Ho Chi Minh City: Mobilizing All Resources for Double-Digit Growth

Ho Chi Minh City is demonstrating ambitious economic goals, setting its sights on achieving double-digit growth with a target of over 10% for its Gross Regional Domestic Product (GRDP) annually. This aggressive objective is coupled with a significant budget collection target of VND 1 million billion. As reported by Tuổi Trẻ, the city is mobilizing all resources to meet these targets, reflecting a strong commitment to economic development and prosperity.

A major catalyst for this growth is the commencement of 10 strategic infrastructure projects, collectively valued at nearly VND 520,000 billion (approximately $20 billion USD). These large-scale undertakings, including the Metro Line 2 (Ben Thanh - Thu Thiem) and the Can Gio international transshipment port, are designed to provide long-term growth momentum. The speed at which these projects have been initiated, with relevant departments working at 'rocket speed,' has been lauded by city officials, fostering confidence among investors.

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The City Party Committee Secretary has committed to General Secretary and President To Lam in the recent working session about budget collection of 1 million billion and double-digit growth rate. The City has also issued a plan, we must adhere to it to achieve it. Adjustments will be made during implementation.

Despite facing external pressures, such as instability in the Middle East which adds pressure to the city's economy, Ho Chi Minh City continues to show resilience. The first four months of 2026 saw positive recovery and growth, with retail sales and consumer services increasing by 13.2%. Foreign Direct Investment (FDI) has also seen a substantial surge, increasing by 127.1% compared to the same period last year. The city's statistics office notes that the number of newly registered businesses and FDI projects continues to lead the nation.

City officials, including Vice Chairman Hoang Nguyen Dinh, emphasize the need for continued effort and meticulous planning. While opportunities abound, challenges remain. The focus is now on ensuring effective disbursement of funds, addressing difficulties faced by businesses, and stimulating market expansion. This proactive approach underscores Ho Chi Minh City's determination to overcome obstacles and secure its position as a leading economic hub.

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The departments and agencies are working at 'rocket speed,' quickly resolving procedures in a short period to simultaneously launch these projects, thereby creating confidence for strategic investors and businesses, contributing to the city's growth this year.