Ho Chi Minh City’s macro-economic forecasts
VOV.VN - A report on the macro-economic situation of Ho Chi Minh City in 2023, which also gives forecasts related to the southern hub’s economic growth in the year ahead, was launched on January 4 at a seminar held by the University of Economics Ho Chi Minh City (UEH) and the municipal Statistics Office.
The report is designed to provide an overview of the southern city’s economy in 2023, forecast its economic growth prospects for this year, and suggest policy recommendations for the municipal authorities.
Prof. Dr. Nguyen Dong Phong, chairman of the UEH University Council, said that the report will serve as a useful tool serving policy-making related to socio-economic development in the largest economic hub in the southern region.
It will also prove to be a crucial reference for both domestic and foreign investors and enterprises, thereby helping them to build investment orientations and business development strategies in Ho Chi Minh City, he added.
Nguyen Khac Hoang, director of the municipal Statistics Office, said that the report was expected to fully meet the requirements of supporting state management and statistics, as well as proposing policy mechanisms for socio-economic development in the city.
According to details set out in the report, Ho Chi Minh City and the wider country faced plenty of difficulties and challenges in exports in 2023, particularly as the export growth remained quite modest in large export markets such as the United States, Europe, and China.
However, the Government is making every effort to address bad debts and to try and increase the liquidity of the banking system in a bid to stimulate credit flows into key sectors, thereby further promoting the recovery of aggregate demand in Ho Chi Minh City and Vietnam.
Furthermore, with the determination to speed up public investment disbursement in Ho Chi Minh City and nationwide, the southern city's economy is expected to grow steadily over the course of the year, especially in the second half, the report said.
It suggests promoting consumer spending, asset accumulation in households and businesses, whilst also striving to expand exports to potential markets such as Japan, the Republic of Korea, and India.
Ho Chi Minh City should therefore focus on developing hi-tech industries and banking and financial services, as well as managing and stably developing its real estate market, the report said.
