At the conference, the Director of the HCMC Department of Planning and Investment Le Thi Huynh Mai reported that in the first seven months of 2024, the economic sectors of services and industry saw significant growth. The total revenue from retail sales of consumer goods and services was estimated at VND661,521 billion (US$24.8 billion), up 10.3 percent over the same period last year. Export turnover was estimated to reach US$26.07 billion, up 10 percent while revenue from travel services was estimated at VND108,004 billion (US$4.3 billion), an increase of 15.4 percent compared to the same period last year. Passenger volume reached 279.4 million, presenting a year-on-year increase of 20.8 percent. The city’s index of industrial production (IIP) increased 6.2 percent. The number of newly established businesses was 29,991, representing an increase of 8.4 percent.
According to the report from the municipal Branch of the State Treasury, as of July 26, the city disbursed more than VND11,804 billion, accounting for 14.9 percent of the allocated funds.
In addition, the city also focused on implementing healthcare and medical tasks, organizing cultural and arts activities, and ensuring social safety and order.
The HCMC People's Committee has identified several key tasks and solutions in the coming time, including speeding up the disbursement of public investment and key projects; and accelerating the progress of infrastructure planning and construction investment tasks, the General Planning for HCMC until 2040, with a Vision to 2060, the general planning for Thu Duc City until 2040.
At the meeting, the People's Committee of HCMC discussed the draft directive on the tasks and solutions to boost the city's economic growth by 2025.
The draft focuses on achieving a Gross Regional Domestic Product (GRDP) growth rate of at least 7.5 percent in 2024 and 8-8.5 percent in 2025; improving the PAR Index (Public Administration Reform Index) to enter the list of top 5 localities nationwide; having at least 80 percent of urban household wastes to be safely processed; and achieving a total housing area of 40 million square meters and building at least 26,200 social housing units.
It also strives to achieve goals of increasing the proportion of the digital economy by 22 percent in 2024 and 25 percent in 2025, and the index of industrial production (IIP) by 6.5 percent in 2024; continuously identifying four key industrial sectors as driving forces of growth; increasing the export turnover of HCMC’s businesses via border gates by 10 percent compared to 2023.
At the conference, the HCMC People’s Committee announced the city’s seven key solutions from now until 2025 including accelerating public investment disbursement and enhancing capital absorption; administrative reform; implementing the city government’s authority that has been granted to carry out Resolution 98; promoting effective public spending, boosting consumption demand and stabilizing the market; strengthening export and import activities; protecting the environment, accelerating implementation of social welfare programs, and expanding land fund for development; stimulating new driving forces; promoting economic diplomacy and strengthening international cooperation.
