In 2017, the city recorded an 8.25% increase in gross regional domestic product (GRDP), higher than the 8.05% growth in the previous year. HCM City received US$5.2 billion in foreign remittances, 70% of which were poured into investment, being an important financial resource to boost business production. The city channelled over VND347.9 trillion (US$15.3 billion) for the State budget, representing a year-on-year rise of 12.94%. The good growth rate in 2017 creates an impetus for the city to strive for stronger development in 2018 and fulfill the target of an economic growth of 8.5% in 2015-2020. The city will focus investment on major infrastructure projects to ease traffic congestion and accidents, reduce inundation and environmental pollution, and cope with climate change.

Source: VietNamNet News January 02, 2018 04:18 UTC