HCMC targets economic growth of 10 pct next year

December 12, 2009

Ho Chi Minh City is targeting a GDP growth of at least 10 percent next year on expectations of an economic recovery.

The southern hub also plans to keep inflation under 7 percent and targets export growth of 12.7 percent in 2010, according to a resolution passed Friday by the People’s Council, the municipal legislative body.

Le Hoang Quan, chairman of the city People’s Committee, said the city would take different measures to further reduce poverty and improve living conditions for its residents.

The city plans to keep unemployment rate under 5.1 percent and cut paperwork by 30 percent next year, he said.

HCMC is expected to post a GDP growth of between 7.5 and 8 percent this year, down from 10.7 percent in 2008.

Reported by Minh Nam

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