By 2045, Ho Chi Minh City will have at least 1 million active businesses.

On June 3, Ho Chi Minh City People's Committee held a meeting on the socio-economic situation in May and the first 5 months of the year; key tasks and solutions for June 2025.

View of the meeting. Photo: TTBC

According to the Ho Chi Minh City People's Committee, total retail sales of goods and consumer service revenue in May is estimated at VND 113,364 billion, up 19% over the same period. Of which, retail sales of goods are estimated at VND 51,094 billion, up 13.5%; accommodation and catering services are estimated at VND 15,062 billion, up 39.4%; travel services are estimated at VND 5,036 billion, up 59.8%. Accumulated in the first 5 months of the year is estimated at VND 544,447 billion, up 16.8% over the same period in 2024.

Regarding the city's import and export activities, export turnover in May is estimated at 4.37 billion USD, up 3.4% over the previous month. The cumulative value for the first 5 months is estimated at 20.36 billion USD, up 16.1% over the same period (same period increased by 14.2%).

For tourism , total tourism revenue in May is estimated at VND 21,448 billion, up 34.1% over the same period in 2024; cumulative revenue in 5 months is estimated at VND 97,999 billion, up 28.9%, reaching 37.7% of the 2025 plan.

International visitors to the city in May 2025 are estimated at 808,694, an increase of 105% over the same period in 2024; the cumulative number in the first 5 months is estimated at 3,123,883, an increase of 40.2%, reaching 36.8% of the 2025 plan. Domestic tourists to the city in May are estimated at 3,423,200, an increase of 10% over the same period in 2024; the cumulative number in the first 5 months is estimated at 15,081,555, an increase of 7.7%, reaching 33.5% of the 2025 plan.

Regarding investment activities, the number of newly established enterprises was 13,894. The total registered and additional capital was 313,756 billion VND, up 5.9% over the same period. The city attracted more than 1.77 billion USD of FDI capital, up 87.5%.

Total state budget revenue is estimated at over VND245.7 trillion, reaching 47.26% of the estimate, up 4.38% over the same period. Of which, domestic revenue is VND192 trillion, reaching 49.32% of the estimate, up 3.72%; revenue from import-export activities is VND53.67 trillion, reaching 41.28% of the estimate, up 6.6%.

Director of Ho Chi Minh City Department of Finance Le Thi Huynh Mai reports at the meeting. Photo: TTBC

At the meeting, Director of the Ho Chi Minh City Department of Finance Le Thi Huynh Mai presented a draft action plan to implement Resolution No. 68-NQ/TU of the Politburo on private economic development with specific goals and solutions. Accordingly, by 2030, the number of newly established enterprises will reach 700,000 or more; strive to have 35 operating enterprises/1,000 people. There will be at least 5-10 large enterprises participating in the global value chain.

Increase the rate of young people (aged 30 - 40) successfully establishing new businesses (6%); the rate of female directors, business owners and cooperatives will reach at least 30% by 2030.

The average growth rate of the private economy is about 10 - 12%/year, higher than the growth rate of the economy; contributing about 55 - 58% of GRDP; creating jobs for about 84 - 85% of the total workforce; labor productivity increases on average about 8.5 - 9.5%/year; enterprises with innovative activities reach 40-50% of the total number of enterprises...

Ho Chi Minh City also aims to have at least 1,000,000-1,200,000 businesses operating in the economy by 2045; contributing over 60% of GRDP.

To achieve the above objectives, Ho Chi Minh City promotes reform, improves and improves the quality of institutions and policies, effectively ensures and protects ownership rights, property rights, freedom of business, and the right to fair competition of the private economy and ensures the enforcement of contracts of the private economy. At the same time, it facilitates the private economy to access resources of land, capital and high-quality human resources.

The city also promotes science and technology, innovation, digital transformation, green transformation, effective and sustainable business in the private economy; strengthens connections between private enterprises, private enterprises with state-owned enterprises and FDI enterprises, etc.

Chairman of Ho Chi Minh City People's Committee Nguyen Van Duoc delivered a concluding speech at the meeting. Photo: TTBC

Concluding the meeting, Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc said that in the first 5 months of the year, the city's economy had both advantages and challenges. The advantage is that the city's economy has grown steadily since 2024, and businesses have been operating stably. The challenge comes from the export market and partly from within the city.

Chairman of the City People's Committee Nguyen Van Duoc requested the Department of Home Affairs to urgently implement the reduction of at least 30% of administrative procedures; the Department of Finance to implement focused and key solutions in creating an open environment for investment, production and business activities.

To prepare for the merger of Binh Duong and Ba Ria - Vung Tau provinces, the Chairman of the City People's Committee requested relevant agencies and units to review, adjust, and re-establish plans, striving to complete them in September, to implement them from October 2025.

The head of the city government requested all levels and sectors, especially leaders, to innovate thinking, reach high consensus on awareness and action, focus on overcoming limitations, and resolutely implement more effectively and efficiently to best complete the set goals.

Source: https://hanoimoi.vn/den-nam-2045-tp-ho-chi-minh-co-it-nhat-1-trieu-doanh-nghiep-hoat-dong-704364.html