The southern metropolis of HCMC needs to focus on improving domestic supply capacity and key market links with the southern economic region in order to promote industrial production and maintain the industrial sector's pillar role in the economy.
Despite positive signs witnessed in Ho Chi Minh City (HCMC)’s industrial production in April, businesses continue to encounter numerous difficulties due to a lack of orders and pressure from bank loan interest payments.
Drastic measures are needed for Ho Chi Minh City (HCMC) – the country’s largest economic hub - to address a series of problems in a bid to speed up recovery, experts have said.
In the next two months of the second quarter, several major projects in the processing and manufacturing industry are expected to be completed, creating additional capacity for industrial production.
Party General Secretary Nguyen Phu Trong on January 31 chaired a meeting of the Party Central Committee’s Secretariat to review the organization of Tet celebrations and look into major tasks in the time ahead.
Climate change is becoming more and more severe, mainly due to excessive greenhouse gas emissions from socio-economic development activities; therefore, Ho Chi Minh City has urban planning for low-carbon sustainable development.
The World Bank (WB) released the June edition of its monthly Vietnam Macro Monitoring on June 13, highlighting that the economic recovery remained strong despite heightened global uncertainties.
By the end of the first quarter of 2022, industrial production in Ho Chi Minh City has prospered, with the added value of the whole industry increasing by 5.5 percent. Along with that, export turnover of goods is estimated at nearly US$11.9 billion, up 3.5 percent; foreign direct investment capital reaches nearly VND10 trillion. This shows that HCMC's economic growth is recovering strongly.
According to research by Savills Vietnam, Vietnam's industrial production in the first two months of 2022 increased by 8.4 percent over the same period last year. The growth rate improved sharply in February compared to the previous month.
The General Statistics Office of Vietnam yesterday said that the consumer price index (CPI) in October 2021 dropped 0.2 percent compared to the previous month but increased 1.67 percent over December 2020 showing a downtrend over the previous years.
The General Statistics Office of Vietnam (GSO) has just said that thanks to a fairly high increase in industrial production in January this year compared to January last year, the index of industrial production (IIP) in the first two months of this year still rallied 7.4 percent year-on-year.
Nearly 93,500 enterprises have had to leave the market since the beginning of this year, an increase of 15.6 percent over the same period last year. The Covid-19 pandemic has developed complicatedly and has been negatively affecting the production of domestic enterprises.
Mr. Nguyen Thanh Phong, member of the Central Party Committee, Chairman of the People's Committee of Ho Chi Minh City, on November 3 chaired a meeting on economic, cultural, and social situation and national defense and security in October and the first ten months of the year, and deploy missions and solutions for November.
The purchasing power in the market has shown signs of improvement, but in general, it remains extremely weak. Especially in markets, purchasing power is significantly decreasing. The situation that small traders hand back their stalls or stop their business to avoid taxes and fees has commonly happened.
The Government has just released a report to the National Assembly on a five-year economic reform review. In which, the Government stated that the structure of the economic sectors continued to have positive changes and in the right direction; the proportion of processing, manufacturing, and high-tech industries increased; the investment and business environment improved.
The report of the Department of Industry and Trade of Ho Chi Minh City on the situation of industrial production and commercial activities in the city in the first eight months of this year has shown many bright spots with basic indexes of industry, retail sales, and exports all making increases, although the increases were not as high as those in the same period of previous years.
The Covid-19 pandemic recurred at the end of July, causing industrial production in August this year to continue to face difficulties, the General Statistics Office of Vietnam said in the August report, released on August 29. Meanwhile, the situation of the pandemic did not seem to affect too heavily the sentiment of the business community as the number of newly-established enterprises in August still rose by 1.5 percent with registered capital increasing by 20.7 percent compared to last month.
Although business activities of Vietnamese enterprises have been recovered rapidly as the country has controlled well the Covid-19 pandemic for more than two months, according to a report released on July 10 by the Ministry of Industry and Trade (MoIT), the inventory of goods of Vietnamese enterprises is extremely high.
