New policy aims to boost growth of local enterprises, support industry

The trade and industry sector in HCM City plans to offer more support to local companies this year, Pham Thanh Kien, director of HCM City’s Department of Industry and Trade, said at a meeting reviewing the sector’s activities last year.

This year, the trade and industry sector targets reaching an industrial production index growth of 7 per cent, while retail and consumption value is expected to increase by 8-8.5 per cent.-Photo kinhtevn.com.vn

Kien said that representatives from the trade and industry sector would revise their approach this year and hold direct discussions with company officials about their difficulties. In the past, companies which faced challenges had to visit his department’s office.

This year, the trade and industry sector targets reaching an industrial production index growth of 7 per cent, while retail and consumption value is expected to increase by 8-8.5 per cent.

To reach the goal, Kien said his sector would focus on stabilizing prices as well as the market, while developing domestic distribution systems and increasing exports.

The department will also develop two sub-regions for the supporting industry, and with this investment, will aim to reach a localisation level of more than 65 per cent.

With the goal of organising a model market selling safe and clean food by 2020, the city plans to develop industrial material sources for clean and safe processing.

Le Thanh Liem, deputy chairman of the city’s People’s Committee, said at the meeting that he had given guidance to the city about the revised policy and goals.

He said the industrial production index growth should be 8 per cent, while retail and consumption value must be 9 per cent.

This growth would ensure that the city reach GDP growth of 8.3-8.7 per cent this year, Liem said.

Last year, the sector had good growth, with the industrial production index gaining 7.33 per cent, an increase of 33 percentage points compared to the annual target.

Source VNS