HCM City lawmakers review economy

Update: December, 10/2014 - 09:50
The business hub of HCM City plans a target of 9.5-10 percent of GDP for 2015.— Photo

HCM CITY (VNS) — With its economy on course to expand at around 9.5 per cent this year, HCM City plans to set itself a target of 9.5-10 percent for next year.

Reviewing the current year's socio-economic situation at a four-day People's Council meeting that opened yesterday, Hua Ngoc Thuan, deputy chairman of the People's Committee, told the lawmakers in attendance that the city had achieved the growth target set last year.

It had also achieved 21 out of 28 other socio-economic targets.

Exports topped US$32 billion, a 9 percent increase over last year, while imports remained virtually unchanged at $26 billion.

In the first 10 months investment licences were issued to 332 foreign projects with total registered capital of $2.7 billion.

Thuan raised the issue of finding investors to build a mixed-use building on the "golden" land plot enclosed by Le Loi, Nguyen Hue, Nguyen Thiep, and Dong Khoi, and sought opinions on how to identify one.

Part of the city's zoning plans, the 5,160sq.m piece of land is expected to be developed at a cost of $70 million.

After getting approval from city lawmakers, the city administration will formally announce details of the project and tender.

Before the meeting wraps up on Friday, a confidence vote will be held and the result made public. — VNS