Can Tho enjoys three-year record GDP growth

The Mekong Delta city of Can Tho reported a 12.5 percent increase in GDP this year, generating VND 69.5 trillion (US$ 3.26 billion), the highest level in three years.

A conference on November 24 to review the locality’s socio-economic development in 2014 stated that the local industrial sector continued to undergo positive developments, with the industrial production index predicted to grow by 8.4 percent compared to 2013.

Local industrial parks attracted five new projects with a total registered capital of US$ 48 million, up US$ 23 million compared to last year.

The locality’s combined retail and service sectors generated revenue of more than VND 71.7 trillion (US$ 3.36 billion) this year, up 16.4 percent year-on-year. The city welcomed over 1.3 million holiday-makers, raking in around VND 1.1 trillion (US$ 51.7 million), which accounts for 9 percent more tourists and 20 percent more revenue than in the same period last year.

Throughout the year, local farmers produced 1.4 million tonnes of rice, a 3.9 percent increase compared to 2013. The large-scale paddy field model was expanded to a total area of 39,000 ha, a 51 percent year-on-year increase.

At the conference, the municipal Party Committee approved a resolution, setting a target of 12-12.5 percent GDP growth in 2015 and GDP per capita of VND 79.3 million.

The locality’s revenue from exports and services, and the total budget collection are expected to reach US$ 1.6 billion and US$ 460 million, respectively.

In order to achieve these objectives, the local authorities will focus on developing industrial sectors that serve agricultural production, while promoting services with potential for added value, such as finance, banking, insurance and logistics, according to Tran Quoc Trung, the Deputy Secretary of the Committee.

In addition, the city will also pay heed to boosting trade and tourism with a view to becoming a centre for services, trade and entertainment in the Mekong Delta in the future, Trung said.

Source: VNA

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