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Deputy Head of HCMC Statistics Office Tran Phuoc Tuong is delivering his speech (Photo: SGGP) |
Deputy Head of HCMC Statistics Office Tran Phuoc Tuong delivered explanations for the city’s economic growth rate of this quarter at 5.87 percent.
One of the major reasons is positive signs in industrial manufacturing. The Index of Industrial Production (IIP) in May was estimated to increase by 1.51 percent and 5.45 percent compared to April and this time last year. The accumulation for the first five months reveals a rise of 1.62 percent as opposed to this time last year.
Another factor comes from strong domestic consumer power. Hence, the total retail sales of commodities this May developed by 9.4 percent compared to the same period last year, which is quite promising when exports are on the wane.
In addition, public investment disbursement has been accelerated, while inflation shows signs of a drop and the business environment is gradually improving. The number of companies going out of business from January is 18,243 whereas the quantity of newcomers is nearly 25,100.
Until the end of this year, HCMC is going to adopt multiple solutions to boost economic growth further, including supporting businesses in need, controlling inflation, speeding up public investment disbursement, improving the efficiency of labor supply – demand connection, promoting investment attraction, seeking new import-export markets to replace current ones which are seeing trouble.
