Ho Chi Minh City submits special urban law draft in August

Ho Chi Minh City's economy showed strong growth in the first half of 2026, with its Gross Regional Domestic Product (GRDP) reaching approximately 1.55 quadrillion Vietnamese dong, an increase of 8.55% compared to the same period last year. This growth rate surpassed the national average, though it did not meet the city's target of "double-digit" growth. Industrial production also saw a significant rise of 11.1%, and foreign direct investment (FDI) surged by 89% to over $7.5 billion.

Despite these achievements, the city's budget revenue reached over 477 trillion dong, representing 59.4% of the annual projection. Public investment disbursement stood at about 51.6 trillion dong, or 35% of the plan. Numerous strategic infrastructure projects, with a total investment of around 520 trillion dong, were initiated or are underway, aiming to expand development opportunities.

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This is a very valuable figure, higher than the national average. The quality of growth has changed in a more substantial direction, more aligned with reality.

City Party Secretary Tran Luu Quang highlighted the unprecedented results, particularly the GRDP growth. He noted that the city's governance has become more efficient, with new approaches and smoother operations. For the second half of the year, Quang emphasized the need to address institutional, investment, land, planning, and financial bottlenecks. He also called for continued decentralization, coupled with robust oversight and accountability.

A critical task for the city is the finalization of the special urban law, which must be submitted to the National Assembly for review and approval in August 2026. Quang stressed the importance of preparing all necessary steps for immediate implementation upon the law's passage. The city will also focus on supporting businesses, resolving project issues, and prioritizing economic growth to achieve the "double-digit" target, with a particular focus on tourism development.

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From now on, we must prepare the stages, steps, and instructions for immediate implementation after the law is passed by the National Assembly.