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HCM City reports on economic growth   2009-06-25 - VNBusinessNews

The results of socio-economic situation in the first half of the year, as well as giving plans to develop the social economy in the second half of the year, were presented at the 16th meeting of Session VIII of the Ho Chi Minh City’s Party Executive Committee on June 25.

The 16th meeting was held in Ho Chi Minh City, and attended by various representatives from the city’s People’s Committee, Party Committee and People’s Council.

According to a report by the People’s Committee, in the first six months of this year the city’s growth increased by around 4.6 percent over the same period, its lowest rate in the ten years.

Industry and construction increased by three percent, agriculture, forestry and aquaculture was up 3.4 percent, and the service sector rose 18.7 percent.

Total estimated exports were US$8.9 billion, a decrease of 21.8 percent over the same period.

Despite economic situation in recent months, the speed of growth has shown positive signs and is increasing month on month.

The improving economic situation in the second quarter of the year was due, in part, to the Government’s stimulus packages and efforts at all State levels, officials said.

The city’s consumer price index in the first six months of this year is estimated to have increased by 3.1 percent compared with last December.

City authorities are also focused on improve training, education, health and protecting the environment to help realize continued growth.

Ho Chi Minh City social-economic goals for 2009

* Economic growth of at least 10 percent.

* Total revenues of VND 122,327 billion (US$7.02 billion) with export revenues increasing by 16.5 percent.

* City Budget Expenditure totals VND21,898 billion, including VND7,222 billion or 32.98 percent invested in development projects.

* Consumer Price Index (CPI) rises by less than 15 percent.

* 55 percent of the workforce is trained, 270,000 more jobs are created and unemployment is cut to 5.3 percent.

* Poor households with each member’s income less than VND12 million a year accounts for a maximum of 13.8 percent by the year end.

* 91.5 percent of families have access to clean water.

* Public means of transport are used 480 million times.

* 95 percent of environment polluters are penalized and 100 percent of industrial zones and export processing zones are equipped with wastewater
treatment systems.

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