Ho Chi Minh City aims to become an international city, Secretary Tran Luu Quang points out major challenges

The Secretary of the Ho Chi Minh City Party Committee pointed out many challenges of the megacity such as management pressure with a large population size, and a lack of financial resources and infrastructure.

Within the framework of the Autumn Economic Forum 2025 organized by the Ho Chi Minh City People's Committee, on the afternoon of November 25, at the CEO 500 - TEA Connect program with the theme "Ho Chi Minh City - towards an international megacity in the digital age", Secretary of the City Party Committee Tran Luu Quang affirmed that Ho Chi Minh City has always been identified as the economic locomotive of the whole country, representing the key economic region of the South.

Prime Minister Pham Minh Chinh attends a dialogue with 500 global CEOs on the development of the megacity of Ho Chi Minh City. (Photo: Hang Viet)

From July 2025, the new Ho Chi Minh City with a population of more than 14 million people and GDP accounting for more than 25% of the country. Ho Chi Minh City is not only an important growth pole of the country but also plays a role in connecting regions and other dynamic cities in the country and in the region.

The city is not developing in the old way but is restructuring its development space, shaping a new development strategy with the motto of decisive action and daring to be a pioneer.

The city will focus on five strategic areas, including: high-tech industry and innovation; digital technology and big data; airport and international financial center development; tourism and cultural industry; education - health - science and technology. These are pillars capable of creating sustainable growth momentum, enhancing competitiveness and turning Ho Chi Minh City into an international-class urban area.

Mr. Tran Luu Quang, Secretary of the Ho Chi Minh City Party Committee. (Photo: Hang Viet)

However, the city is also facing many challenges with issues that need to be fundamentally resolved. These include the administrative pressure of a large metropolis with a large population; the shortage of financial resources, infrastructure, and high-quality human resources; the logistics and transportation system is in the process of being completed as well as the urgent need to improve the quality of public services, improve administrative procedures and enhance digital services, and increasingly fierce competition.

Ho Chi Minh City must be more determined and stronger in promoting internal resources, enhancing cooperation, attracting increasingly needed experts, deeply connecting the global knowledge base and the business community in the digital age.

Committed to accompanying businesses

According to Mr. Quang, in the context that Ho Chi Minh City is focusing on building an International Financial Center, the top priority is to create the most favorable conditions and attractive incentives for investors. The formation of a modern, transparent and integrated financial center will expand opportunities to access the capital market and high-quality financial services, thereby helping investors feel secure in implementing projects and expanding operations in the city.

"In the spirit of listening, courageous action and responsible response, Ho Chi Minh City appreciates the shared initiatives, seriously accepts them on improving the business investment environment, enhancing governance capacity, removing bottlenecks and commits to accompanying businesses in effectively implementing the initiatives proposed at the forum," Mr. Quang affirmed.

According to the Secretary of the Ho Chi Minh City Party Committee, the issuance of Resolution No. 68 on private economic development has important significance, affirming that the private economy is an important driving force of Vietnam's market economy, of which Ho Chi Minh City is a component.

In addition, emerging technology waves are fundamentally changing production and management methods. This is an opportunity for Ho Chi Minh City to restructure its industry towards green, smart, high added value. At the same time, it requires businesses to improve productivity, sustainability and competitiveness, striving to contribute to achieving the dual transformation goal for the City and the Country.

"A megacity cannot grow by government efforts alone, but requires close coordination with domestic and foreign stakeholders, including the role of businesses and multinational corporations operating and investing in the city," said Secretary Tran Luu Quang.

HANG NGUYEN - DAI VIET

Source: https://vtcnews.vn/tp-hcm-huong-den-do-thi-quoc-te-bi-thu-tran-luu-quang-neu-nhung-thach-thuc-lon-ar989370.html