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HCM City is on tar­get to meet or ex­ceed most of its so­cioe­co­nomic growth tar­gets for this year, sig­ni­fy­ing a ro­bust re­cov­ery, of­fi­cials say.

HCM City’s eco­nomic out­put in the first nine months of 2014 was VNÑ593.5 tril­lion (over US$28.1 bil­lion), an in­crease of 8.9 per cent year-onyear, ac­cord­ing to the HCM City Peo­ple’s Com­mit­tee, which re­leased the fig­ures at a Party Com­mit­tee meet­ing yes­ter­day.

“Most eco­nomic tar­gets were reached with growth rates higher than in 2013,” Leâ Hoaøng Quaân, chair­man of the city Peo­ple’s Com­mit­tee, said in a re­port re­leased at the open­ing ses­sion of the meet­ing.

“They in­di­cate the re­cov­ery of the business sec­tor.”

In the pe­riod re­tail sales rose 12.5 per cent to VNÑ416.15 tril­lion (US$19 bil­lion), and in­dus­trial pro­duc­tion by 6.8 per cent.

Ex­ports topped $23.8 bil­lion, a 3.5 per cent rise. Ex­ports of cof­fee were up 35.58 per cent, while those of rice, gar­ments, seafood, and footwear rose by 15.25 per cent to 4.62 per cent.

This year the city has li­censed 292 FDI projects with to- tal in­vest­ments of $1.23 bil­lion, a year-on-year in­crease of 67.7 per cent. Another 88 for­eign projects were al­lowed to in­crease their cap­i­tal by $218 mil­lion.

Nearly 17,000 lo­cal busi­nesses with to­tal cap­i­tal of nearly VNÑ93 tril­lion (US$4.3 bil­lion) were also li­censed, ayear-on-year in­crease of 5 per cent in in­vest­ment.

City au­thor­i­ties promised mea­sures to help the business sec­tor boost pro­duc­tion and trade in the last quar­ter.

They in­clude mea­sures to de­velop the ma­jor hi-tech in­dus­tries, draft­ing plans for de­vel­op­ing sup­port­ing in­dus­tries, ap­prov­ing mea­sures to stim­u­late de­mand, and act­ing as a bridge be­tween banks and the business sec­tor.

Pri­or­ity would be given for fi­nan­cial support for com­pa­nies in agri­cul­ture and ru­ral de­vel­op­ment, ex­ports, sup­port­ing in­dus­tries, and hi-tech, Quaân said.

“With the growth rate in Au­gust reach­ing 10.3 per cent, HCM City is ex­pected to at­tain a growth rate of 9.5per­cent in the last quar­ter,” he added. —

— VNA/ VNS Photo Kim Phöông

A stretch of Nguyeãn Vaên Linh Boule­vard in HCM City. Most the city ’ s eco­nomic tar­gets for the year have been reached with growth rates higher than in 2013, ac­cord­ing to fig­ures re­leased at a Party Com­mit­tee meet­ing yes­ter­day.

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