HN strives for higher GRDP in H2

July 07, 2020 9:00 AM GMT+7

VGP – Ha Noi is determined to strive for a GRDP that is 1.3 times more than the national average growth rate and collect VND 285 trillion (US$ 20.04 billion) in the second half of 2020, said Secretary of the Ha Noi Party Committee Vuong Dinh Hue.

Secretary of the Ha Noi Party Committee Vuong Dinh Hue

Mr. Hue made the statement today at the 15th meeting of the Ha Noi People’s Council. 

According to Mr. Hue, Ha Noi has joined hands with other localities in the country to combat the COVID-19 pandemic.

However, the local economy was hard hit by the pandemic in April before showing signs of recoveries in May, and bounded back in June. 

Particularly, in June, Ha Noi’s GRDP stood at 3.39% which is higher than the national average rate of 1.81% amidst minus 4.9% of global economic growth, according to the latest report of the IMF.

The service sector, the worst affected, saw a year-on-year increase of 2.59%. Industry and construction expanded 5.94%. Agricultural suffered from a negative growth rate of 1.17% in Q1; grew 3.5% in Q2; and 1.61% in the first half of 2020. 

The Party leader stressed that the city will continue to pursue the “dual goals” of preventing diseases and boosting economic growth; and successfully organize district Party Congress towards the 17th Ha Noi Party Congress. 

Earlier, the local authorities passed two growth scenarios for the second half of 2020. Accordingly, in the first scenario, growth rate was forecast at 7.8% for Q3; 8.4% for Q4; and 5.9% for the whole year. In the second one, growth rate was projected at 6.9% for Q3; 7.4% for Q4; and 5.4% for the whole year. 

Under the two scenarios, Ha Noi’s GRDP was estimated at about 5.4% in 2020 (6.96% in the 2016-2020 period), or even higher at about 5.9% (7.06% in the 2016-2020 period).

Hence, Mr. Hue asked the Ha Noi People’s Council attach importance to optimizing the domestic market; stabilizing the macro-economy; controlling inflations especially striving for higher GRDP, 1.3 times more than the national average growth rate and collect VND 285 trillion (US$ 20.04 billion) in the second half of 2020.

The Party leader underlined the necessity to tighten administrative discipline; streamline administrative procedures; boost IT application; develop smart city; supervise planning and building of urban areas and new style rural area building; and preserve natural resources./.

By Khanh Phuong 

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