HCM City adjusts down several development targets

The 11th Party Congress of Ho Chi Minh City for the 2020-2025 tenure on October 17 agreed to adjust down a number of development targets set for the 2020-2025 period.

11th Party Congress, Ho Chi Minh City, 2020-2025 tenure, development targets, annual GRDP growth rate, international financial institutions, private and foreign sources, Vietnam News Agency, 11th Party Congress, Ho Chi Minh City, 2020-2025 tenure, development targets, annual GRDP growth rate, international financial institutions, private and foreign sources, Vietnam News Agency, VietnamplusVice Secretary of the municipal Party Committee and Chairman of the municipal People’s Committee Nguyen Thanh Phong (Photo: VNA)

HCM City (VNA) – The 11th Party Congress of Ho Chi Minh City for the 2020-2025 tenure on October 17 agreed to adjust down a number of development targets set for the 2020-2025 period.  

Accordingly, the annual GRDP growth rate targeted for 2020-2025 is revised down to 8 percent from the initially projected 8 – 8.5 percent, while the per capita GRDP would be 8,500 USD per year instead of between 8,500 – 9,000 USD.

The adjustment of the projected per capita GRDP in the 2020-2025 period will also affect the next period, so the corresponding target for 2030 will be revised to 13,000 USD per year and 37,000 USD by 2045. The goals set in the draft document were 13,000-14,000 USD by 2030 and 40,000 USD by 2045.

Explaining the adjustment, Vice Secretary of the municipal Party Committee and Chairman of the municipal People’s Committee Nguyen Thanh Phong said the complicated development of the COVID-19 pandemic has affected all aspects of socio-economic life in Vietnam and the world as a whole. He noted that many international financial institutions forecast that the negative impacts of the pandemic will continue until the end of 2021, thus affecting investment resources, particularly private and foreign sources for the city’s development.

The congress adopted the adjustments with 100 percent of votes./.
VNA
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