On February 22, at the press conference providing key information for the first quarter of 2024 of the Ho Chi Minh City Department of Industry and Trade, Mr. Bui Ta Hoang Vu, Director of the Department, announced the good news that after the Lunar New Year 2024, most businesses already have orders. Some businesses resumed operations from February 15, while others resumed operations from February 19.
Among them, many businesses in the two most difficult sectors in 2023, textile and garment and wood processing, have orders until June 2024. In particular, a textile and garment business has received orders until the end of this year.
According to Mr. Vu, in January 2024, the city’s industrial production index (IIP) increased by 26.9%, domestic trade increased by 15.5%, and export turnover increased by 23.3%. Although there is no official data for February yet, with the positive results that are currently taking place, the Department of Industry and Trade predicts that the industrial production and trade activities will achieve positive results in the first quarter of 2024.
Domestic trade in Ho Chi Minh City increased by 15.5% in January 2024
“To achieve the economic growth target of 7.5% this year, Ho Chi Minh City has identified 3 key pillars throughout the year, which are production and export activities, stimulating domestic consumption, and promoting public investment. This year, the Department of Industry and Trade has changed the way work is organized, starting work immediately on programs that have the best potential to impact economic activities” – Mr. Vu said.
Regarding information about the activities of the industry and trade sector during the Lunar New Year and 2024, Mr. Le Dinh Hieu, Head of the Planning, Finance, and Synthesis Department, said that the production and supply of Tet goods and energy, as well as utilities such as electricity, gas, gasoline, chemicals, etc., are stable throughout the Lunar New Year, meeting the needs of the people, businesses, and maintaining in the following months.
Forecast for the first quarter of 2024, the results of industrial production and trade activities will achieve positive results, maintaining and growing in scale compared to the same period with an increase of 5% for the industrial sector and over 10% for the commercial sector, export turnover will increase by over 7%.
According to the plan, from now until the end of the year, the Department will organize 17 activities and main promotional events to support businesses. Among them are 11 trade fairs and exhibitions. “Especially, this year, for the first time, the Department of Industry and Trade will organize the Gift Show – a fair of gift products, handicrafts, to support small and medium-sized enterprises in the field of gift production for tourism, business, etc. The Department also innovates methods of promotion and communication to promote the market with the Hochiminh City Export Fair (Hochiminh City Export) for the second time in May 2024” – Mr. Hieu said.
