HCMC sets economic growth target of 6 percent for 2021

Ho Chi Minh City is targeting a gross regional domestic product (GRDP) growth rate of around 6 percent in 2021.
HCMC sets economic growth target of 6 percent for 2021

This is among the targets the 9th-tenure municipal People’s Council set for next year on December 7 as part of its 23rd session.

Accordingly, the southern economic hub aims to maintain the services sector’s share in the GRDP at over 60 percent, total investment in society accounting for about 35 percent of the GRDP, and labour productivity increasing 5.7 percent annually.

Vo Thi Ngoc Thuy, a deputy of the People’s Council, held that on the basis of the socio-economic development in 2020, efforts by the whole political system, and local residents’ solidarity, HCMC is completely able to achieve the growth target of 6 percent next year.

To create favourable conditions for economic stability, recovery, and development in the post-pandemic period, the city should further support human resources training and provide timely assistance for COVID-19-hit businesses, she suggested.

Director of the municipal Department of Planning and Investment Le Thi Huynh Mai said amid numerous difficulties caused by COVID-19, HCM City has yet to achieve some targets for this year but still obtain positive growth, thus contributing to economic performance of the whole country.

She added that it will keep exerting efforts to secure 6-percent growth next year while devising an aid package of some VND4 trillion (US$172.9 million) for pandemic-hit enterprises, in which VND1 trillion  will be spent on stimulating tourism.

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