Vietnam Biggest Hub Targets 13 per cent Industrial Growth in 2009
The southern economic hub of Ho Chi Minh City has set a target of industrial production growth rate of 13 per cent this year.
The city has given priority to the development of engineering, electronics-IT, chemicals and food processing industries so they can attain growth rates ranging from 13.5 per cent to 14.5 per cent in 2009.
The city will also speed up the restructuring of its economy towards the extensive use of hi-tech industries while reducing the sectors which extensively use mineral and labor resources.
The city’s export will also be restructured to increase industrial goods, especially hi-tech goods, while reducing the ratio of agricultural, forestry and aqua products.
Ho Chi Minh City targets total export turnover of US$22 billion this year, an on-year increase of 22 per cent and total imports of US$23.5 billion, up by 6.5 per cent over 2008.
Total retail and service turnover for this year is estimated at VND290.7 trillion, an on-year rise of 25 per cent.
The city’s consumer price index (CPI) will be kept at under 15 per cent this year. (VNS)
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