Tuesday, November 5, 2024 5:22:59 PM - Markets closed
VN-INDEX 1,245.76 +1.05/+0.08%
HNX-INDEX 224.86 +0.41/+0.18%
UPCOM-INDEX 91.90 +0.29/+0.32%
HCM City authorities set ambitious growth targets for this year and next
vietnamnews - 8/16/2024 10:32:26 AM
 (0 ratings. You must sign in to rate.)
Despite multiple challenges facing it, HCM City has set ambitious growth targets of 7-7.5 per cent this year and 8-8.5 per cent next year.
 
 
Foreign tourists are photographed in front of the iconic Independence Palace in HCM City that aims for growth targets of 7-7.5 per cent for this year and 8-8.5 per cent next year. — VNS Photo Bồ Xuân Hiệp
 
Despite multiple challenges facing it, HCM City has set ambitious growth targets of 7-7.5 per cent this year and 8-8.5 per cent next year.
 
Phan Văn Mãi, chairman of the municipal People's Committee, has issued a directive outlining the tasks for the city to achieve growth targets through 2025.
 
The directive aims to place the city among Việt Nam’s top ten localities regarding the Provincial Competitiveness Index (PCI) and Public Administration Reform Index (PAR-Index) by 2025.
 
It also aims to achieve a total housing area of at least 40 million square metres and to build at least 26,200 social housing units by 2025 as requested by the government.
 
It aims to achieve an 80 per cent or higher rate of household waste treated using advanced technologies or recycled methods.
 
It plans to develop at least 150 hectares of green parkland by 2025.
 
The city has set a target of achieving its digital economy making up 25 per cent of its Gross Regional Domestic Product (GRDP) by 2025 and 40 per cent by 2030.
 
Key initiatives
 
The city has outlined essential tasks for relevant agencies, including the Department of Planning and Investment and the Department of Transport.
 
The tasks include stimulating public spending, encouraging consumer activity, stabilising market prices, enhancing the business climate, and promoting environmental protection and regional cooperation.
 
It wants to disburse VNĐ73 trillion, or 95 per cent of its public investment allocation by the end of 2024.
 
The Department of Planning and Investment is tasked with mobilising VNĐ422 trillion (US$16.73 billion) in investment by 2025, up 14 per cent year-on-year.
 
Total investment capital reached VNĐ148.3 trillion in the first half, up 2.6 per cent year-on-year.
 
The city seeks to transform into a smart city through a comprehensive digital transformation plan that includes a data governance strategy and the development of artificial intelligence by 2030.
 
According to the recently published “HCM City Macroeconomic Report: Recovery and Challenges,” the city’s economy is likely to achieve growth of 7-7.5 per cent in 2024.
 
Its economy is forecast to continue to grow throughout this year and next, according to the report.
 
Reaching a growth target of 7-7.5 per cent this year and 8-8.5 per cent next year is possible if the global economy continues to recover favourably, it said.
 
Based on data from the first half, the report indicated a stable economic recovery in the country’s largest city.
 
Demand recovery has been seen in various indicators related to consumption, investment, and exports.
 
Despite various challenges facing it, the city recorded a growth rate of 6.46 per cent in the period, according to the report.
 
The city received over 3 million foreign visitors and 20 million domestic tourists in the first seven months, up 30.3 per cent year-on-year and 7.6 per cent year-on-year.
 
Its tourism revenue reached over VNĐ108 trillion in the first seven months, up 15.4 per cent year-on-year.
 
Experts have urged the city to continue to address bureaucratic inefficiencies, land clearance issues, and project delays in order to meet growth targets. — VNS
 
 
Read original article here
 
Newer News
16:19 PM urges national brands to expand towards a green future
11:05 Foreign suppliers pay over VNĐ18 trillion in taxes via electronic portal
11:03 Hanoi takes drastic measures to disburse public investment
11:00 VN's key exports are on a path of recovery: industry experts
10:57 Brand management will help sustainable business development, experts say
10:50 Fresh coconuts quenching new overseas markets
10:47 New solutions needed for urgent power projects
10:44 Vietnam's seafood sector primed for growth with favourable exports
04/11 Numerous US businesses set to arrive in HCM City to implement signed agreements
04/11 Foxconn to invest US$80 million in Bắc Giang for chip manufacturing expansion
Older News
16/08 Taiwan initiates anti-dumping investigation into Vietnamese cement and clinker
16/08 VCCI says petrol should be excluded from special consumption tax
15/08 Pangasius exports take a beating as demand for other fishes soars
15/08 Vietnam turns into chip sector magnet with talent pool: Nikkei Asia
15/08 $200m foreign investment planned for Cần Thơ's largest industrial park
15/08 Hai Phong remains FDI magnet
15/08 Developing a 5,300 hectare specialised economic zone in Hai Duong
15/08 China is Vietnam's largest importer of animal feed and raw materials
15/08 Automobile sales in Vietnam up 9 per cent in July
14/08 Vietnam's finished steel production projected at 30 million tonnes
 
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 3:05:01 PM
VN-INDEX 1,245.76 +1.05/+0.08%
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.