Workers produce garments at the Gia Dinh Co in HCM City. The city received 224 new foreign direct investment projects worth $259.1 million, while 68 others registered for capital expansion worth $346.6 million. — VNA/VNS Photo Thanh Vu

HCM CITY (Biz Hub) — More than 16,600 new businesses with a total registered capital of VND68.3 trillion (US$3.23 billion) were licensed in HCM City in the first seven months of 2013, a year-on-year rise of 5 per cent.

Over the same period, 20,860 existing businesses registered to increase their capital by VND64.7 trillion ($3.06 billion), bringing the total capital operational in HCM City to nearly VND133.1 trillion.

However, 10,113 other businesses suspended operations, including 1,346 that were dissolved.

The city received 224 new foreign direct investment (FDI) projects worth $259.1 million, while 68 other FDI projects registered for capital expansion worth $346.6 million in the first seven months of the year.

The city's total export turnover during this period reached $15.76 billion.

It's CPI (consumer price index) climbed by 0.96 per cent compared with December 2012 and by 1.47 per cent over the same period last year.

Le Hoang Quan, Chairman of the HCM City People's Committee, said that in the second half of the year, his administration has been focusing on implementing measures to boost business, including production.

Speaking at a meeting held last week to review the city's socio-economic development in the first seven months of 2013, he also said that they would continue promoting the price stabilisation programme in the remaining months of the year.

This would ensure that essential goods could be purchased by residents at reasonable prices, he said. — VNS