In the first seven months of this year, the export turnover of goods from Ho Chi Minh City enterprises stood at more than 24.7 billion USD, up 5.8% against the same period last year.
Despite such figure, the COVID-19 pandemic has hit the city hard. From averaging 8.27% growth each year in the 2016-2019 period, the figure for 2020 has been forecast at about 5%.
Though growth is down, the proportion of the local economy in the national economy continues to rise. In 2019 it accounted for more than 22% as compared to 17% in 2000.
Accounting for nearly a quarter of national GDP is a remarkable effort. Along with substantial contributions from State and non-State economic sectors, the FDI sector has also seen steady growth.
The city has shifted notably towards attracting high-quality, high-tech, and high added-value FDI investment in recent years.
Ho Chi Minh City is calling for investment both at home and aboard to further develop and become a high-tech economy.
The city is making every effort to overcome the difficulties and actively respond to the need for economic recovery post-pandemic. It continues to focus efforts on remaining an economic spearhead that helps Vietnam fully recover./.