After 50 years of construction and development, Ho Chi Minh City has affirmed its position and role as the economic driving force of the whole country; the nucleus of the Southern Key Economic Zone and the Southeast Region. Ho Chi Minh City has contributed more than 20% of GDP, 30% of budget revenue, 25% of industrial and commercial production value; leading in attracting FDI investment.
Aspiration for development
If calculated from 1980 to 2025, the economic scale increased about 30 times; the urban scale increased 4 times in the direction of modern civilization. The renovation of old urban areas and the development of new urban areas have changed the appearance of Ho Chi Minh City, significantly improving the quality of life of the people and moving towards a global city. However, over the past 10 years, the position and role of Ho Chi Minh City have shown signs of decline, both in terms of contribution to the economy and development model, many projects and works are stagnant, causing waste of resources.
Resolution 31-NQ/TW of the Politburo dated December 30, 2022 on the direction and tasks of developing Ho Chi Minh City to 2030, with a vision to 2045; and Decision No. 1711/QD-TTg dated December 31, 2024 of the Prime Minister approving the Ho Chi Minh City Planning for the period 2021-2030, with a vision to 2050, set out the development goals for the next 20-25 years: "Ho Chi Minh City develops on par with major cities in the world, becoming an economic, financial and service center of Asia; an attractive global destination; a distinctively developed cultural economy, people with a high quality of life; the nucleus of the Ho Chi Minh City region and the Southeast region, the growth pole of the whole country; a place to attract international financial institutions and economic groups". This is also the development aspiration of the people of Ho Chi Minh City.
Economic activities in Ho Chi Minh City must be the most “market-oriented” place in the country. The market economic model must be most clearly formed here, considering three aspects: sustainable economic growth; progress, social justice, people’s welfare and living environment. At the same time, enhance the role of the gateway for domestic economic exchange and international trade; in which the construction of Can Gio International Transit Port and International Financial Center is a breakthrough factor.
Ho Chi Minh City must take the lead in digital transformation and green economy, reducing greenhouse gas emissions towards net-zero. Implement a “dual transformation” of both the economy and social life. Digital space and creative cultural space enter the socio-economic life. Ho Chi Minh City used to be the “start-up” place for entrepreneurs nationwide, in the new era it must be the “start-up” place of the region, the destination of Asia with a global vision.
Leverage projects and works
Ho Chi Minh City will focus on quickly and effectively handling projects that have been stuck for many years due to legal issues, suspended planning without investors, and prolonged projects wasting resources... in order to absorb investment capital and create a common spread in 2025-2026.
More importantly, Ho Chi Minh City completes the regional traffic system, highways and Ring Roads 3 and 4 (under construction since 2024); completes the connection of Ring Road 2 in 2025-2026; deploys the North-South traffic axis and the Saigon River road according to the plan. Priority will be given to early implementation in 2025-2027 of gateway bottlenecks such as National Highway 13, National Highway 22, National Highway 1, National Highway 50... The internal and external road traffic system must be completed before 2030. Implement the urban railway system according to the schedule, according to Resolution 188 of the National Assembly dated February 19, 2025, with the goal of completing about 355km of urban railway by 2035; deploy the Ho Chi Minh City - Can Tho high-speed railway; study the connection plan with Can Gio and Ba Ria - Vung Tau ; urban railway connecting Thu Thiem station with Long Thanh International Airport.
Ho Chi Minh City must also focus on major projects that impact the transformation of the growth model, with the main focus on green economy, circular economy and digital economy (belonging to 4 breakthrough programs, key points of the Resolution of the 11th Congress of the Ho Chi Minh City Party Committee). Shaping a creative startup center in Thu Duc City and large data centers (DC) serving the digital economy. Focusing on removing obstacles in dozens of real estate projects that are wasting resources, projects with great influence but have been "suspended" for decades.
Carry out the conversion of functions of 5 export processing zones - industrial parks (out of 17 zones) according to the conclusion of the Standing Committee of the City Party Committee in 2025 and the following years. This is an inevitable trend that must be quickly implemented to attract new investment flows. Build the Ho Chi Minh City International Financial Center according to the content approved by the Central Government, to gradually affirm its position and role in the region and the world.
The revolution in reorganizing the management apparatus from the central to local levels is taking place under the strong direction of the Party and State leaders, opening up opportunities for Ho Chi Minh City to build an effective, efficient and effective public service; perfecting the governance model of the Ho Chi Minh City urban government in accordance with the operation of the market economy mechanism and the development trend of the times. This is the mission of the people of Ho Chi Minh City in the new era - the era of national development.
The economic growth rate in the area must be maintained at a rate 1.2 - 1.5 times higher than the national average, as achieved before. In particular, the GRDP growth rate in the 2026-2030 period will be 1.2 times higher, and the 2031-2035 period will be 1.5 times higher than the national average; that is, on average in the 2026-2035 period, Ho Chi Minh City's economy must grow by double digits (11-12%/year) annually, and maintain a stable growth rate in the next 10 years at about 9-10%/year.
Dr. TRAN DU LICH
Source: https://www.sggp.org.vn/tam-nhin-20-25-nam-toi-post793088.html
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