HCM City heads to grow 8.5% GRDP next year

VGP – Ho Chi Minh City has set a target of achieving a growth rate of 8.5% in Gross Regional Domestic Product (GRDP) next year, with total private investment accounting for 35% of GRDP.

December 04, 2019 4:10 PM GMT+7

Nguyen Thien Nhan, Secretary of the municipal Party Committee, said the city next year would aim to create 44,000 new businesses, creating 135,000 new jobs for its people.

This year the city’s economic growth is expected to be 8.32%, slightly higher than last year’s 8.3%, according to Nhan.

The city’s economic scale accounts for nearly 24% of the national economic scale, the highest figure ever.

This year, the city’s budget revenue is expected to surpass the target, an increase of 9% over last year. Total retail sales of goods and services rose by 12.1% over the same period.

The total number of international visitors to the city reached 8.5 million, a year-on-year increase of 14% with sales up by 14.5% over last year.

In addition, the city attracted US$6.17 billion worth of foreign direct investment (FDI) in the first 10 months of the year, up 3.4% year-on-year, according to the municipal Department of Planning and Investment./.

By Hoang Ha