On the afternoon of August 1, the Ho Chi Minh City People's Committee held a preliminary review of the economic situation in the first 7 months of the year and set out tasks for the remaining time of 2024.

Speaking at the meeting, Chairman of Ho Chi Minh City Phan Van Mai noted that in the 6-month socio-economic review, the City Party Committee issued a directive resolution, the City People's Committee issued a document (3843) to localities on task implementation, in which, in July, departments and branches are required to have specific reports on the contents, tasks and complete the set goals according to the directive document.

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Chairman of Ho Chi Minh City People's Committee Phan Van Mai directed at the meeting. Photo: TTBC

“Up to now, basically the departments and branches have not implemented it. I request the units to re-examine and implement according to the document. This time, it is only a reminder, but if they continue to not implement, the heads of the units will be criticized,” the Chairman of Ho Chi Minh City emphasized.

In addition, the head of the city government also noted that coordination between departments is still not smooth. This department asks for opinions from that department, making appointments and then letting them pass without responding. This discipline must be tightened to make coordination better, to run better, in order to contribute to the implementation of the socio-economic growth target set by the city.

Striving to achieve 7.5% growth by the end of the year

Reporting at the conference, Mr. Truong Minh Huy Vu, Deputy Director of the Institute for Urban Development Studies, said that the city's economy over the past 7 months has shown signs of recovery with all basic indicators growing.

Accordingly, the initial scenario given by the City People's Committee, in the remaining months, Ho Chi Minh City's economic growth could reach 7.5-8%, while the Statistics Office gave about 7-7.5%.

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Mr. Truong Minh Huy Vu, Deputy Director of the City Development Research Institute, spoke. Photo: TTBC

“Thus, the intersection point of the two scenarios is 7.5%, so opinions agree on a growth target of 7.5% for 2024 and create a premise for 2025 to reach 8%,” said Mr. Vu.

According to Mr. Vu, to reach 7.5%, great efforts are required in the remaining months, in which major bottlenecks must be focused on removing.

Specifically, the Deputy Director of the Research Institute said that the whole city needs to focus on 7 basic groups of tasks.

That is, focusing on public investment and exploiting investment capital; promoting administrative reform, with the implementation of the project on effective and efficient civil service and promoting decentralization and delegation of authority to subordinates; promoting public spending and stimulating consumption; focusing on import and export; expanding land funds for developing social housing projects, houses along and on canals; promoting new growth drivers such as digital economy, green transformation and the last group is promoting and increasing capital for green investment, building Ho Chi Minh City into a new and large service center of the country and the region.

Today's problem, tomorrow must be solved immediately

Reporting on public investment disbursement, Director of the Department of Planning and Investment Le Thi Huynh Mai said that the city has assigned and allocated a detailed public investment capital plan for 2024 of more than 79 trillion VND, including central budget capital of more than 3 trillion VND and local budget capital of more than 75 trillion VND.

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Ms. Le Thi Huynh Mai reported on public investment disbursement at the conference. Photo: TTBC

According to the State Treasury's report, as of July 26, the total disbursed public investment plan capital for 2024 was nearly 12 trillion VND, reaching 14.9% of the assigned capital.

Regarding this issue, Mr. Phan Van Mai said that the city set a target of at least 95% public investment disbursement by the end of 2024, but the newly achieved rate is a huge challenge. In the remaining 6 months, 10,000 billion VND must be disbursed each month. Therefore, departments and branches need to focus on accelerating the progress of projects. Investors must commit to monthly disbursement with specific figures.

“I and the city vice chairmen are in charge of each group to resolve problems. We will regularly visit the construction site to survey and inspect. We will work with the spirit of today's problems, tomorrow we will solve them,” Mr. Mai pledged.

Chairman of Ho Chi Minh City: Public investment disbursement is still a concern for the city . In the first 6 months of the year, public investment disbursement in Ho Chi Minh City only reached 13.8%. Chairman of the City Phan Van Mai expressed his concern and requested to review the problems and find solutions.
Chairman of Ho Chi Minh City: With Resolution 98, working in 1 year is more effective than in a whole term . Chairman of Ho Chi Minh City People's Committee Phan Van Mai affirmed that after nearly 1 year of implementing Resolution 98 of the National Assembly, the results achieved are more than in a whole term (5 years) compared to the previous special Resolution 54.