Industrial output index in Ho Chi Minh City increased 6.6% in August

In the January-August period, the city's IIP increased by 2.8% year on year.

In the first eight months of this year, the city had favorable growth in many socioeconomic dimensions, including a 7.6% increase in total retail sales of consumer goods and services and a 3.8% increase in cargo throughput via seaports. Municipal Director Le Thi Huynh Mai

At an August 30 presentation analyzing the city's socioeconomic status in the first eight months of 2023, the Department of Industry and Trade announced

In August alone, the city welcomed 25,523 new businesses, an increase of 11.3% over the previous year's equivalent month, while export turnover increased by 7.3%.

Mai stated that the city continued to promote growth model transformation towards a green and circular economy, as well as a digital economy, in piloting specific mechanisms and policies for the development of Ho Chi Minh City under National Assembly (NA) Resolution No. 98/2023/QH15.

She added that the successful organization of the first Ho Chi Minh City River Festival contributes to promoting the city as an urban area of rivers and rich culture.

Mai mentioned the difficulties that the city is experiencing. The city's export turnover declined 15.3% in the first eight months of this year compared to the same time previous year.

The number of newly founded firms grew, but total registered capital decreased by 12.4%, while 22,387 businesses temporarily suspended operations climbed by 28%. Notably, the city's public investment capital disbursement reached VND 19.1 billion, corresponding to 28% of the allocated goal, she noted.

To address the aforementioned issues, agencies must focus on accelerating the disbursement of public investment capital, implementing policies to assist exporters with inventory costs, and increasing consumer demand by extending the promotion month to three instead of one month, according to Mai.

In his address to the meeting, the Chairman of the Municipal People's Committee, Phan Van Mai, asked departments and agencies to continue implementing the NA's Resolution on piloting certain particular procedures and policies for Ho Chi Minh City's growth.

He said that the city must speed the execution of critical traffic projects and eliminate bottlenecks in order to finish urban railway line No. 1 on time.

Source: Nhân Dân