PM Nguyễn Tấn Dũng today presided over a meeting between the Government and leaders of Hồ Chí Minh City to review the city’s socio-economic development tasks in 2008 and the plan 2009.
This year, despite challenges caused by the global economic recession, Hồ Chí Minh City has made efforts to fulfill 15 out of its 20 set norms of socio-economic development.
Representatives of many ministries highly valued the city’s achievements and efforts. They stressed that, with the quarterly economic growth rate of 11%, high capital mobilization and the increasing number of investors, Hồ Chí Minh City can rank the 13th out 63 provinces nationwide in terms competitiveness.
They also suggested the municipal authority to establish a financial company; remove some industrial facilities to the outskirts; plan universities and colleges; upgrade transport and drainage systems; and build a software park.
Concluding the meeting, PM Nguyễn Tấn Dũng urged the city to drastically put the Government’s five solutions into reality in order to prevent economic recession; support producers and laborers; modernize its economic structure; promoting scientific and technological applications; and enhance urban safety, traffic and administrative reforms.
The PM assigned the Ministry of Finance to early implement the plan on Hồ Chí Minh City financial company. He also agreed to remove some university out of the city’s downtown and permitted the city to issue bonds worth of US $1 billion to finance socio-economic projects next year.
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Hồ Chí Minh City’s socio-economic achievements in 2008
- GDP growth rate: 11%.
- Total FDI capital: US $8 billion, increasing 3.3 times against the same period last year
- The city hosted 170 fairs and exhibitions, attracting thousands of domestic and foreign enterprises;
- “One-stop shop” model popularized;
- 277,800 new jobs created;
- Poverty rate reduced to 0.6%;
- Significant results gained in many fields, including SOE streamlining and equitization, urban management and planning, public health care, education, and others.
Leaders of the city also pointed out some shortcomings. For example, the scarcity of skilled labor force forces many enterprises to curtail their production and readjust their investment plans.
The Economic Restructuring Program 2006-2010 has not been realized fruitfully.
There remain many unsolved issues relating to traffic, environmental hygiene, complaints on site clearance and compensation.
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In 2008, Hồ Chí Minh City’s GDP is estimated to reach VND 289,550 billion, up 11%. Services increased 12.4%; industry and construction 8.9%; agriculture 1.5%. Total trade turnover was USD 40.66 billion, including US $22.33 billion from export (up 21.8%) and US $18.33 billion from import (up 22.2%). Over VND 118,000 billion has been collected to the budget.
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