Sunday,  Jun 24, 2018,17:51 (GMT+7) 0 0
Resolution intended to fuel growth in HCMC
Tu Hoang
Monday,  Nov 13, 2017,18:43 (GMT+7)

Resolution intended to fuel growth in HCMC

Tu Hoang

HANOI – Regulations provided in a draft resolution on pilot mechanisms and special policy intended to prop up growth in HCMC were delivered last week to the National Assembly (NA) by Finance Minister Dinh Tien Dung.

These regulations would facilitate the municipal government to allocate more resources in order to improve its infrastructure and investment environment, and deal with social and environmental issues.

They would help fuel the more rapid and sustainable growth of the city as a driving force of the southern economic region, contributing more to the national socio-economic growth and the State budget.

HCMC, the largest city in the country, is home to an estimated 8.4 million residents this year, accounting for 9.1% of the nation’s population.

In terms of economic scale, the city made up 21.6% of the country’s gross domestic product (GDP), and contributed 27.8% to the country’s total budget revenue in 2016. The city has posted an annual economic growth rate of 10.45%, higher than that of the country at 6.5%.

However, its infrastructure does not keep up with its current situation, thus hampering the city’s fast and sustainable growth.

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