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Number of HCMC businesses resuming operations in Jan-Apr soars 95%

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HCMC – Some 5,590 businesses in HCMC resumed their operations in the first four months of this year, a 95.18% increase compared with the same period last year, signaling a recovery of the city’s economy despite the complicated developments of Covid-19.

The HCMC Department of Planning and Investment said at a meeting on May 11 that most economic indices of the city in the first four months of 2021 were better than the same period last year.

There were more than 11,600 newly established businesses with registered capital totaling nearly VND210.3 trillion (US$9 billion) in the city from January to April, increasing 3.5% in the number of businesses and 41.18% in registered capital year-on-year.

On the other hand, 7,874 businesses temporarily suspended their operations, rising 27.56% year-on-year and 1,710 others completed procedures for disbandment, increasing 4.2%.

The total retail sales of goods and services in the first four months rose 7.9% year-on-year to over VND366.2 trillion. Revenues from accommodating and catering services surged 26.3% year-on-year.

The city’s industrial production index rose 9.7%. The Saigon Hi-tech Park exported US$6.47 billion of hi-tech products from January to April, surging 27.1% compared with the same period last year.

The revenues of four key sectors comprising electronics; pharmaceutical products, rubber and plastics; food and beverages; and mechanical engineering rose 27.7%, 2.4%, 7.4% and 17.5% year-on-year, respectively.

The city attracted US$1.14 billion of foreign direct investment in the first four months, falling 12.92% year-on-year.

HCMC Chairman Nguyen Thanh Phong spoke highly of the city’s economic achievements in the first four months of 2021 in the context of the complicatedly developing pandemic. He asked departments and agencies to tighten control over Covid-19 infection prevention and maintain the growth momentum.

By Le Anh

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