HCM City continues strong development streak


A container ship sails past a luxury apartment complex in Ho Chi Minh City. — AFP

HO CHI MINH city: Prime Minister Pham Minh Chinh has chaired a meeting on Ho Chi Minh City’s socioeconomic development and implementation of the National Assembly’s resolution on piloting specific mechanisms and policies for the city’s development in the southern metropolis.

According to a report from the meeting last Saturday, the city’s gross regional domestic product (GRDP) in the first half of the year soared by an estimated 6.46% over the same period last year, the highest since 2020, contributing 19.65% to the nation’s growth rate.

Other indicators recorded strong growth, such as total retail sales of goods and consumer service increasing by 10.3%, export turnover by 10%, import turnover by 5.9%, and the industrial production index (IPI) by 6.2% over the same period last year. The number of foreign tourists rose 30.3%.

The city also introduced solutions specifically aimed at speeding up the progress of key projects, with a particular focus on finding ways to remove legal obstacles to bring initial results.

The city submitted its planning for 2021-2030, and set six breakthrough solutions to achieve a growth rate of 7% in 2024 and 8% to 8.5% in 2025.

Regarding the results of the one-year implementation of previous initiatives, the implemented work has brought positive effects, with many mechanisms having come to life, while several mechanisms are in the process of implementation.

Speaking at the meeting, PM Chinh highlighted the city’s position, role, potential, advantages and development opportunities, saying that the implementation of previous initiatives had brought positive results, creating conditions for the rapid and sustainable development of the city.

He praised the efforts of the city’s party, authority, army and people which resulted in many important results.

He stressed that the city should also promote the reform of administrative procedures, strengthen decentralisation in handling work, improve provincial governance and public administration performance index, and promote national digital transformation.

He added focus should be placed on building smart cities, developing housing funds for workers, ensuring provincial defence and social order, creating favourable conditions and environment for socio-economic development and strengthening the party and political system.

The prime minister asked the city to strive to thoroughly grasp and implement the resolutions of the Party Central Committee and the National Assembly, thereby successfully fulfilling this year’s goals and tasks to reach economic growth of 7.5%t to 8%.

He expressed his hope and belief that with solidarity, unity, determination and effort, the city would bring into play the its potential, and make greater breakthroughs in development. — Viet Nam News/ANN

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Ho Chi Minh , Vietnam

   

Next In Business News

Opec again lowers 2024, 2025 global oil demand growth view
UK pay growth cools, keeping BoE on track for another rate cut
He Group bags RM30.60mil contract
Auditor resignations to have no impact on Globetronics ops
Ringgit ends higher against greenback ahead of US inflation report
Bursa Malaysia ends 6-day slide, CI up 8.86pts
Duty Free Intl' unit to jointly develop JB land
Solar District Cooling IPO oversubscribed 144.08 times
Shareholders give nod to Magma's RM100mil RCN issuance
China hobbles Asia shares; US data, Fed meet in view

Others Also Read