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Coronavirus costs Ho Chi Minh City’s 31% daily tax revenues in the first quarter

VNA Monday | 04/13/2020 13:14

An employee uses a fishing rod to deliver a cup of drinks to a customer at a coffee shop in District 1, Ho Chi Minh City. Social distancing to prevent coronavirus have slowed business. Photo: Tuoi Tre

Ho Chi Minh City's daily tax revenues fell 31 percent in the first quarter on coronavirus pandemic, Vietnam News Agency cited Chairman of the municipal People’s Committee Nguyen Thanh Phong.

The city leader told an online meeting last week that the revenues had fallen to VND947 billion ($40 million) against a target of VND1.64 trillion ($69.4 million).

The outbreak greatly affected the country’s socio-economy, especially the city’s and its services and industrial sectors, he said

Its economy grew by just 0.42 percent in the period, down from around 7 percent a year ago.

The worst affected of the city’s sectors are services and tourism. The number of foreign visitors fell by 42.2 percent year-on-year.

The number of new enterprises decreased by 15.7 percent. The flow of foreign direct investment was down a third to $1.05 billion.

But Phong promised that after the pandemic subsides, there would be no outbreaks or community spread and the city would come up with solutions to foster priority sectors including tourism and services to ensure growth resumes.

It would also promote the use of information technology, reform the administration, stimulate tourism demand, control the consumer market and ensure people’s essential needs are met, help businesses access support packages, and accelerate the rate of public investment, he added.

► Ho Chi Minh City wants its biggest employer to close over COVID-19 risks

► Vietnam reports a virus-infected worker at Samsung’s Bac Ninh plant, tally hits 262

Source: VietnamPlus

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