The city of Ho Chi Minh is implementing thorough and determined actions to achieve an economic growth rate of 8.5% or more by 2025, with projections indicating a GDP increase of 10.3% during the latter part of the year.
The city seeks to establish a strong base for double-digit expansion during the years 2026 through 2030.
According to the city’s strategy for the rest of 2025, every department and organization has been assigned particular responsibilities aimed at achieving objectives such as rallying approximately VND780 trillion (US$29.56 billion) in overall societal investment, raising total retail turnover of products and services by 19.2 percent, and expanding exports by 24.3 percent. In terms of tourism targets, the aim is to draw between 8.5 to 10 million foreign travelers, 45 to 50 million local tourists, and achieve total income from tourism ranging from VND260 to VND290 trillion.
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A busy crossroads being renovated in Ho Chi Minh City. Image courtesy of VnExpress/Phuoc Tuan |
The local People’s Committee emphasized the importance of strictly enforcing decisions and guidelines from the Party Central Committee as well as the city’s Party Committee and People’s Council. Officials will further utilize innovative approaches, quickly address economic constraints, and promote administrative improvements. Ongoing tax, charge, and land rental relief measures, including waivers, cuts, and postponements, aim to assist enterprises and residents.
Local authorities are enhancing communication with investors, companies, associations, and individual businesses to promptly recognize issues and offer suitable assistance. Additional initiatives like “fast-track procedures” for projects located in export-processing areas, industrial zones, and technology hubs will continue to be expanded.
Organizations and sections are required to decrease administrative processing durations by a minimum of 30%, lower operational expenses by 30%, and remove at least 30% of redundant business requirements, thereby enhancing the appeal of the investment environment and accelerating investment processes. The municipality is also dedicated to completely releasing its 2025 state budget funds and drawing in extra community investments wherever possible.
The city remains committed to fully spending its 2025 state budget capital plan, while seeking increased societal investments when opportunities arise.
In the future, HCMC intends to speed up the advancement of high-value services, boost exports and commerce, encourage local spending, and grow the tourist industry. Key areas for expansion involve science and technology, creativity, digital change, and skilled labor. The city will utilize scientific research funding, risk capital, startup and innovation grants, and adopt financing approaches like “government investment – private operation” and “private investment – government usage.”
Full-scale digitization will persist throughout governmental operations, covering e-government, economic development, societal structures, and citizen-oriented services. The city will promote its data management approach, improve public administration service frameworks, and speed up the implementation of 5G networks.
Regarding
U.S. tariff policies
The People’s Committee urged local governments to work closely with departments to suggest actions that enhance competitiveness, assist impacted industries, create tracking mechanisms, and boost participation in regional and international production and value networks.
