HCM City (VNA) – HCM City reported a 7.46 percentyear-on-year increase in GRDP in the first quarter compared to 7.08percent in the same period last year, it was reported at the March 31 meetingof the municipal authorities on socio-economic development in Q1. Its GRDP was worth nearly 235 trillion VND (10 billion USD)in the January-March period. The services sector expanded by 7.95 percent and industryand construction by 6.67 percent (the respective rates for the same period lastyear were 7.8 percent and 6.25 percent). Retail sales topped 227.5 trillion VND (9.8 billion USD),an increase of 12 percent. Budget revenues were worth 86.6 trillion VND (3.8 billionUSD), or nearly 25 percent of the full-year target and an increase of 18.56 percent. The city’s designated four key industries - engineering andautomation; electronics; chemicals – rubber – plastics; and food processing -continued to perform strongly with an average growth rate of 8.97 percent,higher than the overall industrial output expansion rate of 6.02 percent. “The electronics industry grew at 14.2 percent and this isthe highest [quarterly] increase in the last few years,” Pham Thanh Kien,director of the city Department of Industry and Trade, told the meeting. According to the city People’s Committee, enterprisesupport programmes have achieved good results, with the business and investmentenvironment improving. This has strengthened confidence among investors andentrepreneurs in the city’s economic potential. This is demonstrated by the investment the city managed toattract -- nearly 575 million USD, an increase of 56.7 percent year-on-year. Around 8,000 new companies with a combined registeredcapital of 99.5 trillion VND (4.4 billion USD) received licences during thequarter, increases of 14 percent and 61.7 percent. Some 1.58 million foreign visitors arrived in the city, anincrease of 15 percent, and the tourism sector reported a turnover of 27.8trillion VND (1.23 billion USD), a 15.6 percent rise. “Though we have achieved positive results in the firstquarter of this year, to accomplish the yearly plans, we must work harder,”Nguyen Thanh Phong, the chairman of the city People’s Committee, said. While first quarter growth was 7.46 percent, the citytargets a yearly growth of 8.4 – 8.7 percent, he pointed out, adding that industriesand local administrations need to take strong measures to achieve the targets. The city has already cut or suggested cuts toadministrative procedures, especially with respect to insurance, land,taxation, customs, and labour, to help businesses cut costs, he said.- VNA
Ho Chi Minh City’s leaders and newly-elected lawmakers began a three-day session of the People’s Council on August 3 to discuss socio-economic targets.
Chairwoman of the HCM City People’s Council Nguyen Thi Quyet Tam urged the municipal People’s Committee act immediately to implement resolutions passed by the council and improve growth quality.
HCM City will focus financial resources into key projects under its 7 breakthrough programmes in 2017 in order to improve the appearance of the city and the living conditions of local residents.
With participation from major players representing countries such as Russia, China, Japan, India, Thailand, and Indonesia, Vietbuild 2025 is expected to present a wide range of environmentally friendly and innovative products and services, especially building materials, machinery, and interior and exterior decoration.
Bulgaria holds strengths in sectors that align well with Vietnam’s development focus, including information technology, software, electronics, energy and the environment, startups and innovation, agriculture and food processing, logistics, and freight services.
Vietnam Airlines is pursuing an Environmental, Social, and Governance (ESG) roadmap to reduce emissions, improve fuel efficiency, and adopt sustainable aviation fuels. It is also investing in workforce development, corporate culture, and international management practices.
Thailand's largest retailer, Central Retail Corporation (CRC), will invest over 45 billion THB (1.38 billion USD) through 2027 to expand mainstream markets and accelerate growth across Southeast Asia, including Thailand and Vietnam.
Vietnam ranks among Asia’s top producers and exporters of denim, with hundreds of factories producing denim fabric and garments. Vietnamese denim products are now exported to over 70 countries.
In 2024, durian was a leading export among Vietnam’s fruits and vegetables, earning a record of 3.3 billion USD and accounting for 46% of the sector’s total export value. China was the largest market, importing 3.2 billion USD worth of durians, or 97% of the total.
The arrival of this first wind power equipment shipment signalled the Trung Nam Ca Na seaport’s infrastructure readiness and its entry into a new phase of development, aligned with Vietnam’s adjusted National Power Development Plan VIII.
PM Pham Minh Chinh has called on global tech giants to bolster cooperation with Vietnam to assist with the country's efforts to drive a startup and innovation ecosystem.
Prime Minister Pham Minh Chinh had meetings with leaders from multinational corporations on June 25, advancing Vietnam’s infrastructure development as well as food processing sector, on the sideslines of the 16th Annual Meeting of the New Champions of the World Economic Forum (WEF) in Tianjin city.
According to UOB, following the US’s announcement of reciprocal tariffs of 46% on Vietnamese goods on April 2, around 80% of Vietnamese businesses have proactively taken measures to respond to potential impacts.
As one of the most prestigious annual international events in the industry, the expo serves as a prime platform for enterprises to connect, exchange valuable experience, and explore reliable collaboration opportunities with both domestic and international companies.
Organised by the Vietnamese Embassy and Trade Office, Vietnam's national booth showcases catalogues and product samples from over 30 Vietnamese companies, spanning key sectors such as agriculture, seafood, food and beverages, footwear, textiles, furniture, plastics, construction materials, and industrial machinery.
The pangasius industry is one of the country’s key foreign currency earners, with an annual export value of around 2 billion USD, accounting for 20% of Vietnam’s total seafood exports. The US remains one of the largest and most strategic markets for Vietnamese pangasius.
A Government Office notice on the Deputy PM’s conclusions at a recent meeting to review construction progress of the plants stressed that accelerating the development of power sources is essential and urgent to ensure energy security and meet the demands of two-digit socio-economic growth in the coming period.
It featured four discussions on key issues such as the Vietnam- Switzerland comprehensive partnership, Vietnam’s international financial centre, digital transformation and innovation, and global human resources and expansion of markets.
A corner of Ho Chi Minh City (Photo: VNA)
