Hanoi targets to reach GDP growth rate of 10.5pct in 2010

In the last six months of this year, Hanoi has set target to gain GDP growth rate of 11-11.5 percent, in order to raise the economic growth rate for the whole year to 10.5 percent.

This is part of the proposal that Hanoi City People’s Committee has submitted for approval to the Hanoi Municipal Council on July 13, 2010.

According to the socio-economic reports in the first half of this year, Hanoi’s economy continued its recovery process and saw positive economic growth. The city’s GDP growth rate was estimated to surge 10.1 percent, about 2.5 times higher than last year. In details, the industrial production and construction value increased by 11.5 percent, services up 9.1 percent and agricultural, forestry and aquatic products up 7.3 percent. The city’s total export turnover was posted at $3.437 million, equal to the growth rate of 10.4 percent year-on-year, in which the local exporters estimated to gain $2.276 million of export turnover, up 26.3 percent and the foreign invested enterprises reported the highest growth rate of 37.5 percent.

Meanwhile, the city’s import value was estimated at $10.476 million, up 29.8 percent against the same period of last year. Meanwhile, the consumer price index (CPI) increased by 5.13 percent as compared with last December 2009 and 9.44 percent up against the first half of 2009 of 11.75 percent.

Within the period of Jan-June, Hanoi has granted business registration licences for 9,400 enterprises with total registered capital of about 85.7 trillion dong, jumping by 53 percent year-on-year. Up to the end of June, the whole city has 100,200 enterprises in operation so far.

Nguyen Manh Hien, vice-chair of Hanoi City People’s Committee announced that Hanoi targets to reach GDG growth rate of 10.5 percent for the whole year of 2010.

Tags: Vietnam economic, Vietnam economy, Vietnam GDP, Vietnam GDP 2010

Posted by VBN on Jul 14 2010. Filed under Economy News, GDP. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry