HCMC posts highest H1 GDP growth since 2006

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Ho Chi Minh City's economy grew by 11 percent in the first six months of this year, the highest rate since 2006, a senior city official has said.

The growth rate was twice as high as the same period last year, and driven mainly by the service sector, which accounted for 52.4 percent of the total GDP, Le Hoang Quan, chairman of the city People's Committee, said at a conference Thursday.

Quan said the city's economy has improved significantly this year, with retail sales growing 33.1 percent in the January-June period and exports, excluding crude oil and gold, up 19.6 percent.

The city is aiming at an annual growth of 11 percent this year, higher than the national target of between 6.5 percent and 7 percent.

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