New indicators to define growth

The HCM City government will define the economic and social growth of the city from next year based on 15 statutory indicators that reflect the quality and standard of living of its citizens. Identifying the 15 indicators will be a new step for evaluating the quality of life in the city, according to a recent meeting of the city government.

The new approach considers the quality of the economy and the improvement of the people’s livelihood as the more decisive factors than the merely figure-based growth. “The new approach will make it easier for the city to set suitable strategies in social and economic growth,” said HCM City Chairman Le Thanh Hai.

Hai told the meeting that the indicators proposed by the HCM City Economics Institute and the Statistics Bureau will be taken into consideration for analysing growth. The two institutions proposed the new indicators after conducting surveys on economic and social situations in the city.

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Following are the 16 proposed indicators
1	Gross domestic product (GDP) growth
2	Value growth of the service sector, the manufacturing-construction sector, and agriculture
3	Export earnings growth of manufactured products
4	Investment for development as a percentage of GDP
5	GDP per worker
6	Tax revenue
7	Spending from the state budget
8	Population growth rate
9	New jobs created for citizens in the year
10	Unemployment rate
11	The proportion of households supplied with tap water
12	The proportion of citizens using public transport service
13	The proportion of poor households (with monthly income of less than US$10)
14	The proportion of school-age children attending school
15	The number of graduates from tertiary and vocational training schools
16
(One of the indicators will be left out or mixed with another)

 

Category: Legal