Ho Chi Minh City's economy continues to grow strongly

Session view

Many high growth indicators

According to Director of the Ho Chi Minh City Department of Finance Le Thi Huynh Mai, the city's socio -economic situation in April and the first four months of the year continued to achieve many positive results. In the first four months of the year, all indicators achieved quite high growth compared to the same period.

Specifically, in April, total tourism revenue is estimated at VND 19,919 billion, up nearly 30% over the same period in 2024. Total retail sales of goods and consumer service revenue is estimated at VND 128,886 billion, up 37.6% over the same period. The cumulative figure for the first 4 months of the year is estimated at VND 444,885 billion, up 20% over the same period.

Director of the Department of Finance Le Thi Huynh Mai reported

The City's 2024 Public Administration Reform Index (PAR Index) rose to 21st place, up 12 places from the previous year. This achievement is a clear demonstration of the city's determination to reform and build a modern administration, creating momentum for socio-economic development and improving the quality of service to the city's people and businesses.

During the month, economic sectors in Ho Chi Minh City attracted and created jobs for 27,633 people. Of which, 12,350 were newly created jobs. In the field of foreign labor, the city granted work permits to 1,720 cases...

In addition, there are some difficulties, such as the unpredictable fluctuations of international trade and the US's reciprocal tax policy, some city enterprises with major export markets in the US have been impacted and affected to a certain extent in implementing production and business plans. Since the beginning of the year, the additional registered capital of enterprises has increased sharply (reaching more than 167,000 billion VND, up nearly 74%), but the number of newly established enterprises has decreased by 34.6% and the registered capital has decreased by 52.3%. Disbursement of public investment capital is 7.2% of the total capital of the year, not reaching the plan...

Director of Department of Construction Tran Hoang Quan discussed at the meeting

The Ho Chi Minh City People's Committee has deployed many tasks and solutions in the coming time to promote private economic development; implement plans to rearrange and reorganize administrative units at all levels and build a two-level local government organization model.

The city also prioritizes promoting solutions to promote growth; firmly pursuing the GRDP growth target of the year. In particular, the city focuses on removing difficulties for projects, accelerating key projects; accelerating disbursement of public investment capital, taking public investment as the leading factor, activating and attracting effective use of social resources; reforming administration more strongly and substantially...

Private economy is the lever for growth

Director of the Ho Chi Minh City Institute for Development Studies Truong Minh Huy Vu commented that the socio-economic situation in April had many positive results, especially tourism revenue, thanks to the celebration of the 50th anniversary of the Liberation of the South, National Reunification and the United Nations Vesak Day 2025.

Dr. Truong Minh Huy Vu expressed his opinion at the meeting.

However, Dr. Truong Minh Huy Vu suggested that it is necessary to continue to carefully analyze related issues to speed up the disbursement of public investment capital and improve the investment environment. In the context of Ho Chi Minh City and the provinces of Binh Duong and Ba Ria - Vung Tau preparing to merge, Ho Chi Minh City needs to prepare carefully to welcome the wave of investment and business. In particular, it is necessary to focus on public investment to lead, at the same time improve the investment environment, concretize the implementation of Resolution 57 of the Politburo on breakthroughs in science and technology development, innovation and national digital transformation into specific projects...

Dr. Truong Minh Huy Vu also suggested that Ho Chi Minh City should take the lead in building strong programs and initiatives to develop the private economy. This is a lever to promote Ho Chi Minh City's economic development in the coming period.

In April, Ho Chi Minh City successfully coordinated to organize the 50th Anniversary of the Liberation of the South and National Reunification Day, with many meaningful activities. The results have significantly contributed to the widespread dissemination of the value and great stature of the Great Victory of Spring 1975; the role and wise leadership of the Party on the military, political, diplomatic fronts... Highlighting the achievements in the cause of building and defending the Fatherland, especially the achievements in socio-economic development, maintaining national security and defense and expanding foreign relations in nearly 40 years of national renovation, 50 years of construction and growth of Ho Chi Minh City.

Ngo Binh

Source: https://www.sggp.org.vn/kinh-te-tphcm-tiep-tuc-tang-truong-cao-post794252.html