The top five cities’ industry and commerce activities were standing firm against the global economic crisis and a slowdown in the domestic economy, according to a study of commerce over the last two years.
The study was released at a conference on industry and commerce held in Can Tho on November 18, and reviewed the results of businesses in the top five cities over the last tow years, in order to help boost co-operation among cities. The top five cities are Hanoi, HCM, Hai Phong, Da Nang and the host Can Tho.
Over the last two years, since Vietnam joined the WTO, these five biggest cities have made great efforts to co-operate with one another.
The five cities’ industries are expected to fulfill expectations, producing a total value of more than VND316.340 trillion, accounting for 47.6 percent of the nation’s industrial output value. Hai Phong saw the highest growth of 18.5 percent, more than 1 percent higher than Can Tho. Hanoi and Da Nang grew by 14 percent, while HCM increased by 13.5 percent.
Despite the economic slowdown, which has affected the country’s economy, the five cities have managed to achieve a steady growth of industrial production.
Thanks to the Government’s proper and timely adjustments to limit rapid inflation and stabilize the macro-economy, the cities’ have also tried to keep the momentum of their commercial operations going.
The total export turnover of the five cities reached US$34.85 billion, accounting for 53.62 percent of the country’s total, while the import turnover figure was almost US$44 billion, or 52 percent. The total retail and services revenue was estimated at more than VND438.3 trillion, which accounted for over 45 percent of the nation’s total.
HCM City, in particular, has maintained its leadership in industrial production and commercial activities. The commercial hub is well connected with other commercial cities, in the southern and other parts of the country.
The capital city of Hanoi also maintained its industrial production speed with revenue estimated at VND84.05 billion, an increase of 14.8 percent compared to last year.
Participants in the conference proposed that the Ministry of Industry and Commerce co-ordinate with local departments to make plans for developing the industrial and commercial sectors in the region, based on the country’s industrial and commercial development strategy, in order to avoid overlapping in investment planning and creating effective co-ordination amongst cities.
The participants also suggested that the ministry prioritise investing in infrastructure like roads, seaports, and airports to give the key cities advantages to maintain their leadership in industrialisation and modernisation, so as to be an inspiration for the development of other cities and provinces.
Conditions should also be worked out for those five pivotal cities to build co-operation plans to develop industrial production and commercial activities, helping each other to fully tap their potential.
Source: VOVNews/VNS