HCM City to focus on developing industrial, trade sectors

HCM City's retail sales sustained double digit growth last year. The city targets 5 percent growth in industrial production , and 10 per cent growth in retail sales of goods and services this year. (Photo: VNA) HCM City (VNS/VNA) – The Ho Chi Minh City People's Committee set targets and approved operational orientations and solutions for this year for its industrial and trade sectors at a recent meeting. They include 5 percent growth in industrial production, with its four key industries (food processing, pharmaceutical chemicals-rubber-plastic, mechanical engineering, and electronics) growing by at least 6.7 percent. The targets for growth in retail sales of goods and services and exports are 10 percent, Bui Ta Hoang Vu, director of the city Department of Industry and Trade, said. Non-financial targets include improvements in administrative procedures for businesses and the public, he said. His department would adopt comprehensive solutions to achieve the targets, help revive the city's economic growth and create a major transformation in its economic structure so that the services sector accounts for over 60 percent of the economy. It would envisage and carry out solutions that enable the city to maintain its leading role in the country in terms of the economy… Read full this story

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