Ho Chi Minh City Economic Recovery on Track

2:49:08 PM | 27/6/2012

The country’s largest economic hub has achieved the GDP growth of 8.1 percent in the first half of 2012, showing signs of steady recovery, says mayor Le Hoang Quan.
Quan says the city’s gross domestic product (GDP) increased by 8.8 percent in the second quarter, which is higher than the 7.4 percent recorded in the first quarter.
In the second half of this year, the city will focus on promoting production, containing inflation and stabilizing the macroeconomy to lay a firm foundation for sustainable growth in the future. It will also speed up economic restructuring to improve quality, efficiency and competitiveness.
To fulfill the set targets, HCM City is accelerating the restructuring of State-owned enterprises, promoting trade, investment, tourism and services, and meeting with businesses to effectively and quickly deal with their difficulties.
It also aims to increase exports, reduce imports and encourage local people to use Vietnamese products.
Quan says that the city will apply tight monetary policies flexibly and efficiently, and propose adjusting interest rates to support businesses, especially small-and medium-sized export, processing and support industry enterprises in taking out bank loans.
It will also ask relevant agencies to manage budget collections more effectively and mobilize capital for key projects.