HCM City targets 2016 GRDP growth of 8pct

02-Sep-2016 Intellasia | The Saigon Times | 6:00 AM Print This Post

The government of HCM City is looking to a gross regional domestic product (GRDP) growth rate of over 8 percent for this year despite lower-than-expected growth in the first half, city chair Nguyen Thanh Phong said.

The city will have to work harder to realise the target for all of 2016 as the city’s GRDP only grew by 7.47 percent in the first six months, Phong said at a review meeting on socioeconomic issues in the first eight months of the year on Monday.

Phong requested departments and agencies to work harder to help realise the city’s already-set targets and support enterprises in order to fuel economic growth in the remaining months of the year.

Phong noted the city government’s target of having 500,000 firms by 2020 could be obtained if proper policies and mechanisms are in place as there are 290,000 household businesses in the city and most of them are eligible for conversion to enterprises, not to mention many cooperatives in the agricultural sector.

Phong said the city will focus on not only increasing the number of enterprises but also developing a number of major enterprises capable of competing on global markets.

Earlier, the city set an annual GRDP growth goal of 8-8.5 percent in the 2016-2020 period. The city targeted economic restructuring towards services, industry and construction, agriculture and fisheries, with services accounting for 56-58 percent, total development investment making up about 30 percent of GRDP, and GRDP per capita rising to $9,800 by 2020.

The city aims to develop a smart city in the 2025-2030 period with three major criteria for development of e-government, smart planning and economic growth.

At the meeting on Monday, HCM City leaders discussed pressing socio-economic issues including severe flooding.

The HCM City Transport Department reported that more than two hours of heavy rain last Friday flooded many inner-city roads due to the limited capacity of the drainage system in the city. In addition, only 43 percent of 6,000 kilometers of sewer planned until 2020 has been completed.

Nguyen Ngoc Cong, deputy director of the HCM City Steering centre for Urban Flood Control, said the downpour submerged 27 streets and many areas. Tan Son Nhat International Airport in Tan Binh District and Phan Xich Long Street in Phu Nhuan District are among the most flood-prone areas in the city.

Cong attributed severe flooding in the Phan Xich Long street area to the fact that sewers leading to the Nhieu Loc-Thi Nghe Canal have been clogged by garbage.

Cong said 250 illegal canal land reclamation cases and public works that affect the drainage system have been detected.

He said authorities of Tan Binh District will complete construction of a drainage system near the busiest international airport in Vietnam on September 20. A new sewer system connecting the airport and Nguyen Kiem Street in Phu Nhuan and Go Vap districts is also 85 percent complete.

However, the upgrade project at Hy Vong Canal in Tan Binh to help improve drainage for the airport area has been delayed due to the slow relocation of 97 affected households. The drainage systems in the section of Nguyen Van Qua Street in District 12 and Me Coc Wharf in District 8 remain half-done.

The city chair said anti-flooding projects have been implemented slowly. Although a lot of programmes in this field have been outlined, flooding will persist and leave huge impact on the lives of local citizens if anti-flooding plans are not executed consistently.

Phong stressed that the city chair and vice chairs will inspect flood-prone sites between now and mid-September to assess the situation and help find solutions to solve the chronic problem.

http://english.thesaigontimes.vn/49450/HCM City-targets-2016-GRDP-growth-of-8.html


Category: Economy, Vietnam

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