Friday, November 22, 2024 7:46:26 PM - Markets open
VN-INDEX 1,228.10 -0.23/-0.02%
HNX-INDEX 221.29 -0.47/-0.21%
UPCOM-INDEX 91.70 +0.20/+0.21%
HCM City’s GRDP grows 6.46 per cent in H1, showing signs of recovery
vietnamnews - 7/3/2024 9:38:06 AM
 (0 ratings. You must sign in to rate.)
 
A consumer shops at a butcher in Tân Định Market, HCM City. The city saw a 10 per cent year-on-year increase in total retail sales of goods and services in the first half of the year. — VNA/VNS Photo Văn Phúc
 
Despite facing various challenges, HCM City’s Gross Regional Domestic Product (GRDP) grew 6.46 per cent in the first half of the year, showing signs of recovery.
 
According to a report by the HCM City Statistics Office, the city’s index of industrial production (IIP) grew 5.6 per cent during the period, the highest increase in the past three years.
 
The city saw a 10 per cent year-on-year increase in total retail sales of goods and services.
 
As of June 20, 25,248 enterprises entered the market this year, registering VNĐ215 trillion in capital, up 9.6 per cent in enterprise number and 1 per cent in capital from the same time last year.
 
Its state budget collection was also a bright spot at more than VNĐ265 trillion, rising 16 per cent against the same time last year.
 
However, the city fell short of its public investment disbursement target, with only VNĐ15 trillion disbursed by the end of June, or 19 per cent of the set target instead of the expected 30 per cent.
 
It aims to disburse VNĐ73 trillion, equivalent to 95 per cent of public investment by year-end.
 
The city saw a surge in foreign tourist arrivals, with nearly 2.7 million visitors in the first half of the year, up 38 per cent year-on-year and representing 44.6 per cent of the annual target, driven by a series of festivals and tourism promotion events.
 
It also welcomed over 17 million domestic tourists, up 4.4 per cent year-on-year and making up 45 per cent of the yearly target.
 
Its tourism revenue saw a notable surge of 14.6 per cent during the period, reaching US$92.6 trillion.
 
In addition, progress of the first metro line (Bến Thành – Suối Tiên) has been 98 per cent completed, with the city aiming to start operations by November.
 
Phan Văn Mãi, chairman of the People’s Committee, acknowledged the challenges faced by the city, such as low credit growth and a slow recovery in the real estate market.
 
To achieve its growth target of 7.5-8 per cent for the year, experts recommend focusing on high-tech industries, financial services, and stabilising the real estate market.
 
Diversifying export markets and expanding to potential markets such as Japan, the Republic of Korea, and India are also essential strategies to support production and business activities.
 
Việt Nam reported a 6.42 per cent year-on-year GDP growth in the first half, with the Asian Development Bank forecasting a growth rate of 4.6 per cent for Southeast Asia this year.
 
Việt Nam and the Philippines are expected to have the highest growth rates in the region in 2024, reaching 6 per cent. — VNS
 
Read original article here
Newer News
10:25 Vietnam resolved to boost digital economy with national action plan
10:14 General Department of Customs warns of tax evasion schemes in steel imports
21/11 VN must diversify its textile export markets
21/11 Shrimp exports surge in 10 months, generating US$3.2 billion
21/11 Vietnam aims to increase rice market share in Africa
20/11 Trade growth between Vietnam and Americas promoted by FTAs
20/11 Enterprises urged to tap potential to expand official exports to EU
19/11 Solutions discussed to ensure coal supply for electricity generation in 2025
19/11 Workshop seeks ways to attract Japan’s green investment to Vietnam
19/11 VN-UK trade continues to grow
Older News
03/07 Hà Nội hosts its first Aerospace and Defence Manufacturing Innovation Day
03/07 HCM City hosts international precision engineering, manufacturing expo
03/07 Trade promotion activities prioritise key products and markets
02/07 Hà Nội’s GRDP estimated to grow 6 per cent in H1
02/07 Việt Nam has a unique opportunity to enhance its position in global supply chains
02/07 VN-China trade hits nearly $100 billion
02/07 Việt Nam’s trade surplus hits $11.63 billion in the first six months of 2024
02/07 Regional connectivity levers economic growth
02/07 Agro-forestry-fishery runs a trade surplus of $8.28 billion, up 62.4 per cent
02/07 Foreign investment disbursement hits new peak in H1
 
Newsletter Signup
Top Stories
VCCI recommends mineral mining rights be granted through auction and bidding
Central bank works to raise interbank rates and ease forex market
Inflation a concern following salary increases
National Council for Sustainable Development established
Việt Nam, Cambodia look forward to $20 billion trade
Market Update
Last updated at 3:05:02 PM
VN-INDEX 1,228.10 -0.23/-0.02%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.