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PM urges Ho Chi Minh City to bounce back for further growth

May 09, 2020 | 13:32

Prime Minister Nguyen Xuan Phuc on Friday stressed the importance of Ho Chi Minh city to Vietnam, saying that the city contributes from 20 to 22% of the national GDP, 25% of the national budget, 33% of services, and 18.4% of industry-construction, reported by VOV. 

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pm urges ho chi minh city to bounce back for further growth
Prime Minister Nguyen Xuan Phuc (Photo: VOV)

At an online meeting with the municipal leaders, Prime Minister Phuc said: “Ho Chi Minh city reported that its growth rate in the first quarter was only 0.42% higher than in the same period last year. But according to the latest data of the General Statistics Office, the city grew 1.03%. So Vietnam’s economy in the first quarter might grow higher than the 3.82% rate reported earlier. This is good news for the national economy as the world is facing challenges.”

The Prime Minister urged the city to bounce back in the remaining 3 quarters to deserve its potential and advantages. He called on the municipal business community to join hands to overcome difficulties. Mr. Phuc said every citizen and company must be a soldier to undergo trial of their will power and wisdom in Vietnam’s most dynamic and most innovative center.

Prime Minister said Ho Chi Minh City should not develop as a letter U or the letter W but must be the letter V. "Specifically, in 2020, you are determined to achieve over 6% of growth." This is not only a commitment, but also a responsibility to the country.

pm urges ho chi minh city to bounce back for further growth
(Photo: VGP News)

Opinions at the meeting agreed that, as a special city, Ho Chi Minh City must maintain its role as a national growth engine. After the "social gap" measures are relaxed, the city's economy will recover strongly. The city needs to investigate the production and business to have growth scenarios; addressing the shortcomings of a number of projects early.

The Prime Minister assessed Ho Chi Minh City's successful prevention and control of COVID-19. In the first quarter of 2020, the city's economy grew by 1.03%, not 0.42% previously. For a city where the service sector accounts for 60%, this is an attempt in the context of "social gap", according to VGP News.

Prime Minister Nguyen Xuan Phuc appreciated the high determination of Ho Chi Minh City. The Prime Minister suggested in the remaining months of the year, the city needs to develop its potential and advantages, becoming re-position as the economic growth engine of the whole country.

For growth target of over 6% this year, the Prime Minister said that it is also a responsibility of the city to the country. To achieve that goal, according to the Prime Minister, the most important solution is that every person must dare to think, dare to take responsibility and dare to eliminate the "stagnant virus" existing in some departments, boards and branches, according to Online Law.

pm urges ho chi minh city to bounce back for further growth
(Photo: HCMC Architecture Planning Department)

The Prime Minister wants the business community in Ho Chi Minh City to work together, unanimously, proactively, and creatively. “Every city citizen, every business is a soldier. Let this be an opportunity to challenge the bravery and intelligence of Vietnamese businesses in a dynamic center, the largest market economy center in the country ”- the Prime Minister said.

The Prime Minister asked the city leaders to analyze carefully and have immediate solutions. The city aims at the disbursement rate of 80%, and 100% at the end of the year.

On this occasion, the Prime Minister noted a number of shortcomings. First of all, the provincial competitiveness index (PCI) continued to go down over the years, in 2019 the city left the top 10, ranked 14/63, down 4 places compared to 2018; in 2018 decreased by 2 places compared to 2017. "We must check why", Prime Minister said. In addition, there exist problems of traffic congestion, pollution, waste, security, equitization of enterprises...

The Prime Minister emphasized the spirit that Ho Chi Minh City becomes a typical modern city of the region and the world, a smart city and a green city worth living.

The Prime Minister affirms that Ho Chi Minh City should soon to develop into a regional financial center, and a center of science and technology. At the meeting, the Prime Minister also expressed his support for Ho Chi Minh City's proposal for the Eastern Creative Urban Area.

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