Thousands of firms resume operation after Covid-19
Le Thanh Liem, vice chairman of HCM City People’s Committee, announced the economic development in the past 10 months of the year during the cabinet meeting held on October 30.
Le Thanh Liem, vice chairman of HCM City People’s Committee speaks at the meeting.
The revenue of the retail sector and the export turnover increased by 9.9% and 5.5% respectively compared to the same period last year. Production value of high-tech products reached USD16.2bn, an increase of 19.8%. Nearly VND291trn (USD12.5bn) was contributed to the city’s budget, a decrease of 12.83% compared to the same period last year.
An additional 33,499 firms have been set up in the past 10 months. Even though the total number decreased by 7.6% the total registered capital increased by 41.6% compared to the same period last year. Moreover, 7,100 firms resumed operation.
In the last two months of 2020, HCM City authorities will carry out preventive measures against Covid-19 while boosting the economy. One of the goals is to speed up disbursement of public investment and stimulate domestic consumption. The city will also focus on the tourism sector.
According to Le Thanh Liem, since HCM City is Vietnam’s economic hub, they will do their best to contribute to the country’s development.
“In the last two months, we’ll carry out preventive measures against Covid-19, boost the economy and support the flood victims in the central region. We’ll do our best to meet the socio-economic development goals for 2020 and create a momentum for better development during 2021-2025 period,” he said.