Nguyễn Văn Nên, secretary of the HCM City Party Committee, speaks at a meeting held to review the city’s socio-economic development in February. — Photo courtesy of the HCM City Press Centre

HCM CITY — HCM City has been leading the country in economic recovery this year, Nguyễn Văn Nên, secretary of its Party Committee, said.

Speaking at a recent conference on socio-economic development in February, he said: “Almost all companies in the city have resumed operations, and are very optimistic about the future.” 

Though the incidence of COVID-19 has been on the rise, the numbers of severe cases and deaths remain low, he said.

The city would continue to focus on fighting the pandemic, including vaccinating children aged five to 11 years, and plans to resume international tourism on March 15, he said.

It has set an ambitious economic growth target of 6-6.5 per cent for this year, plans to create 140,000 jobs and keep the unemployment at below 4 per cent.

It will speed up digital transformation and adoption of information technology at all levels of government, improve the investment climate and enforce pandemic control measures as part of its economic recovery plan.

Due to the impacts of the pandemic, its economy saw negative growth for the first time ever last year.

But its revenues of VNĐ370 trillion (US$15.9 billion) still marginally exceeded the year's target.

The city attracted more than $5.8 billion worth of FDI last year.

The city has unveiled a socio-economic programme for the period until 2025 that envisages achieving recovery by the end of this year and development in the next three.

Until the end of 2022, the city will continue to focus on pandemic prevention while also reviving the economy and supply chains, creating employment and safeguarding workers’ welfare.

Phạm Thị Hồng Hà, director of the Department of Finance, said the city’s budget revenues in the first two months are estimated at VNĐ88 trillion, 22.78 per cent of the full-year target and 14.85 per cent up year-on-year.

Exports were worth $7.38 billion in the first two months, up 5.9 per cent, while imports rose by 10 per cent to $9.95 billion. 

Industrial production rose by 2.1 per cent in the period. — VNS