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Ha Noi growth rate to hit yearly forecast

Update: October, 22/2013 - 09:25
Concrete pipes produced by Ha Noi-based Song Day Construction Material Production JSC. In the third quarter, Ha No's GDP posted a growth rate of 8.35 per cent, higher than the rate of 7.5 per cent of the first quarter. — VNA/VNS Photo Danh Lam

HA NOI  (VNS)  — The Ha Noi People's Committee has predicted that the city's economy in the fourth quarter could grow by 8.9-9 per cent and rise to 8.1-8.2 per cent for the entire year, fulfilling the yearly target.

In the third quarter, Ha Noi's GDP posted a growth rate of 8.35 per cent, higher than the rates of 7.5 per cent and 7.85 per cent of the first and second quarters respectively.

The rise in GDP for the first nine months of this year reached 7.88 per cent, much higher than the country's average growth of 5.14 per cent, with positive increases seen in such areas as services (8.9 per cent), industry and construction (7.42 per cent), and agriculture (2.35 per cent).

Also during the nine-month period, 11,410 new enterprises were established with a total capital of VND69.3 trillion (US$3.26 billion), up by 8.2 per cent year-on-year, while 6,538 enterprises ceased operations, down by 19 percent year-on-year.

Savings amongst local credit institutions has been safer and liquidity more secure, meeting capital demands for trade and investment from local enterprises.

Authorities said one of its key tasks was to remove difficulties for enterprises to boost production and business activities. From the beginning of this year, the municipal Department of Industry and Trade has made efforts to expand the export market.

Pham Duc Tien, Deputy Director of the department, last week told Radio the Voice of Viet Nam that so far, Ha Noi has spent VND50 billion ($2.4 million) on trade promotion. Apart from such traditional markets as the US and the EU, Ha Noi will approach new markets like South Africa, Brazil and South America. Some businesses have agreed to export goods to the Brazilian market.

The city's administration also said its key task in the last three months of this year is to be patient in the adoption of support measures for local enterprises, helping them boost production and business operations.

Ha Noi also created favourable conditions for enterprises by improving the management efficiency of local authorities at different levels, implementing administrative reforms with a focus on simplifying administrative procedures, intensifying the fight against corruption and waste, practising thrift and creating a transparent working environment for local enterprises. — VNS


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