Ho Chi Minh City recorded strong gross regional domestic product (GRDP) growth in the first half of the year, of 3.55 per cent, according to the city’s Statistics Office.

Figures show that the total value of retail trade of products and services reached over VND561.7 trillion ($23.7 billion), a year-on-year increase of 7.1 per cent.

The Index of Industrial Production (IIP) rose 1.9 per cent against the same period last year.

As of June 20, more than 23,000 businesses had been established, for year-on-year growth of 7.6 per cent.

The city disbursed VND10.244 trillion ($432 million) worth of public investment capital in the period, equivalent to 15 per cent of the capital allocated for the year.

The Statistics Office said growth remains modest but demonstrates the efforts of city authorities in addressing the difficulties and obstacles facing businesses.