Economic engine is humming along nicely

December 25, 2007 | 17:58

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Ho Chi Minh City is lifting the bar on its socio-economic growth targets for 2008. The city’s people’s council has targeted a gross domestic product (GDP) growth rate of 12.7-13 per cent for 2008 against 12.6 per cent in 2007.

Addressing the city’s chaotic traffic problems is a key priority

Pham Phuong Thao, chairwoman of the people’s council, said she was confident the goal would be met.
Other socio-economic, environmental and urban targets include a 15 per cent increase in total exports not including crude oil, social development investment of more than $6.09 billion equal to 35 per cent of GDP, a decrease in the consume price index (CPI) to below the GDP growth rate and completion of the universalisation of secondary education in the city.

The nation’s economic hub will also look to create jobs for 270,000 workers, increase long-term vocational training by 25 per cent and reduce unemployment to 5.5 per cent.
Meanwhile, the percentage of households enjoying access to clean water will be raised to 89.5 per cent and 95 per cent of environmental polluting establishments will be dealt with.

To achieve the targets, the people’s council will increase its drive to attract investment, mobilise capital for socio-economic development and step up administrative reforms.

Ho Chi Minh City People’s Committee chairman Le Hoang Quan said an improved investment and business environment, traffic congestion and street flooding solutions, stabilising consumer prices and improved management of city affairs were crucial if the city’s targets were to be met.
“The point of view shared among the Municipal Party Committee, the City People’s Council and the City People’s Committee is that amid the economic growth targets the urban living environment should not be sacrificed,” said Quan.

By Giang Khanh

vir.com.vn

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