HCMC determines to keep growth rate

VGP – The Hồ Chí Minh City People’s Council has just wrapped up its 13th meeting after three working days. A score of hot issues such as curbing inflation, promoting socio-economic development, overcoming obstacles and difficulties, keeping growth rate were discussed thoroughly.

July 05, 2008 7:23 AM GMT+7

Members of the HCMC People’s Council vote to ratify the meeting’s resolution

Vice Chairman of the HCMC People’s Committee Nguyễn Thành Tài stated that the City has no plan to readjust socio-economic development norms until September 2008.

The City’s GDP grew 10.5% in the first six months, lower than that in the same period last year (11.2%).

The report on socio-economic situations presented at the meeting acknowledged that: “Fairly high growth rate and social security and order are the City’s achievements”. However, to reach the whole-year growth rate of 12.7-13% in 2008, the City is required to grow 14% in the remaining six months.

Some delegates claimed that the City took timely actions by cutting down capital for 390 prolonged and behind-schedule projects. And this must be further carried out.

According to the General Statistics Office’s report, HCMC is one of the biggest receivers of State budget capital (VND 3.1 trillion). It is also one of 38 provinces attracting FDI projects (US $3.4 billion).

By Thùy Dung