HCM City economy grows 8 per cent

The HCM City People’s Council is reviewing the socio-economic situation and the city’s revenues and spending this year, drawing up plans for 2017 and reviewing all voters’ complaints at a four-day meeting which ends yesterday.

Citizens of HCM City always wear masks when participating in traffic to avoid enhaling dust. - VNA/VNS Photo Hoàng Hải

Its chairwoman, Nguyễn Thị Quyết Tâm, said, “2016 was a significant year … because it saw the resolutions of the 12th National Party Congress adopted for the first time.

“There are so many problems that affect the public like traffic congestion, flooding, food safety concerns, disease outbreaks, robberies.

“In 2017 there will be difficulties and challenges related to climate change, natural disasters, low efficiency and poor economic competitiveness.

“Our investment needs are huge but the resources are limited and expenditure is increasing sharply.

People’s Committee chairman Nguyễn Thành Phong tabled a report that said in 2016 the city has already achieved nine out of 12 targets for the year.

The city economy has grown at 8.05 per cent, 1.28 times than nation’s GDP growth rate.

Revenues are expected to finish at nearly VNĐ304 trillion (US$13.5 billion), an increase of 10.8 per cent over last year. Exports have been worth $30.6 billion for year-on-year growth of 6 per cent.

“In 2016, 36,000 new enterprises were incorporated with total registered capital of VNĐ292 trillion ($13 billion) including 713 foreign projects with a total investment of $1.3 billion,” Phong said.

But he admitted that the business environment and competitiveness have been below expectations, application of science and technology has not achieved the desired efficiency and administrative reforms have failed to meet requirements.

“Traffic congestion, flooding, pollution, disease outbreaks, robberies, corruption and official squander have worsened and impacted people’s lives.”

For 2017 the city has set the following targets: economic growth of 8.4-8.7 per cent, 50,000 new companies to be incorporated, the poverty rate to be cut to under 1.2 per cent, 125,000 new jobs to be created, build eight million square metres of public housing, number of people getting access to potable water to be increased and 100 per cent of solid and medical wastes to be treated.

To achieve these targets, the city hopes to fully exploit and develop maritime logistics and become a leading entrepôt for international and national trade.

“The city will suggest to neighbouring provinces the setting up of an inter-regional mechanism to closely work together for infrastructure development, human resource training, tourism investment and promotion of automation and engineering,” Phong said.

The council spent a day questioning related authorities about vital issues like renovation and demolition of old buildings, water drainage encroachment, disease threats, corruption and squander.

Members voted to make Nguyễn Hữu Việt, director of the Department of Culture and Sports, and Bùi Tá Hoàng Vũ, director of the Tourism Department, members of the People’s Committee.

Source VNS