HCM City’s GDP hits ten-year record

HCM City ’s gross domestic product (GDP) surpassed 228.6 trillion VND (14.3 billion USD) in 2007, a year-on-year rise of 12.6 percent and the ten-year record, reported the city’s People’s Committee.

At the 12 th meeting of the seventh tenure of the HCM City People’s Council on December 4, the municipal People’s Committee said that 14 socio-economic targets for 2007 have been fulfilled, including the economic growth rate surpassing the average target of 12 percent set for the 2006-2010 period.

The city’s export revenues hit 16.59 billion USD this year, a year-on-year rise of 15.5 percent.

However, weak infrastructure facilities, overlapped planning, traffic congestion and cumbersome administration are hindering the city’s socio-economic development, the report said.

Settlement of petitions, land use management and environment protection, and the list of capital construction and land prices will be high on the agenda.

Municipal People’s Council President Pham Phuong Thao said that 104 voters’ petitions and 61 questions on traffic jams, administrative reform, infrastructure construction, environmental pollution, food hygiene and epidemics have been sent to the People’s Council for its hearing on December 5.

source: http://english.vietnamnet.vn