HCM City’s economy still on track to achieve targets

Created 30 May 2017
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HCM City (VNA) - HCM City’s economic performance in the first five months of the year has been rock steady.

Cat Lai Port in HCM City. Exports in the city have gone up in the first five months of the year in comparison with the same period last year (Photo: VNA)

 

Exports have gone up in comparison with the same period last year.

International and domestic investment in the city continues to grow, with the latter surging by 2.4 times. FDI was worth nearly 1.37 billion USD, an increase of 45.8 percent.

Job creation, vocational training and support for poor people have been efficient to ensure social welfare.

The city’s revenues were 147.5 trillion VND (6.6 billion USD), an increase of 18.4 percent.

Total exports turnover of enterprises in the city was around 14 billion USD, an increase of 17.1 percent compared with the same period in 2016.

The star performers were rubber whose export value rose by 39.8 percent, computers and electronic equipment (67.3 percent), and transport vehicles and accessories (95.1 percent).

Imports cost 16.6 billion USD, an increase of 18 percent.

Services and retail sales grew by 10.6 percent and industrial output increased by 7.1 percent.

Some 15,492 new companies with a combined registered capital of 453.6 trillion VND (20 billion USD) were licensed in the first five months, 2.4 times the number incorporated in the same period last year.

“The rainy season is approaching and the flooding situation is still bad,” Vo Van Hoan, head of the Office of the People’s Committee, said.

“Encroachment of the drainage system should be dealt with.”

After a meeting held on May 29 to review the socio-economic performance, a reporter asked why the city’s campaign to clear pavements of encroachers and hawkers seems to have gone quiet.

He replied that the next measures have been thoroughly considered for implementation to ensure poor people are not affected while also maintaining urban order.

“The city will soon announce parking regulations with fixed fees. The management will be improved through technology and cameras.”

When another reporter asked about the quality of the nearly 250km of Chinese pipes used in the city’s water supply system -- or 53 percent – a Department of Transport official assured that all pipes meet safety criteria and the water quality is often checked.
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He revealed that the department plans to recommend a temporary halt to licensing of ride hailing companies to reduce the number of cars on the streets.

An official from the city Anti-Flooding Centre reported that the centre maintains 80 percent of the drainage system, 10.3km of canals and all water pumping stations.

“We have arranged for workers to clean the drainage system during heavy rains but encroachment of the drainage network is severe,” he said.

 

 

Source: VNA

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