Ho Chi Minh City economy grows 8.55% in first half, budget revenue tops 477 trillion dong

Ho Chi Minh City's economy demonstrated robust growth in the first half of 2026, expanding by 8.55% and generating state budget revenue of over 477 trillion dong. This positive economic performance was highlighted in a report presented at the 7th conference of the City Party Committee.

The city's Gross Regional Domestic Product (GRDP) is estimated to have reached approximately 1.55 quadrillion dong, marking a significant increase compared to the same period last year. Total social investment rose by 9.9% to nearly 309.8 trillion dong. The industrial production index (IIP) saw a notable rise of 11.1%, with manufacturing output increasing by about 11.5%. Trade and services also played a crucial role, with total retail sales of goods and consumer service revenue climbing by 13.2% to over 967.5 trillion dong.

Tourism experienced a remarkable rebound, with revenue soaring by 63.9% to nearly 214 trillion dong. The number of international visitors increased by 58.1% to 6.39 million, while domestic tourist numbers exceeded 27.3 million. This surge in tourism activity has significantly contributed to the city's economic dynamism.

Furthermore, Ho Chi Minh City has become a magnet for foreign investment, attracting over $7.5 billion in foreign direct investment (FDI), an 89% increase year-on-year. The city also saw the establishment of 31,166 new businesses, a 14.27% rise, and its innovation startup ecosystem ranked among the top 100 globally for the first time.

Despite these successes, the city faces pressure to achieve its double-digit GRDP growth target for 2026. Challenges persist in public investment disbursement, planning, land management, and the implementation of a two-level local government model. In the latter half of the year, the city aims to continue implementing key resolutions and boost GRDP growth to 10% or higher, focusing on accelerating public investment and addressing bottlenecks.