Ho Chi Minh City: Economy grows well, continues to stabilize commune-level government

Ho Chi Minh City’s key economic indicators have all grown well in the first eight months of the year. The city’s economy is on the path of recovery and stable growth. However, it is necessary to continue stabilizing the operations of the two-level local government.

On the afternoon of September 9, the People's Committee of Ho Chi Minh City held a conference on the city's socio -economic situation in August and the first 8 months of 2025; key tasks and solutions for September 2025.

Meeting scene. Photo: LN

The economy is growing well.

Reporting at the meeting, Mr. Nguyen Cong Vinh, Director of the Ho Chi Minh City Department of Finance, said that the total retail sales of goods and consumer service revenue in August 2025 is estimated at VND 166,243 billion, up 15.8% over the same period. Of which, retail sales of goods are estimated at VND 84,838 billion, up 17.3% over the same period.

In the first 8 months of 2025, total retail sales of goods and consumer service revenue is estimated at VND 1,238,770 billion, an increase of 15.6% over the same period in 2024.

This growth rate is considered positive, contributing to strengthening the belief that the city will achieve GRDP growth of 8.5% or more for the whole year of 2025.

Export turnover in August is estimated at 8.17 billion USD, up 4.7% over the previous month; the cumulative 8-month figure is estimated at 61.21 billion USD, up 6.35% over the same period. Import turnover in August is estimated at 8.93 billion USD, up 4.32% over the previous month; the cumulative 8-month figure is estimated at 65.67 billion USD, up 9.03% over the same period in 2024.

Businesses are boosting imports to meet domestic production and consumption needs.

Director of Ho Chi Minh City Department of Finance Nguyen Cong Vinh reports at the meeting. Photo: LN

One of the notable bright spots is tourism . Total tourism revenue in August 2025 is estimated at VND 21,582 billion, up 40.4% over the same period in 2024; cumulative revenue in the first 8 months of 2025 is estimated at VND 161,887 billion, up 31.2% over the same period in 2024, reaching 62.3% of the 2025 plan.

International visitors continue to choose Ho Chi Minh City as one of the top destinations, through growth figures. Specifically, international visitors to the city in August 2025 are estimated at 609,615 arrivals, an increase of 65.1% over the same period in 2024; the cumulative number in the first 8 months of 2025 is estimated at 5,162,079 arrivals, an increase of 49.9% over the same period in 2024, reaching 60.7% of the 2025 plan.

Regarding domestic investment, the number of newly established enterprises was 35,446 (down 13.9% over the same period). However, the registered capital increased by 517,494 billion VND (up 81.9% over the same period). In total, the total registered and additional capital was 733,509 billion VND, up 18.8% over the same period.

Regarding foreign investment, in the past 8 months, including capital attracted in the form of investment registration certificates and capital attracted through capital contributions, share purchases, and capital repurchases of domestic enterprises, the city has attracted about 6.89 billion USD, an increase of 58% over the same period in 2024.

Regarding budget revenue, the total state budget revenue in the city reached 524,234 billion VND, reaching 78.1% of the central government's estimate and increasing 15.5% over the same period.

Continue to stabilize two-level local government

However, there are still many problems related to the activities of 168 communes, wards and special zones. Speaking at the meeting, Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc said that after nearly 1.5 months of consolidation, officials working in 19/168 wards, communes and special zones have not yet received their salaries. Mr. Nguyen Van Duoc requested competent authorities to pay attention to this issue.

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

In addition, the allocation of staff is uneven, with both shortages and surpluses, and a lack of specialized staff in land, construction, environment, project management, finance, etc. This causes some procedural documents to be delayed.

Regarding the disbursement of public investment capital, Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc said that the disbursement rate has stagnated and has not met expectations. The head of the city government cited that the disbursement rate of public investment capital in the first 6 months of the year reached more than 43%. However, after 2 months (as of August 29), the disbursement rate reached 43.3%, with no significant growth.

Mr. Nguyen Van Duoc cited that Road 22 (in Cu Chi commune) was built by the city with public investment capital but still stands still, not "moving".

Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc requested that any section that needs to consolidate procedures must be urgently resolved, any section that meets the conditions for construction must be disbursed to start construction immediately, and any section that needs planning adjustment must be adjusted. The responsible officer must be flexible and not rigid.

Ho Chi Minh City's economy is on a good growth path, creating confidence for the 2025 growth target of more than 8.5%. Photo: Nguyen Le

Concluding the meeting, the Chairman of the Ho Chi Minh City People's Committee said that, in addition to the bright spots in economic growth indicators, up to now, the city has removed obstacles for 266/838 projects, with a total land area of ​​about more than 2,052 hectares, clearing the flow of investment capital for both public and private sectors.

Regarding the key tasks in the coming time, Mr. Nguyen Van Duoc suggested that it is necessary to continue stabilizing the apparatus and effectively implementing two-level local government, focusing on both software and people; speeding up progress to complete investment in equipment for localities.

The city will prioritize promoting solutions to promote growth; proactively and flexibly respond to emerging issues with timely and effective policies, and firmly achieve the GRDP growth target of 8.5% or more in 2025.

The head of the city government requested that all levels and sectors, especially the leaders, need to be determined and resolute, with assigned functions and tasks, to advise the city to have effective solutions, ensuring economic growth in the third and fourth quarters of 2025 of more than 10%.

Source: https://hanoimoi.vn/tp-ho-chi-minh-kinh-te-tang-truong-kha-tiep-tuc-on-dinh-chinh-quyen-cap-xa-715567.html