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| Workers load rice for export to the Philippines at Nha Be Port in HCM City. — VNA/VNS Photo Dinh Hue |
HCM CITY (Biz Hub)— HCM City's major economic indicators were positive in the first two months of the year, with high growth in industry and trade, the municipal People's Committee has said.
During the period, retail and service revenue reached VND107.6 trillion (US$5.09 billion), an increase of 11.7 per cent year-on-year.
Speaking at a meeting on Thursday, Thai Van Re, director of the Department of Planning and Investment, said the city had supplied a sufficient amount of goods at reasonable prices for Tet (Lunar New Year).
Retail distribution systems were diverse and customers did not have to worry about price hikes, he said.
The industrial sector's growth rate increased by 4.8 per cent against the same period last year, with a higher processing and production rate and lower growth in industrial mining.
Le Van Khoa, director of the city's Department of Industry and Trade, said the support given workers to return to their hometowns had been successful in reducing the labour shortage customarily seen after the Tet holiday. Many more workers returned to work in HCM City after celebrating the holiday in their hometowns this year.
About 85 companies in industrial parks and export processing zones have resumed operation and 93 per cent of employees have returned to work after Tet, the HCM City Export Processing and Industrial Zones Authority reported at the meeting.
As of February 15, the city had granted investment licences for 41 new foreign direct investment (FDI) projects worth $421.7 million, up 5.1 per cent in the number of projects and 180 per cent in investment capital against the same period last year.
In addition, 20 existing FDI projects in the city also increased investment capital by $84.6 million.
Le Hoang Quan, chairman of the municipal People's Committee, said departments, agencies and districts must create best conditions for attracting investment, focusing on solving procedures for FDI.
If departments, agencies and districts solved FDI procedures quickly, the city's FDI this year could exceed the target of $3.2 billion, he said.
Quan also instructed departments, agencies and districts to continue resolving difficulties, especially difficulties about capital, land and technology reform, to help companies' production.
Departments, agencies and districts were told to help companies by providing information and access to city policies that can help businesses, such as the one that links banks and companies.
The city targets increasing GDP by more than 8 per cent in the first quarter of the year. — VNS