HCM City enjoys robust economic achievements
Ho Chi Minh City recorded key economic achievements in the first five months of the year, heard the municipal People’s Committee’s meeting on May 30.
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According to report from the municipal Department of Planning and Investment, total revenue from retail trade and services reached nearly VND84.5 trillion (US$3.72 billion) in May, bringing total earnings for January-May to VND421.9 trillion (US$18.56 billion), or 11.9% higher than the same time last year.
Total budget collection was estimated at more than VND154.3 trillion (US$6.79 billion), 41% of the annual target.
The city raked in US$14.5 billion from exports, a year-on-year rise of 5.5%. Strong export growth was recorded in Hong Kong (China) with 17%, Taiwan (China) with more than 60% and Indonesia with more than 78%. Meanwhile, shipments to the US, the Philippines, Singapore, Malaysia and Germany were stagnant in the period.
It spent in excess of US$18 billion on imports of equipment and material for production like machines, tools and spare parts.
HCM City licensed the establishment of 16,493 domestic firms with total registered capital of VND185.5 trillion (US$8.16 billion). Meanwhile, the city secured US$1.85 billion in foreign investments from January-May, up 34.7% compared to last year’s same period.
