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HCM City aims for major growth by 2020

Update: May, 14/2013 - 10:14
HCM City hopes to more than double its average income by 2020 and triple it by 2025, according to a master plan approved by the People's Council yesterday.— VNS File Photo

HCM CITY (VNS)— HCM City hopes to more than double its average income by 2020 and triple it by 2025, according to a master plan approved by the People's Council yesterday.

From US$3,600 last year it is expected to go up to $8,430-8,822 by the end of the decade and to around $14,000 by 2025.

However, the 2025 target of $13,900 would only be marginally higher than the 2010 figures for Jakarta and Bangkok.

These figures were released in a report by Nguyen Van Dong, head of the city People's Council's Economy and Budgets Department, at the 9th meeting of the People's Council yesterday.

The Council approved the income growth targets of 10-10.5 per cent for the 2011- 2015 period set in the master plan.

"These growth rates are reasonable," he said.

The Council urged the municipal People's Committee to give priority to improving the administrative work, and called for measures to strengthen social welfare, saying a master plan for development "must aim to improve living standards".

The committee should tweak the housing policy, giving priority to re-settlement projects, relocating people living along rivers and canals, renovating run-down tenements, and providing housing for the poor. — VNS



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