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Hà Nội eyes double digit GPD growth

VGP - The Hà Nội People’s Council convened its 17th session on December 8, targeting a gross domestic product (GDP) growth rate of between 9.5-10% for 2009.

12/08/2008 10:10

Photo: VGP

The council also set the goals of a 20% increase in export revenue, an 18-20% growth in social investment, and a 5% rise in budget collection, alongside with creating 126,000 new jobs and reducing the poverty rate among the city’s households to 14%.
In particular, the council deputies also vowed to lower the birthrate by 0.2% from 2008 with a 1% reduction in the number of third birth cases.
Hà Nội People’s Committee Vice Chairman Phí Thái Bình reported that the city has failed to achieve the GDP target of 11.5-12% set for 2008 due to various difficulties resulting from high inflation, financial turmoil, epidemics, unusual cold spells and particularly large scale floods in early November.
2008 also marks the first year that Hà Nội’s administrative boundary has been expanded to include the neighboring Hà Tây Province and parts of Vĩnh Phúc and Hòa Bình Provinces. This has posed both advantages and disadvantages to the management and development of the city.
However, Mr. Bình noted, with its concerted efforts, the capital posted a GDP growth rate of 10.58%, an export turnover of more than US $6.9 billion and a total social investment capital of VND 97.7 trillion (roughly US $5.9 billion), respective year-on-year rises of 35.5% and 19.3%.
Hà Nội recorded impressive results in attracting foreign direct investment with US $5 billion poured into 300 projects, doubling the 2007 figure. Its budget revenues hit VND 68.6 trillion (about US $4.1 billion), surpassing the yearly plan by 13.9%.
Addressing the event, NA Vice Chairman Uông Chu Lưu stressed that Hà Nội plays an important role in implementing the country’s overall tasks aimed at curbing inflation, stabilizing the macro economy, ensuring social security and maintaining sustainable growth.
The legislator urged the municipal authorities to work out mechanisms to lure more talents and investment sources to serve the development of the city.
Secretary of the Hà Nội Party Committee Phạm Quang Nghị said the city would focus on overcoming the aftermath of the recent historic floods, accelerating administrative reform and speeding up the tempo of major projects for on-schedule completion to mark the capital’s 1000th founding anniversary.
Mr. Nghị also affirmed the city’s resolve to join hands with the Government to rein in inflation, prevent economic slowdown, and especially to maintain stable and sustainable economic growth and ensure social security, food hygiene and effective protection of the environment.