HCMC aims for 1 million billion VND revenue, enhances citizens' quality of life

Ho Chi Minh City has set an ambitious target to collect at least 1 million billion VND in state revenue for 2026. This figure underscores the city's significant responsibility following recent administrative mergers and its potential for future growth. Le Quoc Phong, Deputy Secretary of the Ho Chi Minh City Party Committee, announced that the city's Gross Regional Domestic Product (GRDP) increased by 8.27% in the first quarter of 2026. This marks the highest growth rate for the same period in the last five years, signaling a robust economic recovery and development. City authorities are actively addressing and resolving issues related to long-delayed projects. Task forces, led by high-ranking officials including the Chairman of the City People's Committee and the Chairman of the City People's Council, are working to expedite these projects. The goal is to bring them into operation swiftly, unlock substantial resources, prevent waste, and stimulate economic growth. Furthermore, Ho Chi Minh City is benefiting from a special resolution, Resolution 09, approved by the central government. This resolution, similar to one granted to Hanoi, provides the city with enhanced decentralization and autonomy. It is seen as a precursor to a special urban law, expected to be finalized and submitted to the National Assembly for approval in June 2026. The city is also evaluating its first year of operating under a two-level local government model.

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This is a figure that reflects the great responsibility of a locality after the merger, with the scale, potential, strengths, and development space that currently exists.