Updated  
December, 09 2013 08:38:00

PM says maintaining economic stability crucial for HCM City

Prime Minister Nguyen Tan Dung praises the city's gains from 2011-13, with annual economic growth of 9.6 per cent, 1.74 times higher than the country's average. Social welfare, education, health care and employment have also fared well.—  Photo Tran Trong Anh Tu
HCM CITY (VNS) — Prime Minister Nguyen Tan Dung has urged HCM City to maintain its GDP growth by restructuring all sectors and adopting technological advances in both industry and farming.

Holding a working session in the city last Saturday with municipal authorities to discuss its 2013 socio-economic and cultural performances and tasks for 2014-15, the PM insisted on maintaining economic stability, with inflation hovering about 7 per cent in the next two years, during which the gold market and value of Vietnamese dong must be stabilised.

He also demanded that the city retain its price stabilisation scheme and improve liquidity in the banking sector.

Further, he asked for strong actions to achieve next year's goals, as the global economy is expected to perform better than this year and HCM City remains in a good position to move forward against the backdrop of a recovering home economy and socio-political stability, he said.

Dung also praise the city's gains from 2011-13, with annual economic growth of 9.6 per cent, 1.74 times higher than the country's average. Social welfare, education, health care and employment have also fared well.

According to Chairman of the municipal People's Committee Le Hoang Quan, the gross domestic product (GDP) per capita reached over US$4,500 in late 2013, 1.4 times higher than the $3,200 recorded in late 2010.

Additionally, over the past three years, the city's economic structure had witnessed a shift to more high-value and competitive sectors, such as finance-banking-insurance, tourism, post and telecommunications, science-technology, education and health care, reported Quan.

Also, goods and service sales grew by 17.6 per cent, earning over VND1.6 trillion ($76 million), while the consumer price index rose by 6.9 per cent, lower than the nation's average of 9.15 per cent.

Quan told the Prime Minister that about 1.4 million households, or 89 per cent of the local population, has access to clean water supplies, while in rural areas, the rate has reached 99.2 per cent.

In the next two years, the city plans to achieve a GDP growth of 10.5-11 per cent. The annual value-added growth of the service, industry and agriculture sectors is estimated at 12.5 per cent, 9 per cent and 5 per cent, respectively.

Vice Chairwoman of the municipal People's Committee, Nguyen Thi Hong, also briefed the Prime Minister about local preparations for the upcoming lunar New Year. — VNS

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