AsemconnectVietnam - According to the Department of Planning and Investment of Ho Chi Minh City, many economic indicators of the city grew steadily in the first 9 months of 2024. Notably, export turnover is on a recovery trend and has grown.

The director of the Department of Planning and Investment of Ho Chi Minh City Le Thi Huynh Mai said that in the first 9 months of 2024, the total product in the area (GRDP) is estimated to increase by about 6.7-6.9% over the same period last year; the index of industrial production (IIP) was estimated to increase by 6.9%; trade and service activities in the area continue to grow steadily. The total retail sales of goods and consumer revenue in September were estimated to increase by 10.5% over the same period last year.
As of September 27, 2024, the total disbursed state budget investment capital was more than VND 15,802 billion, reaching 19.9% of the 2024 capital plan. The total state budget revenue in the first 9 months of 2024 is estimated at VND 371,307 billion, reaching 76.9% of the estimate and increasing by 14.3% over the same period last year.
Ho Chi Minh City focuses on removing difficulties and obstacles, unblocking resources and speeding up compensation and site clearance progress for projects. As of September 27, the total disbursed state budget investment capital was more than VND 15,800 billion, reaching 19.9% of the annual plan.
In the first 9 months of the year, Ho Chi Minh City granted licenses to establish more than 37,800 new enterprises, with registered capital reaching nearly VND295,000 billion, down by 13.9% in capital compared to the same period last year. The number of enterprises participating in the market increased by 4.6%, but the number of enterprises withdrawing from the market increased by 6.2%. Thus, for every 100 enterprises participating in the market, 56 enterprises withdrew from the market.
Ho Chi Minh City's goods exports recorded growth
Notably, the total export turnover of Ho Chi Minh City enterprises through the country's border gates in the first 9 months of 2024 was estimated at 33.82 billion USD, up by 10.2% over the same period (down by 14.2% in the same period last year). Exports are still recovering, many textile and garment enterprises have received enough orders until the third quarter and the end of 2024. The total import turnover of Ho Chi Minh City enterprises through border gates nationwide in the first 9 months of 2024 is estimated at 44.1 billion USD, an increase of 6.4% over the same period last year.
Mr. Nguyen Ngoc Hoa, Chairman of the Ho Chi Minh City Business Association, said that the business operations in the city have recorded positive signals. Business orders have been re-established. Most enterprises have enough orders from now until the end of the year and enterprises are accelerating the implementation of these orders. For example, in the textile and garment sector, agricultural products, etc.
Commenting on the export situation of the industry in the last months of the year, Mr. Nguyen Chanh Phuong, Vice Chairman of the Ho Chi Minh City Handicraft and Wood Processing Association (HAWA) also noted certain optimism. He predicted that from now until the end of the year, the total turnover will reach 14.5-15 billion USD.
On the business side, Mr. Nguyen Quang Anh, Director of Dony Company, excitedly said that the business results in the first 8 months increased by more than 50% compared to the same period last year and the orders received to be completed until the end of the year. This achievement, in addition to retaining traditional customers in the country and exporting to the US and the Middle East, Dony also exploited in countries in the region such as Cambodia, Thailand, Malaysia and Singapore.
However, businesses are also facing difficulties and challenges such as high unit prices of goods, technical barriers such as green standards, traceability... from importing countries. In addition, the growth in export orders comes from FDI enterprises, while purely Vietnamese enterprises are still "running around for food".
Chairman of Ho Chi Minh City People's Committee Phan Van Mai commented that in the third quarter of 2024, Ho Chi Minh City still maintained its growth rate but had not made a breakthrough. Disbursement of public investment capital was very low, reaching only 20% of the annual plan. Therefore, the task set for the fourth quarter is very large, the city must concentrate highly, "sprint" to complete the annual plan. In addition, through the data, it showed that the city's growth in the third quarter was more than 7%. To achieve the growth target of 7.5% this year, Ho Chi Minh City needs to have a growth of over 9% in the fourth quarter, this is a very heavy task and difficult to complete if a breakthrough solution is not identified, Chairman of Ho Chi Minh City People's Committee Phan Van Mai emphasized.
CK
Source: VITIC/ haiquanonline.com.vn