At the conference to review the implementation of socio-economic development tasks in 2023 and disseminate and deploy tasks in 2024 in Ho Chi Minh City on January 6, Dr. Tran Du Lich - Member of the National Monetary Policy Advisory Council, Chairman of the Advisory Council for the implementation of Resolution 98 - acknowledged that in 2023, Ho Chi Minh City's economy had turned around from "free fall" in the first quarter and "peaked" in the fourth quarter.
Dr. Tran Du Lich commented that to determine whether Ho Chi Minh City's economy will "free fall" like in the first quarter of 2023, it is necessary to clearly analyze the root of the problem.
Regarding the economic growth target of 7.5 - 8% in 2024, Mr. Lich acknowledged that this is a huge challenge, difficult but not impossible. Currently, it is much better than the first quarter of 2023. Therefore, Ho Chi Minh City's economic growth in the first quarter of 2024 may still be difficult but will certainly not experience a "free fall" like the first quarter of last year.
Dr. Tran Du Lich speaks at the conference. (Photo: Viet Dung)
“The first quarter of 2024 lost half a month of Tet, so it certainly cannot have a normal growth rate like the end of 2023, but a "free fall" like the beginning of 2023 will not happen,” Mr. Lich said.
The Chairman of the Advisory Council for the implementation of Resolution 98 also said that Ho Chi Minh City needs to have a system of regulations on clear decentralization to remove difficulties and obstacles, especially in public investment and pumping capital into the market right from the present time.
" The real estate market is only frozen in the speculative segment, while the products that consumers need are still seriously lacking. This is the point that the city needs to focus on solving," Mr. Lich suggested.
Also presenting a speech at the conference, Director of the Department of Planning and Investment Le Thi Huynh Mai said that in 2024, Ho Chi Minh City aims for a growth rate of 7.5-8%.
To achieve this goal, Ms. Mai said that promoting public investment, attracting capital, supporting private investment, and foreign investment are key tasks that need to be focused on more.
From there, the Department of Planning and Investment proposed to continue to thoroughly grasp and improve the capacity and responsibility of investors, Chairmen of local People's Committees, and promote the role of working groups.
Reporting on the socio-economic situation in 2023, Vice Chairman of the Ho Chi Minh City People's Committee Vo Van Hoan acknowledged that in 2023, Ho Chi Minh City's economy will face many major difficulties, especially after the discovery of a number of major economic cases. The cases have directly impacted the financial, monetary, stock, and real estate markets and affected the growth and development of the manufacturing, consumption, service, and tourism sectors.
Of the 21 main component indicators (of 17 groups of indicators) in 2023, it is expected that 13 indicators will be achieved and exceeded; 08 indicators are expected to not be achieved.
The total product in the area GRDP in 2023 is estimated at 1,621,191 billion VND (at current prices). Calculated at 2010 comparative prices, it reached 1,099,072 billion VND, an increase of 5.81% compared to 2022.
Ho Chi Minh City also achieved the goal of preventing the decline, economic sectors had a good growth rate; the City's Socio-Economic Recovery and Development Program continued to be effective; the timely implementation of tasks and solutions to implement the 2023 work theme was basically completed according to plan...
Hoang Tho
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