Almost all manufacturing, trading activities in HCMC resume
HCMC has seen almost all manufacturing enterprises resume after the Covid pandemic and operate at over 95% capacity.
Many firms in hi-tech parks in the city have resumed at full capacity, Nguyen Thai Hung, deputy head of the Planning, Finance and General Division under the HCMC Department of Industry and Trade, told a press briefing on February 11.
Besides, many retail chains have restarted operations. Up to date, 213 of 233 traditional markets have reopened their doors, while 3,047 of 3,101 groceries, shopping malls and supermarkets have resumed.
Despite the plunge in retail sales of consumer goods and services in 2021 due to the pandemic, January this year saw the retail sales hit VND73.5 trillion, up 5.1% month-on-month.
In addition, HCMC’s import-export activities also made positive moves in January. HCMC exported US$3.75 billion worth of goods in January, up 6.5% year-on-year, while its import value rose by 5.9%.
The city’s index of industrial production (IIP) has rebounded since October last year after its sharp drop for long time due to the Covid pandemic. HCMC reported an IIP growth rate of 13.5% in December in 2021.
In January, the city had over 3,190 newly-established firms, up 24.6% year-on-year, while seeing 4,850 firms return to the HCMC market, up 36.3% against the year-ago period. The number of firms leaving the market fell by 7.7%.
Bui Ta Hoang Vu, director of the HCMC Department of Industry and Trade, said that since the city eased social distancing in October 2021 and adopted various solutions to spur the economic recovery, business and production activities have recovered strongly.
According to several economic experts, this tax reduction is anticipated to help reduce service costs, thereby stimulating consumption, promoting production and business, whilst also creating additional jobs for workers.