Ho Chi Minh City determined to achieve double-digit growth target by 2025

Ho Chi Minh City's economy in the first 4 months of 2025 achieved all set targets, the city firmly aims for economic growth this year of over 10%.

View of the meeting. Photo: Press Center

On May 8, Ho Chi Minh City People's Committee held a meeting on the socio -economic situation and results in April; tasks and solutions for May 2025.

Reporting at the meeting, Director of the Department of Finance Le Thi Huynh Mai said that in the first 4 months of the year, total retail sales of goods and consumer service revenue were estimated at VND 444,885 billion, an increase of 20% over the same period in 2024.

The next bright spot is the city's state budget revenue. Specifically, in 4 months, the total budget revenue is estimated to reach over 202,000 trillion VND, reaching more than 38.8% of the estimate, up more than 3.7% over the same period.

In 4 months, export turnover is estimated at over 16.1 billion USD, up 9% over the same period. Tourism revenue is also quite good, specifically, total tourism revenue in 4 months is estimated at 76,581 billion VND, up 27.5%; international visitors reached over 2.3 million, up 26.2%; domestic visitors reached over 11.6 million, up 7.1%.

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

Regarding the industrial production index (IIP), it is estimated to increase by 7.9% in the first four months of the year; of which the production index of four key industries (mechanics, electronics - information technology, pharmaceuticals - rubber and plastic, food processing) is estimated to increase by 7.7%, while the main traditional industries are estimated to increase by 13.6%.

Regarding domestic investment, the number of newly established enterprises in the first 4 months of the year was 10,375. In total, the total registered and additional capital was 229,394 billion VND, a slight increase of 1.7% over the same period.

Regarding foreign direct investment (FDI), in the first four months of the year, the city attracted about 1.48 billion USD, an increase of 77.7% (including through capital contribution, share purchase, and repurchase of capital contributions from domestic enterprises).

Speaking at the meeting, Dr. Truong Minh Huy Vu, Director of the Ho Chi Minh City Institute for Development Studies, said that the city's tourism revenue increased significantly, mainly in April thanks to the 50th Anniversary of the Liberation of the South, National Reunification Day and the United Nations Day of Vesak 2025.

However, Dr. Truong Minh Huy Vu also said that the disbursement of public investment capital and the investment and business environment need to be improved in the coming time. In particular, on May 4, 2025, the Politburo issued Resolution No. 68-NQ/TU on private economic development as a lever to promote the city's economic development in the new period, so it is necessary to take necessary steps to be ready to welcome the wave of investment and business.

Speaking at the meeting, Vice Chairman of Ho Chi Minh City People's Committee Vo Van Hoan said that the city's socio-economic results in the first four months of the year all achieved the set targets.

Vice Chairman of Ho Chi Minh City People's Committee Vo Van Hoan delivered a concluding speech at the meeting. Photo: Press Center

Regarding the key tasks for May 2025 and the following months, Mr. Vo Van Hoan said that the urgent task is to implement the plan to rearrange and reorganize administrative units at all levels and build a 2-level local government organization model, prepare the necessary steps to be implemented immediately after being reviewed by competent authorities, through continuing to rearrange the organizational apparatus, ensuring completion no later than June 30, 2025. At the same time, prepare the work related to the merger of Binh Duong and Ba Ria - Vung Tau provinces when instructed by competent authorities.

Regarding the task of socio-economic development, the city focuses on promoting solutions to promote growth such as focusing on removing difficulties for projects, speeding up key projects; accelerating disbursement of public investment capital, developing infrastructure, taking public investment as the leader, activating and attracting effective use of social resources; continuing to reform administration more strongly and substantially, removing difficulties for production and business activities, improving the competitiveness of the economy... firmly pursuing the target of double-digit growth of the city's gross regional domestic product (GRDP) in 2025.

Source: https://hanoimoi.vn/tp-ho-chi-minh-kien-dinh-muc-tieu-tang-truong-2-con-so-nam-2025-701587.html