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| A view of Ho Chi Minh City |
Phong said that if the city fails to record an economic growth of 8.3% for the whole year, it will have to struggle to fulfil its goal of collecting VND376.78 trillion (US$16.2 billion) towards its budget by the year’s end.
Director of the city’s Department of Planning and Investment Su Ngoc Anh said that in the first 10 months of 2018, the city’s total retail and services revenue was estimated at VND860.35 trillion (US$36.99 billion), up 12.9% year-on-year.
Meanwhile, total exports of the city hit US$31.3 billion, up 7.1% over the same period last year, while its imports were US$38.3 billion. Total foreign tourists visiting the city reached 6.1 million, a surge of 20.2%.
Anh noted that in the first 10 months of 2018, HCM City collected over VND306.38 trillion, equivalent to 81.32% of the estimate and representing a rise of 9.89% year-on-year.
As many as 35,585 new firms were set up in the period with a total registered capital of nearly VND450 trillion, an increase of 5.2% and 95.4%, respectively.
Director of the city’s Department of Industry and Trade Pham Thanh Kien reported that trade and business in the city has remained stable over the given period.
Phong said that for the rest of the year, municipal agencies should keep a close eye on budget expense and collection, avoiding losses in revenue and tax payments, while also boosting production to complete the target set for budget collection.
He asked the Department of Industry and Trade to promote trade and business to supply goods for the Lunar New Year holiday, as well as hold a meeting between retailers and production firms to foster their connections.
The Department of Tourism was requested to diversify its products and seek measures to optimise waterway tourism.
Phong also stressed the need to revoke land used for wrongful purposes of auctioning, as well as deal with stagnant projects to create more land stock.
VNA