To keep Ho Chi Minh City as the economic locomotive of the country

(HTV) - Ho Chi Minh City is determined to maintain its position as an economic locomotive, promote innovation in growth models and develop a digital and high-tech economy.

With the consistent orientation of “Pioneering with the country”, Ho Chi Minh City is implementing many specific steps to affirm its role as the economic locomotive of the whole country: pioneering in science and technology, innovation, digital transformation, promoting intelligence, dynamic tradition, creativity, daring to think, daring to do – factors that have contributed significantly to the city’s development in recent times.

Ho Chi Minh City is taking many concrete steps to affirm its role as the economic locomotive of the country.

Currently, the economic scale of Ho Chi Minh City has exceeded the threshold of 100 billion USD. The city aims to become a financial - commercial - logistics - innovation center of the region. However, to realize this goal, Ho Chi Minh City needs to promote economic restructuring, innovate the growth model, create development breakthroughs commensurate with its potential, advantages and strategic position - the gateway for international exchange and integration of Vietnam.

After 15 years of operation, many businesses in the area said that the new development space of Ho Chi Minh City is opening up many opportunities for business expansion. Investing in technology and improving customer experience are key factors to help businesses proactively "take the lead" in new markets.

Mr. Tran Ngoc Thanh Trong - General Manager of Diamond Place Wedding and Convention Center (Ho Chi Minh City) said: "We have expanded our services to Binh Duong - where there are many industrial parks, and soon Ba Ria - Vung Tau. The vitality of the service sector will lead to the development of logistics, food supply and accommodation industries. Services will continue to account for a high proportion in the city's economic structure."

According to GRDP data for the first 9 months of 2025, services account for the highest proportion in the economic structure of Ho Chi Minh City with 51.6%, followed by industry - construction 35.6%, agriculture - forestry - fishery 1.7%, and other sectors 11.1%. Aiming for an average GRDP growth target of 10-11%/year in the next 5 years, the requirement is to restructure the economy for rapid and sustainable development.

Associate Professor Dr. Tran Hoang Ngan - Ho Chi Minh City National Assembly Delegation, said: “The city's economic restructuring needs to follow a high-tech direction, prioritizing science and technology, innovation and digital transformation. The city needs specific steps, from shifting the structure of labor-intensive industries to high-tech industries, investing in quality industrial park infrastructure, attracting FDI investors with technological capacity, associated with technology transfer and development of supporting industries. This is a factor that helps increase domestic value, directly contributing to the city's economy.”

Multimodal connection helps reduce logistics costs, increase competitiveness for Vietnamese goods

According to the Draft Political Report of the 13th Party Central Committee presented to the 14th Congress, the average GDP growth target for the whole country in the next 5 years is from 10% or more. In particular, Ho Chi Minh City - a locality contributing nearly 1/4 of the country's GDP and 1/3 of the total national budget revenue - sets an average GRDP growth target of 10-11%/year, of which 30-40% comes from the digital economy.

Mr. Tran Phuc Hong - Deputy General Director of TMA Technology Group, said that the current bottleneck of Ho Chi Minh City does not lie in technological capacity, but in the low rate of digital technology application in economic sectors. "The city has many strong technology enterprises, providing solutions for the international market, but the application of technology within enterprises is still limited, not creating a real transformation".

Dr. Ngo Minh Hai - Vice Principal of Ho Chi Minh City University of Economics and Finance (UEF), commented: “Ho Chi Minh City is the most dynamic center of the country, accounting for 40% of private enterprises. To achieve the growth target, the city needs to focus on three groups of solutions: First, building a creative government, removing mechanism obstacles; Second, developing infrastructure, promoting regional connectivity and logistics; Third, investing in technology infrastructure to connect directly with the international community. Combined with high-quality human resources, the city can achieve the set goals, provided that the initial state investment capital is effectively used to create social spillovers instead of relying too much on public investment.”

Ho Chi Minh City contributes 23.1% of the country's GDP - affirming its role as an economic locomotive

Prof. Dr. Huynh Van Chuong - Director of the Department of Quality Management (Ministry of Education and Training), emphasized: "Universities in Ho Chi Minh City play a key role in training high-quality human resources - a decisive factor in the city's competitiveness. In particular, it is necessary to focus on training human resources in key areas such as semiconductor industry, high technology and socio-economics, to meet the requirements of integration and development".

Ho Chi Minh City has identified 30 development targets, 3 key and breakthrough programs and 10 key task groups, aiming to become a civilized, modern urban area, a center of innovation, with a prominent position in the Southeast Asian region in the next 5 years.

Three breakthrough programs include:

• Policy and institutional development;
• Infrastructure development;
• Human resource development

Promoting the spirit of dynamism, creativity and daring to be a pioneer, Ho Chi Minh City continues to affirm its role as the economic locomotive of the whole country, actively contributing to the goal of rapid and sustainable development of Vietnam.

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Source: https://htv.com.vn/de-tp-ho-chi-minh-giu-vung-vi-the-dau-tau-kinh-te-cua-ca-nuoc-222251025161516251.htm