HCM City aims for 7.5-8 per cent growth in 2024

Võ Văn Hoan, vice chairman of the municipal People’s Committee, speaks at the 13th session of the 10th People’s Council on Wednesday. — VNA/VNS Photo

HCM CITY — HCM City aims to achieve a growth rate of 7.5-8 per cent and attain 100 per cent of State budget revenue targets in 2024.

Speaking at the 13th session of the 10th People’s Council on Wednesday, Võ Văn Hoan, vice chairman of the municipal People’s Committee, said the city’s growth this year was estimated to be 5.8 per cent, well below the earlier target of 7.5-8 per cent.

Despite the challenges ahead, the city has set a range of targets for the upcoming year.

The targets include increasing tourism revenue to over VNĐ190 trillion, attracting over 6 million international visitors, upgrading 100 per cent of its information technology infrastructure, having 297 classrooms per 10,000 school-age residents, and aiming for 87 per cent of its trained workforce to have certificates or training qualifications.

The city also plans to create 140,000 new jobs and put into use three general hospitals in the Thủ Đức, Hóc Môn, and Củ Chi districts.

Other targets include increasing the proportion of land used for transportation to 14.4 per cent, achieving an average road density of 2.4 kilometres per square kilometre, constructing 8 million square metres of new housing with an average living area of 22.06 square metres per person, providing 100 per cent of administrative procedures online, and ensuring that 95 per cent of its population is satisfied with the services provided by government agencies.

Tasks for 2024

To attain its target growth rate for 2024, Nguyễn Văn Nên, secretary of the HCM City Party Committee, said the city will prioritise expediting public spending, boosting consumption, and resolving the challenges faced by businesses in 2024.

The city has disbursed over 50 per cent of its 2023 public investment plan as of the end of November.

Total retail sales of goods and consumer services in 2023 increased by 10.8 per cent, and total tourism revenue increased by 22 per cent over 2022.

International visitors to the city increased by 44.3 per cent and the number of newly established businesses increased by 10 per cent.

However, the city’s economic recovery will continue to face challenges next year caused by escalating global turmoil, Nên warned.

“The global economic slowdown and inflation have affected all economic sectors, hindering recovery,” he noted.

The real estate, stock and bond markets will continue facing obstacles next year despite a number of Government measures, according to Nên.

A number of enterprises have been reporting a lack of export orders due to weak global demand.

Nguyễn Thị Lệ, chairwoman of the city People’s Council, said the meeting will vote on the confidence of 31 key leaders, including those at the city’s People’s Committee and People’s Council.

The three-day meeting will also address specific proposals related to the National Assembly’s Resolution 98 on the income level of experts, scientists, and individuals with special talents, as well as investment plans for major infrastructure projects in the city.

In addition, delegates will also question various departments and district leaders, seeking clarification on their performance and fulfilment of duties, she noted. — VNS

A view of HCM City’s skyline seen from Thủ Thiêm new urban area in Thủ Đức City. The city aims to achieve a growth rate of 7.5-8 per cent in 2024. — VNS Photo Bồ Xuân Hiệp