Ho Chi Minh City’s economy regains steady growth momentum

by NDO/VNA09 March 2022 Last updated at 17:00 PM

VTV.vn - The People’s Committee of Ho Chi Minh City held a meeting on March 4, to discuss the socio-economic, cultural, defence and security situation, including budget revenue and expenditure, for the first two months of the year.

The meeting was attended by Politburo member and Secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen.

According to the Municipal People’s Committee, thanks to the synchronous implementation of measures on economic management and effective epidemic prevention and control, Ho Chi Minh City has achieved remarkable results in all fields.

Accordingly, in the field of tourism-services, the total retail sales of consumer goods and services in February, was estimated at over 89.09 trillion VND (over 3.89 billion USD), 0.4 percent higher than the previous month and 0.9 percent higher over the same period last year. Over the first two months of the year, the total retail sales of goods and services was estimated at over 177.8 trillion VND (over 7.78 billion USD).

Ho Chi Minh City has continued to implement the set of safety assessment criteria, in the prevention and control of the COVID-19 epidemic for tourism activities. The city is also one of seven localities to pilot the welcoming of international tourists, bringing hope to the city's tourism recovery, as Vietnam will fully open tourism activities by air, land and sea from March 15.


A corner of Ho Chi Minh City (Photo: VNA)

A corner of Ho Chi Minh City (Photo: VNA)

Regarding the banking sector, the total capital mobilisation of credit institutions in the area, was estimated at over 3.16 quadrillion VND, up 0.5% over the previous month and 0.81% higher than the end of 2021. In addition, the total credit balance of credit institutions in the area, was estimated at over 2.93 quadrillion VND, up 1.0% compared to the end of last month and up 3.54% compared to the end of 2021.

The index of industrial production (IIP) in February, was estimated to decrease by 2.4% compared to the previous month. However, in the first two months of the year, the index increased by 2.1% over the same period. Four key industry groups were estimated to have increased by 9% over the same period.

In the coming time, the City will continue to thoroughly grasp and strictly implement Resolution No.11/NQ-CP, dated January 30, 2022, on the socio-economic recovery and development programme and implement Resolution No.43/2022/QH15 of the National Assembly, on fiscal and monetary policies.

Ho Chi Minh City will also focus and promote effective, flexible and safe measures, to prevent and control the COVID-19 epidemic in the new situation, especially the campaign to protect vulnerable groups.

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