Tuesday, July 7 2020


City powers national economy

Update: February, 12/2011 - 10:41

Nguoi Lao dong (The Labourer) newspaper spoke to chairman of HCM City People's Committee Le Hoang Quan about efforts to improve the quality of economic growth this year

What is providing the impetus to the city's economy this year?

The success of the last Party Congress provides an impetus for strong and sustainable development of the city.

The city is also making use of last year's growth rate to attract more investment, expand production, and export to many more countries.

What are the measures required to improve quality of growth in 2011?

Being a locomotive that drives the whole country's economy, HCM City is actively setting targets to improve growth quality.

A support programme will be created to achieve a breakthrough in restructuring the city's economy, including policies to assist businesses in renewing technologies and equipment, develop the stock market, upgrade infrastructure, expand e-commerce, and develop bio-technology.

The city is also reviewing the competitiveness of each sector and product to make plans to improve quality and effectiveness. It will also focus on the development of hi-tech sectors.

The city's GDP is rising every year but 40 per cent of residents do not have property, according to a report by the HCM City Institute for Development Studies. Is this growth truly sustainable?

It is not just Viet Nam's economy that faced risks during the financial crisis, resulting in unemployment, since the global crisis hit every country in the world. However, since the city's economy has made a quick recovery, we should believe there will be improvement this year.

What is the remedy for the problems of flooding, traffic congestion, huge holes in roads?

Economic, urban, cultural, and social management face many shortcomings. The city has comprehensive strategies for dealing with problems as well as for adapting to climate change and mitigating disasters. I do hope people will sympathise with us and join hands to create a well-developed city. – VNS

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