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HCM City’s economy on road to recovery

Ho Chi Minh City’s economy has shown signs of recovery, seeing an increase in GDP from 7.5 to 8 percent this year.
Ho Chi Minh City’s economy has shown signs of recovery, seeing an increase in GDP from 7.5 to 8 percent this year.

The city’s social development investment capital reached 143 trillionVND, up 18.3 percent, and an industrial production value hit 442trillion VND, up 7.5 percent.

The city also generated new jobs for 120,000 people, and reduced the rate of households living in poverty to 8 percent.

These positive signs were announced at the 17th session of the HCM CityPeople’s Council which opened on Dec. 8 to discuss socio-economicdevelopment in 2009 and the plan for 2010.

However, in this year, the city faced many problems that hinderedeconomic growth, such as congested traffic, floods and environmentalpollution, as well as issues relating to food safety and hygiene, saidthe meeting.

The meeting also reported that the Municipal People’s Committee has set22 targets for next year, including a GDP increase of 10 percent.Export turnover is set to increase 12.7 percent over last year, andsocial investment capital is estimated to reach 172 trillion VND or41.8 percent of the city’s GDP.

Delegates at the meeting asked the city to consider climate change as amajor and urgent issue which needs to be put on its agenda.

The meeting, which will last till Dec. 11, will hold inquiry sessions on issues of concern to the participants./.

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Illustrative image (Photo: VNA)

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