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Ha Noi lays out plans to increase income growth

Update: December, 03/2013 - 10:01
Ha Noi authorities have been making effort to achieve annual economic growth of 8.25 per cent and raise per capita income to VND58 million (US$2,720) in 2014.— Photo petrotimes
HA NOI (VNS) — Ha Noi authorities have been making effort to achieve annual economic growth of 8.25 per cent and raise per capita income to VND58 million (US$2,720) in 2014.

This target was revealed in this year's report on the nation's socio-economic situation and orientation for 2014 at the opening ceremony of the municipal People's Council yesterday.

According to the report, in 2013 the economic growth of the city has shown signs of recovery, as proven by higher economic growth seen in most sectors when compared to the previous quarter.

Also, the gross domestic product rose 8.25 per cent, an increase of 0.19 per cent compared to the previous year. Of this, the service sector rose 9.42 per cent, the construction industry was 7.56 per cent and the agricultural sector was 2.46 per cent.

The per capita income of city residents was about VND52.3 million ($2,450) per person – an increase of VND10.5 million ($493) per person over 2011.

The city also set a goal to raise the average level of income per capita in 2014 to VND57.5-58 million ($2,702-2,720) per person and reduce the poverty rate to 0.8 per cent.

In 2013, the city approved and adjusted 470 foreign-invested projects with a total registered investment capital of $1.3 billion.

There were also about 14.950 newly-registered enterprises, a rise of 12 per cent over the previous year, and the number of businesses which announced bankruptcy or paused its operations declined.

However, according to Chairwoman of the council Ngo Thi Doan Thanh, the city still had shortcomings. The ratio of bad debts remained high, accounting for 6.94 per cent of total loans, despite efforts by credit institutions on curbing and handling the increase of bad debts.

Further, the export turnover was down, the environmental pollution in industrial areas remained high and reforms of administrative procedures was ineffective.

The city's committee has agreed that work in 2014 would continue to focus on removing difficulties for enterprises and developing businesses.

The city would also re-examine and adjust regulations to create more favourable conditions for individuals and enterprises to enhance production and improve competitiveness.

The city also approved the programme on developing areas specialising in agricultural production during the period of 2014-20, issued land prices and discussed changing the border of Tu Liem District. — VNS

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