Ho Chi Minh City Aims for Double-Digit Growth, Targets Removal of Investment and Land Bottlenecks

Ho Chi Minh City is setting its sights high, with the Party Committee issuing a directive to achieve robust double-digit economic growth from 2026 to 2030. This ambitious goal, targeting an annual GRDP increase of over 10%, reflects the city's determination to solidify its position as Vietnam's economic powerhouse. The leadership recognizes that to reach this target, significant hurdles in land management and investment processes must be overcome, alongside a concerted effort to streamline administrative procedures.

This directive is not merely about numbers; it's framed as a critical political task. The responsibility for achieving these growth targets falls directly on the shoulders of cấp ủy (Party committee) leaders and heads of agencies. Their performance in implementing these strategies will be a primary metric for evaluation, signaling a clear message of accountability throughout the city's administration. The focus is on concrete action, with specific growth targets to be set for each sector and locality by the second quarter of 2026.

From our perspective at Tuổi Trẻ, this push for accelerated growth is understandable given Ho Chi Minh City's vital role in the national economy. However, the emphasis on removing 'bottlenecks' suggests a recognition of past inefficiencies. The commitment to administrative reform, including a 30% reduction in processing times and the digitization of procedures, is crucial. Furthermore, the plan to restructure public investment, focus on key infrastructure projects, and attract private and foreign investment signals a pragmatic approach to development. The aspiration to establish an international financial center and foster an innovation ecosystem highlights the city's forward-looking vision, aiming to compete on a global stage.