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HCMC’s GRDP forecast to expand 5.8% this year

The Saigon Times

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HCMC – The gross regional domestic product (GRDP) of HCMC is expected to grow by 5.8% in 2023, below the target range of 7.5-8%, heard a conference of the Standing Board of the HCMC Party Committee held today, December 2.

Nguyen Van Nen, secretary of the HCMC Party Committee, said the city’s GRDP growth had gradually recovered despite challenging economic conditions at home and abroad.

In the third quarter of 2023, HCMC’s GRDP expanded by 6.71%, a notable increase compared to the first and second quarters, which saw growth of 0.7% and 5.87%, respectively.

HCMC has been actively taking various measures to fuel socioeconomic growth, attracting investments from both domestic and foreign sources. The city has organized a total of 177 trade and investment promotion programs to create a favorable business environment.

However, Nen pointed out persistent challenges in infrastructure development and the lower-than-expected disbursement of public investment capital.

Recent reports indicate that programs aimed at addressing issues such as traffic congestion, flooding, environmental pollution, and an undersupply of social housing in HCMC have yet to achieve their desired outcomes.

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