Ho Chi Minh City is the most important economic center in Vietnam as
it accounts for a big percentage of Vietnam's economy. Some 300,000
businesses, including many large enterprises, are involved in high-
tech, electronic, processing and light industries, also in
construction, building materials and agro-products. Investors are
still pouring in money into the city. Total local private investment
was 160,000 billion VND ($10 billion) with 18,500 newly founded
companies.[citation needed] Investment is trended to hi-tech and
services, real estate projects. Currently, the city has 15 industrial
parks (IP) and export-processing zones (EPZ), in addition to the Quang
Trung Software Park and the Saigon Hi-Tech Park (SHTP). Intel invested
about 1 billion dollar factory in the city.There are 171 medium and
large scale markets, tens of supermarket chains, dozens of luxury
shopping malls and many modern fashion or beauty centers. There are
many malls and shopping plazas developing in the city. Over 50 banks
with hundreds of branches and about 20 insurance companies are
situated inside the city.[citation needed] The first first stock
exchange of Vietnam was opened in the city in 2001 and is today one of
Asia's best performing Stock Markets.[citation needed][neutrality
disputed]
In 2007, the city's Gross Domestic Product (GDP) was estimated at USD
14.3 billion, or about USD 2,180 per capita, (up 12.6% on 2006) and
accounting for 20% GDP of the country. The GDP calculating Parity
Purchasing Power method (PPP), attained USD 71.5 billion, or about USD
10,870 per capita (approximately 3 times higher than the country's
average). The city's Industrial Product Value was USD 6.4 billion,
equivalent to 30% of the whole nation. Export - Import Turnover
through HCMC ports took USD 36 billion, or 40% of the national total,
of which, export revenue reached $18.3 billion, accounted for 40% of
Vietnam=92s total export revenue. At 2007, Ho Chi Minh City has also
contributed about 20,5% to the national budget's revenue annually ,
[8].
In 2007, this city contributed 92,000 billion VND (approx. $6
billion), an increase of 30% compared to that of 2006. In 2007, this
city served 3 million foreign tourists, made up 70% that of Vietnam.
Total cargo transport to Ho Chi Minh City=92s ports reached 50.5 million
metric tonnes, nearly one-third of that in Vietnam.[9][10].
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