HCMC needs specific solutions for achieving growth target of 7.5-8 percent

The HCMC People’s Committee held a conference to review the implementation of socio-economic development tasks in 2023 and put forward tasks for 2024 on January 6.

Attending the event were Secretary of the HCMC Party Committee Nguyen Van Nen, Chairman of the municipal People’s Committee Phan Van Mai, Vice Secretary of the Party Committee of the city Nguyen Ho Hai, Chairwoman of the HCMC People’s Council Nguyen Thi Le and deputies of the Executive Committee of the HCMC Party Committee and the Standing Board of the People’s Committee of the city.

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Secretary of the HCMC Party Committee Nguyen Van Nen (C) talks with Chairwoman of the HCMC People’s Council Nguyen Thi Le (R) and Dr. Tran Du Lich

Speaking at the event, Chairman of the People's Committee of the city Phan Van Mai said that the conference will focus on evaluating the outstanding results in 2023, the management of the HCMC People's Committee, the coordination between departments and local authorities, missions and solutions for 2024, the existing problems in 2023.

In addition, the city will also pay attention to analyzing the market’s low capital absorption capacity, the increase in bad debt, the slow progress in resolving tasks, the unsynchronized coordination between the People’s Committee and departments, inactivity in researching and proposing advice and solutions, the slow progress in the disbursement of public investment capital, limits of administrative reforms.

Regarding the targets and tasks for 2024, Chairman of the People's Committee of the city Phan Van Mai emphasized that HCMC faces challenges in achieving a growth target of 7.5-8 percent.

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Chairman of the municipal People’s Committee Phan Van Mai emphasizes that HCMC faces challenges in achieving a growth target of 7.5-8 percent. (Photo: SGGP)

According to Vice Chairman of the HCMC People’s Committee Vo Van Hoan, in 2023, HCMC achieved the goal of preventing decline and significant growth in economic sectors. The city’s socio-economic recovery and development program continues to be effective while the timely implementation of tasks and solutions to carry out the theme of 2023 was completed as planned.

Long-standing bottlenecks were solved, especially businesses’ problems and difficulties in investment projects, real estate markets, and corporate bonds. Many national key projects in the city were put into operation. The implementation of several projects of the medium-term public investment plan for the period of 2021 – 2025 has been accelerated.

Resolution 98/2023/QH15 on special mechanisms and policies for the development of HCMC has been implemented synchronizedly and effectively. Digital transformation activities gained positive results. HCMC ranked second out of 63 provinces and cities in the country in terms of the 2022 Digital Transformation Index (DTI). Foreign affairs have been continuously enhanced to deepen multifaceted cooperative relations. National defense, security, and social order have been maintained.

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Vice Chairman of the HCMC People’s Committee Vo Van Hoan speaks at the conference. (Photo: SGGP)

The city has identified the working theme for 2024, “Determination to effectively implement Digital Transformation and Resolution No. 98/2023/QH15 of the National Assembly.”, and built 18 key targets divided into five groups, including economy, society, urbanity, administrative reform, national defense, and security.

The southern metropolis will focus on developing a synchronous and modern urban infrastructure system; managing and using land and resources effectively, strengthening environmental protection, proactively preventing and fighting natural disasters, adapting to climate change, enhancing research and application of science and technology, and promoting innovation and creativity.

Additionally, the city will also pay attention to comprehensive and synchronous development of the cultural field, environment, and life, the harmonious development between economy and culture-society, comprehensive innovation of education and training, building and improving the quality of the people’s life, developing modern and sustainable urban agriculture associated with agricultural restructuring and building new rural areas, strengthening foreign affairs, and ensuring national defense and security.

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The Standing Board of the People’s Committee of the city chairs the conference. (Photo: SGGP)

In 2023, the city’s Gross Regional Domestic Product (GRDP) reached VND1,621,191 billion (US$66.5 billion), equivalent to VND1,099,072 billion (US$45 billion) in 2019, up 5.81 percent compared to 2022. The total state budget revenue was VND446,545 billion (US$18.32 billion), achieving 95.07 percent of the target.

Regarding the implementation of public investment capital in 2023, the city has assigned and allocated a detailed public investment capital plan of more than VND68,634 billion (US$2.8 billion).

According to report data of the HCMC State Treasury, as of December 31, 2023, the total disbursed capital for the public investment plan was over VND42,931 billion (US$1.76 billion), achieving 63 percent of the total allocated capital. It is estimated that the disbursement rate will reach 71 percent of the total allocated capital by January 31, 2024.

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At the meeting (Photo: SGGP)
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Delegates attend the conference. (Photo: SGGP)

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