HCM City targets 8 percent growth HCM City is striving to record a gross regional domestic production (GRDP) growth of 8 per cent in 2016.   HCM City is striving to record a gross regional domestic production (GRDP) growth of 8 per cent in 2016. The target was presented yesterday at the two-day sixth meeting of the municipal Party Committee. To achieve its target, the city has focused on implementing Government resolutions on improving the business environment, increasing national competitiveness in 2016-2017 with a vision towards 2020, and supporting businesses until 2020. Authorities will also step up the equitisation of State-owned enterprises and enact measures to improve the Provincial Governance and Public Administration Index (PAPI) and the Provincial Competitiveness Index (PCI). They also plan to take measures to remove obstacles for businesses and facilitate production, business and investment, especially bettering administrative procedures in taxation and customs; supporting enterprises with capital, business premises, and technological renovation; and fostering a startup spirit among youngsters. Vice Chairman of the municipal People’s Committee, Lê Thanh Liêm, reported that the GRDP was estimated at over VNĐ476.9 trillion  (US$21.4 billion) in January-June, a 7.47 per cent increase over last year. The total retail sales and services revenue hit more than VNĐ347.5 trillion ($15.6 billion), up 11.3 per cent against the same period last year, he said. He added that the city welcomed over 2.43 million international tourists in the first half of 2016, a rise of 12.2 per cent. The industrial production index rose by 6.9 per cent, with the processing and manufacturing industry continuing its high growth, he noted. Tax collection reached over VNĐ143.9 trillion  ($6.47 billion), representing an annual increase of 8.08 per cent, he said, adding that the social investment capital topped VNĐ125.1 trillion  ($5.62 billion), up 9.1 per cent. VNS