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VietNamNews

Capital city maintains strong growth despite tough climate

Update: December, 04/2012 - 10:11

HA NOI (VNS)— The capital's economic growth for 2012 is estimated at 8.1 per cent, lower than the 10 per cent targeted for the year but reportedly 1.55 times higher than the national average.

Speaking at the year-end meeting of the city's People's Council in Ha Noi yesterday, deputy chairman Nguyen Van Suu said that it was a good result given the current global economic situation.

"To achieve this, the city has thoroughly implemented measures to control inflation, support local enterprises, reduce traffic congestion, and develop agricultural production and rural infrastructure," Suu said.

Reports at the meeting also pointed out weaknesses in the city's economy, including high inflation, difficulties accessing credit and downsizing, as a consequence of the global economic slowdown.

In 2013, the city aims to achieve economic growth of 8-8.5 per cent, with development investment increasing from 15-16.5 per cent and exports up to 9-10 per cent.

The city plans to control inflation and ensure social welfare and security, support production, and balance the supply and demand for essential commodities.

Its targets focus on strong administrative reforms, more favourable conditions for enterprises, and human resources development.

The council has also reserved the whole of Wednesday for a Q&A session for authorities to response to public concerns. The session will be televised. — VNS

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