HCMC shows impressive economic growth

Despite the ongoing global and domestic economic downturn, Ho Chi Minh City has shown an impressive economic performance with Gross Domestic Product growth in 2013 at an estimated VND764 billion (US$36 million) and per capita income at US$4,513.

The Opera House in Ho Chi Minh City's District 1. The city shows impressive economic growth (Photo: Cat Tuong)

This was announced on December 4 at a meeting of the City Party Committee presided over by Le Thanh Hai, Party Committee Secretary.

Le Hoang Quan, Chairman of the People's Committee, said that even though recovery signs are visible, the City has not fulfilled its master plan on economic restructuring and dark clouds of inflation still loom large over the horizon.

As per the target for 2014, the City will strive for increase in GDP by 10 percent.

To attain the socio-economic targets, the City should focus on eight major tasks including economic restructuring, hi-tech sectors and improvement in business environment.

The City should pay heed to increase business competitiveness and service sector growth, which will make a marked contribution to the City's economy.

By Hong Hiep - Translated by Uyen Phuong

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