HCMC sees positive growth in next year

As Ho Chi Minh City achieved high growth in 2014, the city authority hoped to attain more in next year. Accordingly the city sets 9.5 percent up GDP growth target for 2015.

Last year, the city authority expected to gain gross domestic product (GDP) growth of 9.5 percent; happily, the city’s efforts have been rewarded when it achieved GDP growth of 9.6 percent.

Moreover, the municipal People’s Committee chairman Le Hoang Quan said that the city economic growth speed has remained mostly stable with gradual increase in quarters. For instance, the first quarter of the year saw GDP growth rate at 7.7 percent; the second was 8.7 percent ; the third quarter of 10.2 percent and 11.2 percent in the last quarter.

In addition, spending and collecting of state budget increased gradually. In 2013, collection for state budget was VND239,000 billion (US$ 11.1 million) and then it reached VND252,186 billion (US$ 11.7 million), an increase of 11.39 percent thanks to surge in oil export.

Accordingly, the city targets 9.5 percent up GDP growth rate; in which export turnover increases of 8 percent-10 percent and collecting state budget of VND265,776 billion (US$ 12.4 million) for 2015.

HCMC's per capita income now reaches over US$5,131 a year though the city authority targets to remain US$4,800 a year, said Thai Van Re, head of the municipal Department of Planning and Investment.

By Van Anh - Translated by Anh Quan

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