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Authorities assess City development

Update: August, 31/2013 - 09:58

HCM CITY (VNS)— A Government delegation headed by Deputy Prime Minister Vu Van Ninh reviewed HCM City's socio-economic performance in the last three years and discussed goals for the next two at a meeting in the city yesterday.

Ninh, who was apprised about the city's good economic performance, said however that the administration had to be more pro-active to achieve the targets set for the next two years.

According to the municipal People's Committee, averaged economic growth in the last three years had been 9.5 percent, almost twice the country's averaged rate.

Ninh described HCM City as the economic driving force for not just the region but the whole country, with revenues reaching VND624 trillion (US$29.7 billion), or 30 percent of the country's total amount.

But it needs to help businesses overcome their problems and speed up restructure of State-owned enterprises in the city, he said.

He wanted the city to work with the State Bank of Viet Nam to deal with bad debts and liquidate the property market inventory.

He told Le Hoang Quan, Chairman of the People's Committee, and his deputy Nguyen Thi Hong, that the Government approves the city's tax revenue plans including breaks for companies that contribute to public welfare.

Despite the achievement of the last three years, the city leaders admitted that the quality of growth had been modest and the economic potential had not been optimally exploited.

Ninh hailed the city government for its successful efforts to stabilise the economy and ensure social welfare in the last few years.

Despite the challenges, the city had achieved impressive results, he added.

HCM City has announced plans to achieve annual economic growth of 10-10.5 percent and per capita income of US$4,800 in 2015.

City leader sees positive

HCM City has seen good signs this year with stable socio-economic growth in the first eight months of 2013, HCM City People's Committee Chairman Le Hoang Quan said at a meeting on Thursday.

According to the municipal People's Committee, the city saw retail sales and services turnover rising 12.9 per cent year-on-year to VND50,794 billion (nearly US$2.4 billion) in August.

Total retail sales and services turnover in the first eight months of 2013 was VND389,377 billion (nearly $18.4 billion), an increase of 12.2 per cent over the same period in 2012.

Industrial production grew 5.5 per cent in the first eight months, compared to 4.2 per cent during the same period in 2012.

As of 20 August of this year, HCM City had granted licenses to 260 new foreign direct investment projects with a total capital of $587.7 million, up by 0.43 per cent compared with the same period last year.

Quan said that in the last four months of 2013, the city will step up efforts to promote investment, trade, tourism and services; and strengthen the campaign to increase production and consumption of Viet Nam-made goods in the domestic market.

The city will also enhance inspections and supervision to speed up major infrastructure development projects, he said.

Quan asked the city's departments and district authorities to take measures to help businesses overcome difficulties and expand markets for Viet Nam-made goods.

He asked relevant agencies to improve budgetary income management by combating revenue losses, collecting tax arrears and ensuring strict and effective expenditure control.

The city will put more than 1,200 new classrooms into operation in the new school year that will officially opens on September 5. As a result, all school-age children, including children of parents with temporary residence status, will be admitted into primary schools in the city.

Quan asked the Department of Education and Training to inspect schools and ensure that they are not charging excessive tuition fees.

Addressing the issue of the managerial cadre rewarding themselves with high salaries and bonuses at HCM City-based State-owned companies, Quan said these wrongdoings are "unacceptable".

Even if these companies were making profits, the money must be reserved in investment and development funds instead of being divided up by its leaders, he said.

He said the city will take disciplinary measures against these wrongdoings to restore order and discipline among State-owned companies. — VNS


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