The total retail sales of goods and services in Ho Chi Minh City in January reached over VND103.2 trillion ($4.3 billion), a year-on-year rise of 24.4 per cent, according to the city’s Statistics Office.

The tourism sector posted a strong recovery last month, with total revenue of nearly VND13 trillion ($541 million), up 57 per cent compared to the same period last year.

Figures from the office show that the southern city’s Index of Industrial Production (IIP) was estimated to have fallen 4.5 per cent compared to December but grown 26.9 per cent year-on-year.

As of January 20, over 3,300 enterprises had been established with total registered capital of more than VND39 trillion ($1.62 billion), up 30.2 per cent in number and 117.2 per cent in value year-on-year.