In the first quarter, many of the city’s economic indicators boded well. GRDP grew 8.27%; total retail sales of goods and consumer service revenue increased 13%; tourism attracted over 19 million visitors; the Industrial Production Index (IIP) surged 11%; foreign direct investment (FDI) reached 2.9 billion USD; and there was a high number of newly established enterprises and registered capital.
Ho Chi Minh City has accelerated progress and resolved obstacles for 831 out of 838 projects (over 99%). Nguyen Thanh Toan, Deputy Director of the municipal Department of Finance, said, “Ho Chi Minh City has demonstrated strong political determination since the beginning of the year. Authorities at all levels have made efforts to fulfill and exceed key targets, laying a stronger foundation for sustainable development.”
With the goal of double-digit growth, the city is determined to take more decisive, innovative, and effective actions, based on the “6 clarities”: clear responsibilities, clear tasks, clear timelines, clear accountability, clear outputs, and clear authority. Efforts will be focused on resolving backlogged tasks, boosting public investment, and developing infrastructure.
Vice Chairman of the municipal People’s Committee, Nguyen Loc Ha, said the city is well on its way to achieve 11% growth in the second quarter, while improving governance, reforming the administrative apparatus, and ensuring social welfare.
“To achieve those goals, officials must change their methods, shifting from reporting achievements to delivering concrete, measurable results. The year 2026 is a year of acceleration. High pressure creates golden opportunities for Ho Chi Minh City to affirm its role as an economic locomotive and move closer to becoming a livable city with improved quality of life for its people,” Ha added.
From now until the end of the year, Ho Chi Minh City will continue to speed up public investment disbursement, site clearance, industrial production and exports. It will help businesses leverage the US tariff of 15%, diversify export markets, stimulate domestic consumption, attract FDI, develop the digital economy and innovation, and manage risks.
