HCMC strives to achieve 80 percent of public investment disbursement this year

The disbursement of public investment capital may not achieve the target of 95 percent but it must not be less than 80 percent of the plan by the end of the year.
Chairman of the HCMC People’s Committee Phan Van Mai speaks at the conference. (Photo: SGGP)

Chairman of the HCMC People’s Committee Phan Van Mai speaks at the conference. (Photo: SGGP)

The statement was made by Chairman of the HCMC People’s Committee Phan Van Mai at the 23rd congress of the Executive Committee of HCMC Party Organization of the 11th tenure in the 2020-2025 period opened on October 10.

At the meeting, delegates agreed with the report on the city's socio-economic performance in the first nine months of 2023.

According to the HCMC People’s Committee, the city’s third quarter growth rate achieved 6.7 percent, contributing to the growth rate in the first nine months of the year reaching 4.57 percent. The index of industrial production (IIP) was estimated to increase by 3.2 percent year-on-year while the four key industrial sectors, including mechanics, food processing, chemicals, plastics and rubber, electronics, and information technology, grew by 5.8 percent compared to the same period last year. The city’s tourism continues impressive growth momentum. The city is expected to gain 19/21 socio-economic targets by the end of the year.

Delegates attend the congress. (Photo: SGGP)

Delegates attend the congress. (Photo: SGGP)

The city’s chairman affirmed that HCMC had a great movement in the past nine months and received many opinions, suggestions, solutions, and advice from experts and businesses on taking advantage of and promoting the effectiveness of Resolution 98. In addition, the newly-approved resolution has also attracted strategic investors at home and abroad.

The city will continuously promote public spending, and public investment, stimulate consumption making the consumption column hit the highest point in the fourth quarter, and expand cooperation with regions.

Secretary of the HCMC Party Committee Nguyen Van Nen speaks at the event. (Photo: SGGP)

Secretary of the HCMC Party Committee Nguyen Van Nen speaks at the event. (Photo: SGGP)

Speaking at the event, Secretary of the HCMC Party Committee Nguyen Van Nen noted that the municipal authorities need to pay attention to the direction of public investment to stimulate demand for supporting growth besides accelerating disbursement of public investment.

The city needs to solve the problems of businesses to access credit support packages and exemption policies of taxes, and land use levy as well as promote domestic consumption and price stability.

He pointed out obstacles in relationships among administrative procedures, legal procedures, regulations, and demands of people and enterprises for solving their issues in the actual situation; and between ministries and departments.

He hoped that heads of Government agencies at all levels, cadres, civil servants, and employees would increase responsibility and have good performance at work. It is important to praise cadres with excellent results in study and work while strictly punishing those violating regulations, the city Party Chief stressed.

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