Vietnam adjusts its biggest city’s 1Q growth to 1.03% vs 0.42%

The city, the growth driver of the country’s economy had reported its first-quarter growth at 0.42%, the lowest rate since the country adopted Doi Moi strategy to reform the economy in 1968.

Latest information from General Statistics Office informed that the country’s largest economic center recorded first quarter economic growth of 1.03% from 7.64% from a year ago.

With the updated data from Ho Chi Minh City, the country's first quarter growth could be higher than 3.82% reported earlier, PM Phuc said, emphasizing that the city play a key role for the country’s economic growth.

The government chief had tasked the city to achieve 6.7 percent growth in 2020 despite severe impacts from coronavirus crisis. GDP growth of the whole country should be at about 5%, much higher than IMF forecast of 2.7%.

The metropolis contributes up to 22% of the country GDP, 25% of the State budget. With the large contribution, the city is under high pressure in backing the nationwide growth.

PM Phuc decided Thursday to allow non-essential service establishments, except for clubs and karaoke parlors, but they have to maintain preventive measures.

The decision was made the a meeting on COVID-19 prevention and control on the same day after three weeks without new community transmission case of the virus.

He also decided mask wearing and social distancing are not mandatory for students in classrooms but students are advised to maintain personal hygiene and regularly wash hands with antibacterial soap or sanitizer.

► Vietnam wants its biggest city to achieve 6.7 percent growth in 2020