A summary conference of the Ho Chi Minh City Department of Industry and Trade yesterday highlighted several positive economic developments.
As reported by the Ho Chi Minh City Department of Industry and Trade, key indicators such as industrial production, total retail sales of goods and import-export activities all saw significant growth, with increases of 7.3 percent and 10.6 percent, respectively.
Vice Chairman of the Ho Chi Minh City People's Committee Nguyen Van Dung highlighted the significance of industrial zones and wholesale and retail trade as key drivers of the city's economic development during his address at the conference. He noted that these sectors contribute 32.09 percent to the growth of the Gross Regional Domestic Product (GRDP).
The Vice Chairman required the Department of Industry and Trade to persist in assisting businesses in broadening their reach and optimizing their engagement in both domestic and international markets. Additionally, he emphasized the importance of developing a range of key industrial products that possess the potential to meet global standards and integrate effectively into the global supply chain.
Moreover, as per the Vice Chairman, the city will promote the early development of the project to turn the city into a large service center of the country and the region with high-class, modern, high-value-added service industries while taking heed of constructing an International Exhibition Center.
Furthermore, the southern metropolis will invest in installing rooftop solar power systems at administrative agencies, public non-business units, and facilities identified as public assets in the city and start construction of at least one logistics center.
Recent reports indicated that the Department of Industry and Trade has implemented various strategies to enhance production and business operations within the city. Notably, the Enterprise Bank Connection Program has allocated over VND666 trillion (US$26.26 billion) to nearly VND200,000 manufacturing companies.
