link ae888

Private sector to be driving force for HCM City’s development

The private sector will be the driving force for HCM City’s economic growth, a top municipal official has said.
Private sector to be driving force for HCM City’s development ảnh 1Secretary of the HCM City Party Committee Nguyen Thien Nhan speaks at a meeting on November 29 to review socio-economic development  achievements and tasks for next year (Photo: VNA)

HCM City (VNS/VNA) - The private sector will be thedriving force for HCM City’s economic growth, a top municipal official has said.

Speaking at a November 29 meeting to review socio-economicdevelopment and tasks for 2020, Nguyen Thien Nhan, Secretary of the city PartyCommittee, said the private sector had played a crucial role in the city’seconomy and should be given impetus to develop.

“The city shouldnever depend on investment from the State, which plays a leading role inissuing policies and incentives to attract private and foreign investment,” hesaid. “The private sector still faces hurdles, including complicatedadministrative and State management procedures and confusing laws. They needfair opportunities and access to resources for development.”

According to Nhan, in 2005 the State funds in thecity accounted for 32 percent, with the rest being from private and foreignenterprises. The city targets reducing the figure to 16 percent nextyear. 

State investment willbe used mostly for development of infrastructure and services, instead of basicproduction and business activities, according to Nhan. 

HCM City is home to372,000 private firms, contributing 63 percent of local gross domestic product(GDP) and more than 41 percent of State budget collections, he said.

The city plans tocontinue strengthening state management reform, infrastructure development andpromotion of SMEs and start-ups. 

It will also focus onkey economic products, human resources, and cultural programmepromotions. 

The city hasidentified 11 projects for private investors, including transportinfrastructure, sewage treatment, water supply, industrial infrastructure, andtrade and services. 
The municipal government plays a key role inplanning and issuing policies and incentives for enterprises such as in landallocation, taxation, and marketing support. 

The city plans to issue morepolicies on development of IT and science and technology enterprises, whichwill be a driving force for the knowledge-based economy and service andproduction.

In addition, the city authorities seeenterprises’ satisfaction as an important indicator to evaluate the efficiencyof administrative reforms, according to Nhan.

This year HCM City’s economicgrowth is estimated to be 8.32 percent, slightly higher than last year's figureof 8.3 percent.

The city’s economic scaleaccounts for nearly 24 percent of the national economic scale, the highestfigure ever. 

Total investment capital inthe city accounted for 35 percent of the city’s Gross Regional Domestic Product(GRDP), exceeding the average target by 30 percent of the GRDP in the 2016-2020period, he said, adding this was a good sign.

Also speaking at the event, Le Thanh Liem, Permanent Vice Chairman of the municipal  People’s Committee, said the total GRDP wasexpected to be 8.3 percent higher than last year. The service sector hadincreased by 8.59 percent. 

This year, the city’s budgetrevenue is expected to surpass the year’s target, an increase of 9 percent overlast year, according to Liêm. Total retail sales of goods and servicesincreased by 12.1 percent over the same period. 

The total number ofinternational visitors to the city reached 8.5 million, a year-on-year increaseof 14 percent with sales up by 14.5 percent over last year. 

In addition, the cityattracted 6.17 billion USD worth of foreign direct investment (FDI) in the first ten months ofthis year, an increase of 3.4 percent over the same period last year, accordingto the Department of Planning and Investment./.
VNA

See more

A motorbike production line of Honda Vietnam — a Japanese company located in Phu Tho province. (Photo: VNA)

 Phu Tho emerges as FDI magnet followin🎐g mergence

In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Infraction levels will correspond to fines of 1-80 million VND, depending on the nature and number of invoicing violations. (Photo: vietnamfinance.vn)

Maximum fine of 3,000 USD proposed for violating invoice r🌱egulatio♕ns

Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
At the strategic partnership signing ceremony between Sun PhuQuoc Airways and Amadeus. (Photo: Sun Group)

Sun PhuQuoc Airways e🤡nters strategic partnership with Amadeus to build a five-star aviation෴ technology ecosystem

A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
A local resident makes a bank transfer using the Momo app. (Photo: VNA)

Banks accelerat✅e digitalisation, non-cash payments

Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
{dagathomo tructiep hôm nay}|{link link link ae888}|{dá gà thomo}|{trực tiếp đá gà thomo hom nay}|{sbobet asian handicap}|