Number of HCM City businesses resuming operations in Jan-April soars 95pct

14-May-2021 Intellasia | The Saigon Times | 5:02 AM Print This Post

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

The HCM City 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 totalling nearly VND210.3 trillion (US$9 billion) in the city from January to April, increasing 3.5 percent in the number of businesses and 41.18 percent in registered capital year-on-year. On the other hand, 7,874 businesses temporarily suspended their operations, rising 27.56 percent 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 percent year-on-year to over VND366.2 trillion. Revenues from accommodating and catering services surged 26.3 percent year-on-year.

The city’s industrial production index rose 9.7%. The Saigon Hi-tech Park exported $6.47 billion of hi-tech products from January to April, surging 27.1 percent 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 percent and 17.5 percent year-on-year, respectively.

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

HCM City Chair 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.


Category: Business, Vietnam

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