Businesses receive certificates for their goods recognised as "Outstanding Industrial and Supporting Industry Products of HCM City" for 2024 in HCM City on January 7. — VNA/VNS Photo

HCM CITY — The HCM City Department of Industry and Trade will implement a number of measures to improve the productivity, quality, efficiency, and the competitiveness of the city’s industrial sector, help businesses explore foreign markets, and develop logistics infrastructure to connect with major economic hubs, its deputy director has said.

Speaking at a conference the department organised to review its activities in 2024 and outline tasks for 2025 on January 7, Lê Huỳnh Minh Tú said, following a sharp growth in 2023, the city’s industrial and trade sector achieve remarkable results in 2024, with the index of industrial production rising by 7.3 per cent and retail sales of goods by 10.6 per cent to VNĐ565 trillion (US$22.3 billion).

Exports in 2024 are estimated at $47 billion, a 10.6 per cent increase, and imports at $60.7 billion, up 9.8 per cent, he said.

The rapid development of modern shopping centres and e-commerce is shifting consumer behaviour, resulting in a major decline in sales at traditional markets and retail stores.

Rising logistics costs and increasingly stringent standards set by import markets, especially for footwear and textiles, have caused difficulties for businesses trying to expand markets.

Tú said in light of these difficulties the department has plans this year for measures such as developing industries associated with smart technologies and digital transformation to enhance the industrial sector’s productivity, quality, efficiency, and competitiveness.

It will organise a consumption stimulus programme, promotional campaigns, a programme to link up businesses in HCM City and other cities and provinces.

It will invest in a synchronised logistics infrastructure system to connect the city with other economic hubs, with construction to start on at least one logistics centre by April 30.

Nguyễn Văn Dũng, Vice Chairman of HCM City People's Committee, appreciated the efforts made by the department and businesses last year, saying they had made significant contributions to the city's economic growth.

He urged the department to quickly get key projects underway, including one for transforming the city into a major national and regional services hub with a focus on high-end, modern services with high added-value, and other on developing an international exhibition and convention centre.

He said it has to continue with programmes that link banks with businesses, foster regional linkages in trade promotion and help businesses expand and effectively tapping domestic and export markets.

Its efforts should focus on developing key and promising industrial products that enable deeper integration into global supply chains, he said.

For their part, businesses need to diversify markets both online and offline, strengthen internal linkages, cut costs, improve their workforce quality, and adopt green and digital technologies, he said.

At the conference, the department awarded certificates recognising 74 items made by 42 enterprises as "Outstanding Industrial and Supporting Industry Products of HCM City" for 2024. — VNS