HCM City’s enterprises keep pace with growth momentum

HCM City’s enterprises keep pace with growth momentum

According to the municipal Statistics Office, in the period, total retail sales of goods rose by 9.7% year-on-year, revenue from accommodation and food services increased by 36.2%. In particular, the number of foreign tourists to the city tripled over the same period, contributing to the boost in domestic demand and economic growth.

The index of industrial production (IIP) in June rose by 2.3% month-on-month, and 4.8% against that of the same month of last year. In the January-June period, the IIP increased by 1.9% year-on-year.

A survey on business trends of manufacturing and processing enterprises in Ho Chi Minh City also showed an improvement in production and business activities in the second quarter of 2023 compared to the previous one. Specifically, 19.3% of the enterprises rated their production and business situation as better; 34.1% held steady and 46.6% more difficult.

State-owned enterprises were the most optimistic with 66.7% of the respondents saying that their operations were better and kept stable. Meanwhile, the rates in foreign-invested and non-state enterprises are 56.2% and 50.3%, respectively.

For the third quarter, 26.4% of the respondents predicted that their production and business will be better, 35.1% stable, and 38.5% more difficult./.