An aerial view of HCM City (Photo: VNA)HCM City (VNS/VNA) - TheHoChi Minh CityDepartment of Industry and Trade is targeting 7.6 percent growth in industrialproduction and 12 percent growth in retail sales of goods and services in 2020.
At a recent recent meeting to reviewindustrial and commercial development in the city in 2019 and tasks for 2020, thedepartment's deputy director Nguyen Phuong Dong said many programmes would beundertaken to ensure the city’s four key sectors, food processing, chemical-rubber-plastics,mechanics, and electronics, would grow by at least 7.5 percent.
The city is lookingto raise growth of exports (excluding crude oil) to 9.5 percent.
To achieve thetarget, the department would work more closely with business groups andrelevant agencies to make cooperation plans for 2020 and advise authorities onhow to support key industrial products that drive growth, Dong said.
It would focus onspace for business and production activities, access to funds, science andtechnology, workforce training, trade promotion, and brand building, he said.
For the developmentof wholesale and retail markets, it would push on with the supply-demandconnection programmes between the city and other localities, and conditionswould be improved for local enterprises to expand their production anddistribution activities, he said.
The programme toensure stable prices and supply-demand balance will also continue, whilebusinesses would be encouraged to improve product quality, he added.
The city's totalrevenue of retail trade and services exceeded 1.17 quadrillion VND (50.73 billion USD) in 2019, up 12 percentyear-on-year. Of which, total retail sales of good were estimated tohit 763 trillion VND, ayearly hike of 13.3 percent or 65 percent of the total revenue.
Director of thedepartment Phạm Thành Kien attributed the growth in the city's retailsale of goods to a stable macroeconomic environment, improved tradeinfrastructure, optimism of consumers and increasing livingstandards.
The city isnow home to 238 traditional markets, 206 supermarkets, 49 shoppingcentres and 2,656 convenience stores.
The major economichub also saw positive trade turnover in 2019 as it earnedan estimated 41.9 billion USD from exports, up 10 percent over the previous year, whileimports were estimated at 50.2 billion USD, a year-on-year rise of 7 percent.
Thecity's modest import growth was attributable to increasing efforts oflocal businesses to use domestic raw materials to enhance the value of theirproducts, according to the municipal People's Committee.
During theyear, local authorities have also supported firms inparticipating in goods distribution channels in Australia and Thailand, itsaid. /.
At a recent recent meeting to reviewindustrial and commercial development in the city in 2019 and tasks for 2020, thedepartment's deputy director Nguyen Phuong Dong said many programmes would beundertaken to ensure the city’s four key sectors, food processing, chemical-rubber-plastics,mechanics, and electronics, would grow by at least 7.5 percent.
The city is lookingto raise growth of exports (excluding crude oil) to 9.5 percent.
To achieve thetarget, the department would work more closely with business groups andrelevant agencies to make cooperation plans for 2020 and advise authorities onhow to support key industrial products that drive growth, Dong said.
It would focus onspace for business and production activities, access to funds, science andtechnology, workforce training, trade promotion, and brand building, he said.
For the developmentof wholesale and retail markets, it would push on with the supply-demandconnection programmes between the city and other localities, and conditionswould be improved for local enterprises to expand their production anddistribution activities, he said.
The programme toensure stable prices and supply-demand balance will also continue, whilebusinesses would be encouraged to improve product quality, he added.
The city's totalrevenue of retail trade and services exceeded 1.17 quadrillion VND (50.73 billion USD) in 2019, up 12 percentyear-on-year. Of which, total retail sales of good were estimated tohit 763 trillion VND, ayearly hike of 13.3 percent or 65 percent of the total revenue.
Director of thedepartment Phạm Thành Kien attributed the growth in the city's retailsale of goods to a stable macroeconomic environment, improved tradeinfrastructure, optimism of consumers and increasing livingstandards.
The city isnow home to 238 traditional markets, 206 supermarkets, 49 shoppingcentres and 2,656 convenience stores.
The major economichub also saw positive trade turnover in 2019 as it earnedan estimated 41.9 billion USD from exports, up 10 percent over the previous year, whileimports were estimated at 50.2 billion USD, a year-on-year rise of 7 percent.
Thecity's modest import growth was attributable to increasing efforts oflocal businesses to use domestic raw materials to enhance the value of theirproducts, according to the municipal People's Committee.
During theyear, local authorities have also supported firms inparticipating in goods distribution channels in Australia and Thailand, itsaid. /.
VNA
