Ho Chi Minh City adjusted to lower average annual GDP growth target to 8%



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Ho Chi Minh City adjusts to reduce average annual GDP growth target to 8% - Photo 1.

Nguyen Thanh Phong – Chairman of the Ho Chi Minh City People’s Committee speaking at the congress on October 17 – Photo: TU TRUNG

The delegates who voted in the hall agreed to the adjustment of Mr. Nguyen Thanh Phong.

Specifically, Mr. Nguyen Thanh Phong informed and consulted the congress to adjust the target on the growth rate of gross domestic product in the city (GRDP) to the average annual rate of 8% (instead of 8-8). , 5% as in the report presented to the previous congress).

Also, adjust the amount of GDP per capita by the end of 2025 to reach 8,500 USD / person (instead of 8,500 – 9,000 USD / person as reported in the previous congress); reach $ 13,000 / person by 2030 (instead of $ 13,000-14,000 / person); in 2045 to reach $ 37,000 / person (instead of $ 40,000 / person)

According to the explanation of Mr. Nguyen Thanh Phong, Ho Chi Minh City is a town with great economic openness, the total export turnover accounts for a large proportion of GDP. Meanwhile, European countries, the US, and many countries around the world are entering the second and third infection waves of the COVID-19 epidemic.

The recovery of world economies continues to be slow, the fastest is for the end of 2021. From there, it can be seen that the world economic situation continues to be difficult and directly affects the city’s economy. In addition, the time of access to the vaccine against the COVID-19 epidemic has not yet been determined.

According to Mr. Phong, Ho Chi Minh City proposes to the Central to increase the city’s budget regulation rate for 2021 to 23% to ensure investment needs for development. However, the general situation in the country is still difficult, so the proposal to increase the budget regulation rate has not been considered. Therefore, the 8% GDP increase in the next period is consistent with the current situation.

Previously, the Head of the Propaganda City Party Committee, Phan Nguyen Nhu Khue City, presented a report that synthesizes the group discussions related to political reports and documents presented to the congress.

The director of the Department of Culture and Sports of Tran The Thuan City also reported the results of the voting of the goals in the next period and clearly established the goals with different recommendations from the delegates. In which, there are suggestions to review the growth objective of the GRDP to adapt it to the real situation and the implementation capacity of the city.

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