HCM CITY — HCM City authorities have agreed to focus on efforts to help companies sustain and develop their business activities.
|A worker of the HCM City-based My Chau Print and Packaging Company operates canning equipment. Local businesses will receive lending priority under the city's policies to help them tackle difficulties. — VNA/VNS Photo Dinh Hue
Speaking at a meeting to review the city's socio-economic performance in the first quarter, chairman of the municipal People's Committee Le Hoang Quan told local and Government agencies to help businesses tackle their difficulties.
The city would work with the State Bank of Viet Nam to lower bank lending interest rates and ensure companies could access credit.
Lending priority would be given to export-processing, processing, and support industries, and small- and medium-sized enterprises with larger numbers of workers.
The city would also strive to boost the manufacturing and construction sectors.
It would hold discussions with industries to help them expand production and thus create more jobs.
At the same time it would speed up implementation of social-welfare policies like the hunger eradication and poverty alleviation and price stabilisation programmes.
Government agencies should focus on boosting the city economy by restructuring State-owned companies and the finance and banking sectors.
His instructions followed reports of poor economic performance in the first quarter when GDP grew by just 7.4 per cent compared to 10.3 per cent a year ago.
The services and industrial and construction sectors grew at 8 per cent and 6.6 per cent, down from 10 per cent and 10.9 per cent.
The only silver lining was the downward trend in the consumer price index during the period. — VNS