City sees enormous growth in key sectors

The Ho Chi Minh City economy thrived in the first four months of this year, with many key sectors posting impressive growth. 

Cargo is loaded onto trucks by the Saigon New Port Corporation in Ho Chi Minh City for transport to a port for export (Photo: SGGP)

The city’s total retail sales and services revenue reached VND116.3 trillion (US$6.1 billion) in the first four months, a year-on-year increase of 34.2 percent, with the State economic sector and non-State economic sector increasing 97.7 percent and 23.1 percent respectively.
In April alone, retail sales and services revenue amounted to around VND28.8 trillion (US$1.5 billion), a rise of 3.1 percent over the last month, and 34.5 percent over the same period of last year.
The opening of new modern seaports, like SPPSA and Cai Mep-Thi Vai in Ba Ria-Vung Tau Province, kept the city’s seaport system in its leading position.
Tan Cang-Cat Lai Port in HCMC receives 6,000-7,000 Teus of cargoes a day on average. About 792,000 Teus of cargoes arrived in the port in the first four months, a year-on-year rise of 17.3 percent.
Pham Thi Thuy Van from Saigon New Port Corporation said the Tan Cang-Cat Lai Port was open around the clock to serve imports and exports.
Not only enterprises in HCMC, but those in the neighboring provinces of Dong Nai and Binh Duong, and even those in the Central Highlands province of Dak Lak and the south-central province of Khanh Hoa, use the Tan Cang-Cat Lai Port to export coffee and seafood, she added.
Enterprises in the Mekong Delta provinces are conducting imports and exports at Saigon Port, located inside downtown Ho Chi Minh City.
Saigon Port deputy director Nguyen Thanh Hung said the volume of rice exported via the port in March increased by 62 percent compared to the same period last year.
SPCT Port in Hiep Phuoc Commune, Nha Be District, received an average of 7-8 ships per day since it was put into operation in January.
The mechanical industry also saw enormous achievements, with the first four months’ manufacturing value increasing by 31.1 percent over the same period of last year.
As many as 7,371 enterprises were operating in the city by April 20, with a total registered capital of over VND50.6 trillion (US$2.7 billion), year-on-year increases of 8 percent and 90 percent in terms of the number of enterprises and capital respectively.

By Hoang Liem, Nguyen Khoa – Translated by Hoang Yen

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