After overcoming internal challenges and navigating external fluctuations, Ho Chi Minh City achieved a growth rate of 7.17% in 2024, falling short of the initial target of 7.5-8%. Nonetheless, this achievement reflects the relentless efforts of the city’s Party, government, and residents.
Solid Foundation for 2025
According to Chairman Phan Van Mai, 2024 was a crucial foundation-building year for Ho Chi Minh City to achieve breakthrough growth in 2025. He emphasized that unity among the government, citizens, and businesses will be key to achieving double-digit growth targets for next year.
Ho Chi Minh City aims for at least 10% growth in 2025 to maintain its role as the economic powerhouse of the nation. To achieve this, the city focuses on two main areas: restructuring traditional industries and developing new drivers like digital and green economies.
Traditional Drivers and Innovation
High-quality services, exports, and industrial production continue to play a pivotal role in Ho Chi Minh City’s economy. Additionally, the city is promoting green and sustainable technologies to help businesses meet stringent international standards.
Green economy and exports are vital for the city’s growth.
Leveraging Resources from Multiple Channels
To fund major projects in the 2030 master plan, Ho Chi Minh City needs approximately 4.4 trillion VND. Public investment accounts for 25%, with the remainder coming from social resources. The city is exploring new policies, particularly under Resolution 98, to effectively mobilize capital from land, municipal bonds, and remittances.
Ho Chi Minh City efficiently leverages diverse funding sources.
Strengthening Administrative Reform and Digital Transformation
Resolution 98 and special policies have yielded positive results in decentralization, resolving business and project bottlenecks. Notably, Thu Duc City has demonstrated success with its unique mechanisms.
Thu Duc City exemplifies innovative urban management.
In science and technology, Ho Chi Minh City prioritizes digital transformation. By the end of 2025, the city aims to handle 80% of administrative procedures online and support small and medium enterprises in their digital transition.
Message: “Unity – Solidarity – Breakthrough – Success”
Looking ahead, Chairman Phan Van Mai sends a strong message to citizens and businesses: “We need to unite and work together to enter a new era.” With thorough preparations in infrastructure, resources, and policies, Ho Chi Minh City is confident it can achieve its 10% growth target and lay a solid foundation for 2026-2030.
Ho Chi Minh City commits to creating better living and working environments for its residents.
Conclusion
2025 is a critical year for Ho Chi Minh City to affirm its position as the leading economic hub of the country. With a clear strategy, determination, and a spirit of unity, the city will overcome challenges to achieve its goals. Let’s follow and support Ho Chi Minh City’s journey in the coming year!
References:
- dantri.com.vn
- Interview report with Chairman Phan Van Mai of Ho Chi Minh City
