the first 10 months of the year was between 9.5 and 10 per cent, according to a report released at a meeting of the People's Committee held last week.

HCM City's economy grows between 9.5% to 10%

A view of HCM City — Photo ndh

According to the report, tax payments in the first 10 months amounted to nearly VND226 trillion (US$10 billion), a year-on-year increase of 4.28 percent, accounting for 84.96 percent of its target.

During the period, the city attained total retail sales of over VND505 trillion ($22.4 billion), up by 10.6 percent compared with 2014, import/export turnover of $25.46 billion, and industrial development index of 7.4 percent.

The city also received 3.6 million foreign visitors, up by 4.6 percent over last year.

Registrations for establishing new businesses increased by over 30 percent in terms of number of new firms, and over 40 per cent in registered capital. Many of these were new businesses in the service, industrial and construction sectors.

The city authority also granted licences to 464 new foreign-direct invested projects, up by 39.8 percent over 2014, with total registered capital of $2.43 billion.

Addressing the meeting, the chairman of HCM City People's Committee, Le Hoang Quan, asked city agencies and departments to help resolve any problems affecting businesses.

The city plans to tighten spending on public investments next year, he said./.

Source: VNS


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