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(Ho Chi Minh City, Vietnam, 28th) — According to reports from the Vietnam News Agency, the Ho Chi Minh City People's Committee has set an economic growth target of over 8.5% for 2025, with the second half expected to reach 10.3%, laying a solid foundation for achieving double-digit economic growth from 2026 to 2030.
To achieve this target, the city government has instructed all departments and units to mobilize and channel about VND 780 trillion in total social investment funds, aiming to boost the total social retail sales and service revenue by 19.2%, increase exports by 24.3%, and strive to welcome 8.5 to 10 million international tourists and 45 million domestic tourists, with total tourism revenue reaching between VND 260 trillion and 290 trillion.
The city government emphasized that it will continue to effectively and simultaneously implement the 'Resolutions' and 'Conclusions' of the Central Committee and the Municipal Party Committee, fully leverage the effectiveness of new mechanisms and policies, promptly remove obstacles, ensure efficient operation of the two-level local governments, promote administrative reforms, and build a team of cadres who are close to the people and solve problems at the grassroots level.
According to the plan, all departments must reduce the time spent on administrative procedures, operating costs, and unnecessary market entry requirements by at least 30%, continuously improve the investment and business environment, accelerate investment approval, and encourage investment from all economic sectors.
The city government also stressed mobilizing investment from the entire society, promoting the disbursement of public investment funds, guiding and attracting private capital and foreign investment through public investment, and striving for 100% disbursement of the national budget investment funds for 2025.
In addition, Ho Chi Minh City will focus on developing high value-added service industries, promoting exports, trade, and tourism. It will also drive technological innovation, digital transformation, and the development of high-quality human resources, encourage the establishment of science and technology funds, venture capital funds, and innovation start-ups, and implement public-private partnership models.
Meanwhile, the city government will accelerate national digital governance, develop digital government, digital economy, digital society, and digital citizenship, implement a data governance strategy, and improve the administrative procedures information system to better meet the needs of the public and enterprises, as well as expand the coverage of 5G base stations.
In response to U.S. tariff policies, the city government has required departments to actively coordinate with ministries and commissions, propose policies and measures to support affected parties in enhancing competitiveness, promote the construction of traceability systems, and actively participate in regional and global supply and value chains.
The city government emphasized that it will continue to effectively and simultaneously implement the 'Resolutions' and 'Conclusions' of the Central Committee and the Municipal Party Committee, fully leverage the effectiveness of new mechanisms and policies, promptly remove obstacles, ensure efficient operation of the two-level local governments, promote administrative reforms, and build a team of cadres who are close to the people and solve problems at the grassroots level.
According to the plan, all departments must reduce the time spent on administrative procedures, operating costs, and unnecessary market entry requirements by at least 30%, continuously improve the investment and business environment, accelerate investment approval, and encourage investment from all economic sectors.
The city government also stressed mobilizing investment from the entire society, promoting the disbursement of public investment funds, guiding and attracting private capital and foreign investment through public investment, and striving for 100% disbursement of the national budget investment funds for 2025.
In addition, Ho Chi Minh City will focus on developing high value-added service industries, promoting exports, trade, and tourism. It will also drive technological innovation, digital transformation, and the development of high-quality human resources, encourage the establishment of science and technology funds, venture capital funds, and innovation start-ups, and implement public-private partnership models.
Meanwhile, the city government will accelerate national digital governance, develop digital government, digital economy, digital society, and digital citizenship, implement a data governance strategy, and improve the administrative procedures information system to better meet the needs of the public and enterprises, as well as expand the coverage of 5G base stations.
In response to U.S. tariff policies, the city government has required departments to actively coordinate with ministries and commissions, propose policies and measures to support affected parties in enhancing competitiveness, promote the construction of traceability systems, and actively participate in regional and global supply and value chains.