City Sees US$5 Billion Invested In Business in First Four Months

More than VND90, 000 billion (US$5 billion) was invested in business affairs by private companies in the first four months of 2008. With 6,400 newly established enterprises and 10,200 entrepreneurs increasing their investment capital for production expansion. It is projected that the development of Viet Nam’s socio-economy is not in bad situation, said the Chairman of the People’s Committee of HCMC, Le Hoang Quan.

The goverment implemented many measures to control the speed of the increase in prices in this month.  (Photo:KK)

The speed of the increase of the price in April (accounting for 1.82 percent) is lower than March (1.92 percent). The highlights are increases of FDI and foodstuff, said Director of the Statistical Office of HCMC, Du Quang Nam.

”The city can not keep the price of construction materials including cement, steel and iron, but foodstuff, particularly rice is expected to slightly rise. The main reason is the increase in the price of petrol that has brought with it an increase in freight charge” said the Deputy Director of the Department of Trade in HCMC, Truong Trung Viet.

The Government implemented many measures to control the speed of the increase in prices in April. The loser is the education industry and the gainers are the industries of transport, post, communication, and foodstuff.

The city should apply the best preferential policies to all forms of investment and create the best conditions for investors and enterprises, and keep the speed of the GDP this year equal to last years (accounting for 12.6 percent), stressed the Chairman of the People’s Committee of HCMC, Le Hoang Quan.

By Tran Toan – Translated by Kim Khanh

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