An aerial view of HCM City (Photo: VNA) HCM City (VNS/VNA) – Ho Chi Minh City 's economic growth in the first quarter was only 0.4 percentage points higher than in the same period last year, Nguyen Thanh Phong, Chairman of the municipal People's Committee, told a recent online meeting. The COVID-19 pandemic is expected to have a huge impact on the city's economy from the second quarter onwards since enterprises have begun to see decrease of orders from major export markets, he said. The city needs to come up with solutions to keep its economy afloat, he added. It has rolled out policies to sustain its economy including financial assistance for people facing difficulties due to the outbreak and workers who have lost their jobs. Phong said relevant agencies should ensure the money reaches the beneficiaries in a timely manner. They also need to conduct surveys on what companies and home-based businesses need to mitigate their difficulties and set up criteria for priority, he said. The city would continue to reduce red tape to ensure the circulation of goods, he promised. He instructed relevant agencies to model economic development scenarios for each quarter and the whole year, assess and… Read full this story
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