{"id":6988,"date":"2024-03-30T18:58:00","date_gmt":"2024-03-30T11:58:00","guid":{"rendered":"https:\/\/fsb.edu.vn\/?p=6988"},"modified":"2024-04-01T19:02:48","modified_gmt":"2024-04-01T12:02:48","slug":"hcmc-economic-growth-at-five-year-high","status":"publish","type":"post","link":"https:\/\/fsb.edu.vn\/en\/hcmc-economic-growth-at-five-year-high.html","title":{"rendered":"HCMC economic growth at five-year high"},"content":{"rendered":"\n<p><strong>Ho Chi Minh City\u2019s economy has grown by 6.54% this year, its strongest first-quarter growth since 2020.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"408\" src=\"https:\/\/fsb.edu.vn\/wp-content\/uploads\/2024\/04\/TPHCM.jpg\" alt=\"\" class=\"wp-image-6989\" srcset=\"https:\/\/fsb.edu.vn\/wp-content\/uploads\/2024\/04\/TPHCM.jpg 680w, https:\/\/fsb.edu.vn\/wp-content\/uploads\/2024\/04\/TPHCM-768x460.jpg 768w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/figure>\n\n\n\n<p><em>Downtown District 1, Ho Chi Minh City, February 2023. Photo by VnExpress\/Quynh Tran<\/em><\/p>\n\n\n\n<p>It beat the 5.5% growth forecast by experts, according to the Statistics Office of Ho Chi Minh City. The previous highest Q1 rate was 4.58% in 2021. Last year it had only grown at 0.7%.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"687\" height=\"395\" src=\"https:\/\/fsb.edu.vn\/wp-content\/uploads\/2024\/04\/hcmc.png\" alt=\"\" class=\"wp-image-6992\" srcset=\"https:\/\/fsb.edu.vn\/wp-content\/uploads\/2024\/04\/hcmc.png 687w, https:\/\/fsb.edu.vn\/wp-content\/uploads\/2024\/04\/hcmc-768x441.png 768w\" sizes=\"auto, (max-width: 687px) 100vw, 687px\" \/><\/figure>\n\n\n\n<p>The services sector contributed the most to the growth with an expansion of 7.34% year-on-year, according to official data.<\/p>\n\n\n\n<p>Two other pillars of the city\u2019s economy, industry and construction, expanded by 5.66% while agriculture, forestry and fisheries achieved growth of 0.85%.<\/p>\n\n\n\n<p>For every new business entering the market, one shut down, representing a 1:1 ratio, worse than the 1:0.9 in the same period last year, it added.<\/p>\n\n\n\n<p>Loans outstanding increased by 8%. Nguyen Khac Hoang, head of the statistics office, said the city should focus more on domestic consumption as exports are sluggish.<\/p>\n\n\n\n<p>Public investment also needs to be promoted, he said. This year the city has only spent VND5.6 trillion ($2.26 million), or 7.1 of the full-year public investment, while the target was nearly VND8 trillion.<\/p>\n\n\n\n<p>Looking at the remainder of the year, a high growth rate will be difficult to achieve since it will be from the high base of last year. This year city targets growth of 7.5-8%.<\/p>\n\n\n\n<p><em>Source: eVnexpress<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ho Chi Minh City\u2019s economy has grown by 6.54% this year, its strongest first-quarter growth since 2020. Downtown District 1, Ho Chi Minh City, February 2023. Photo by VnExpress\/Quynh Tran It beat the 5.5% growth forecast by experts, according to the Statistics Office of Ho Chi Minh City. The previous highest Q1 rate was 4.58% &#8230;<\/p>\n","protected":false},"author":2,"featured_media":6989,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[25],"tags":[],"class_list":["post-6988","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-vietnam-economic-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>HCMC economic growth at five-year high - FPT Education<\/title>\n<meta name=\"description\" content=\"Ho Chi Minh City\u2019s economy has grown by 6.54% this year, its strongest first-quarter growth since 2020.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fsb.edu.vn\/hcmc-economic-growth-at-five-year-high.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HCMC economic growth at five-year high - 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