At the meeting on socio-economic growth in the first quarter of 2022
On the afternoon of April 5, the People's Committee of Ho Chi Minh City held a meeting on socio-economic growth in the first quarter of 2022 and the key tasks for the second quarter of 2022 with the participation of Secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen, Chairman of Ho Chi Minh City People’s Committee Phan Van Mai and Chairwoman of HCMC People’s Council Nguyen Thi Le.
Director of Ho Chi Minh City Department of Planning and Investment Le Thi Huynh Mai
Reporting on the socio-economic situation, Director of Ho Chi Minh City Department of Planning and Investment Le Thi Huynh Mai said that the growth rate of Ho Chi Minh City's gross domestic product (GRDP) in the first quarter of 2022 was estimated to increase by 1.88 percent compared to the same period last year.
From a deep decline in the third and fourth quarters of 2021 with -24.97 percent and -11.64 percent respectively, until now, Ho Chi Minh City's economy has gradually stabilized and recovered positive growth.
The city’s economic recovery has shown that the potential and vitality of Ho Chi Minh City's economic enterprises are quite good, said Ms. Le Thi Huynh Mai.
The service sector saw an increase of 2.87 percent over the same period, contributing 96.8 percent to the growth rate of GRDP. Particularly, the city's nine major service sectors surged by 4.2 percent.
Director of the municipal Department of Finance Pham Thi Hong Ha
Up to now, over 98 percent of production facilities have opened factories and production establishments, allowing smooth and uninterrupted circulation of goods. Retailers, distribution systems, restaurants, hotels, and food and beverage shops have resumed their normal operation, both direct and offline sales.
In addition, although Ho Chi Minh City's export activities are still affected by the Covid-19 pandemic and some markets have seen political conflicts, the import and export turnover in the first quarter continued to maintain a recovery momentum. The city’s total export turnover of goods through the national border gate in the first three months of the year was estimated at US$11.9 billion, up 3.5 percent over the same period, an increase of 2.2 percent against the same period last year.
Total tourism revenue in the first quarter of 2022 is estimated at nearly VND20,400 billion, down by 11.8 percent over the same period with over VND23,100 billion, attaining more than 30 percent of the 2022 plan. Around 4.8 million tourists from corners of the country arrived in Ho Chi Minh City, down by 0.1 percent over the same period.
The index of industrial production (IIP) in the first three months of the year was estimated to increase by 1.04 percent over the same period last year. Four key industry groups are estimated to increase by 5.39 percent over the same period by 7.5 percent. The electronics manufacturing industry is estimated to decrease by nearly 13 percent over the same period which increased by 24.7 percent due to a decrease in the output of consumer electronics and electronic components.
The pharmaceutical chemistry - rubber - plastic industry is estimated to increase by nearly 19 percent over the same period. The food and beverage processing industry is estimated to increase by 3.2 percent over the same period. The mechanical industry is estimated to increase by 4 percent over the same period.
In the first quarter, there have been approximately 9,150 newly-licensed enterprises with a total registered capital of nearly VND146,000 billion (an increase of nearly 28 percent in the number of enterprises and a decrease of 7.3 percent in registered capital over the same period).
However, there have been 938 enterprises submitting the application for dissolution, down nearly 21 percent over the same period while more than 10,300 enterprises suspended operations, up 58 percent over the same period and 6,248 enterprises resumed operation, up nearly 397 percent over the same period.
Regarding state budget revenue and expenditure, Director of the municipal Department of Finance Pham Thi Hong Ha said that the main indicators all had high growth and high rates.
Total state budget revenue in the first quarter of 2022 is estimated at more than VND 121,000 billion, reaching 31.3 percent of the estimate and increasing by 9.4 percent over the same period. This growth paved the way for a good start in 2022, reflecting the recovery and positive economic development of the southern largest city.
