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Chairman of the Ho Chi Minh City People’s Committee Phan Van Mai (Photo: tuoitrenews.vn)

At a meeting on June 1, Tran Phuoc Tuong said the industrial, agricultural and service sectors all posted good growth, contributing to the GRDP's growth.

He reported that from the beginning of this year to May 20, the city has licensed 18,630 enterprises with registered capital of 178.78 trillion VND, up 7.9% in the number of licenses but down 21.2% in capital volume year-on-year.

On the other hand, disbursement of public investment capital has accelerated; inflation has begun to cool down while the business environment has gradually improved.

However, the city’s export situation is still facing difficulties when key markets have not recovered, he said, adding that retail turnover of goods increased by 10.6% year-on-year.

Meanwhile, state budget revenue in the first five months of this year decreased by 4.5% year-on-year and reached 43% of the estimate.

In order for the economy to gain better growth in the remaining months of the year, he suggested that the city should create favorable conditions for businesses to access economic stimulus programs, seek more potential export markets while continuing with administrative procedure reform and accelerating public investment capital disbursement, among others.

Source: VNA