HCM City urged to achieve higher growth by year-end

Speaking at a conference of the HCM City Party Committee on October 3, its secretary Nguyen Thien Nhan said that HCM City continued playing a leading role as the country’s socio-economic, cultural, education, and science and technology hub. 

He urged the city to closely follow the Party’s resolutions and State strategies in implementing its action plans and to take serious measures to achieve its targets.

The meeting discussed a range of socio-economic issues in the first nine months as well as the public investment plan for 2017-2020.

It also focused on assessment of major infrastructure projects that are expected to reduce congestion as well as administrative reform and Party resolutions regarding Party building work, among others.

Tran Vinh Tuyen, vice chairman of the city People’s Committee, reported on socio-economic development in the first nine months, as well as tasks and solutions needed to be carried out for the rest of the year.

According to Tuyen, the city’s Gross Regional Domestic Product (GRDP) reached 775.874 trillion VND (34.14 billion USD) or 7.97 percent in the first nine months, compared to 7.76 percent in the same period last year.

Total export turnover of the city reached more than 26.3 billion USD, a rise of 15.7 percent over the same period last year, while import turnover reached 31.58 billion USD, up 16.9 percent over the same period last year, Tuyen said.

The number of international visitors to the city reached 4.2 million, a rise of 16 percent compared to the same period last year or 70 percent of the year’s target of 6 million, he added.

Speaking at the closing session, Nhan, who is also a Politburo member, spoke highly of the city’s efforts in socio-economic development in the first nine months, which delivered outstanding results, including economic growth of 7.97 percent.

However, the city’s economy also had to deal with long-term constraints, as the business environment and competitiveness had not seen much improvement, Nhan said.

In addition, the city should continue implementing innovative programmes set by city authorities.

Nhan also urged the city to continue its emphasis on a one-stop shop for issuance of certificates for investment registration and business registration, and study one-stop mechanisms for construction permits.

Regarding the mid-term investment plan, the city has achieved certain results, especially for various forms of capital mobilisation, according to Nhan.  

However, for the 2016-2020 period, the city needs to generate investment and mobilise resources for public investment and create a favourable, effective investment environment.

In addition, secretary Nhan emphasised the need to improve infrastructure planning for the city, as most of the plans no longer meet the current situation. The plans must ensure efficiency, with a particular focus on transportation, water supply and drainage, waste treatment, and river bank erosion, he said.

VNA