(VOVWORLD) -Ho Chi Minh City continues to affirm its position as the nation’s economic locomotive, thanks to its substantial contribution to national GDP and its ability to lead development trends and generate strong spillover effects nationwide. Building on last year’s achievements, the city enters 2026 with higher expectations and more ambitious targets, aiming to accelerate growth while ensuring sustainability.
 Ho Chi Minh City serves as the nation’s economic locomotive. (Photo: vneconomy.vn) |
In 2025, HCMC’s GRDP was estimated at 114 billion USD, posting a growth rate of 8.3% and accounting for 23.5% of the national GDP. Per capita income reached 8,900 USD, much higher than the national average. Foreign direct investment into the city increased more than 20% against 2024, demonstrating its continued attractiveness to global capital.
Nguyen Van Duoc, Chairman of the municipal People’s Committee, said these figures prove the city’s leading role in the national economy. “Last year, the city’s economy had many bright spots. We focused on socio-economic development while implementing the new two-tier local government model,” Duoc told VOV, adding, “At the same time, the city advised that Resolution 98 have a broader scope, creating a more favorable investment environment and better serving development needs.”
 Dr. Can Van Luc is Member of the National Financial and Monetary Policy Advisory Council |
Following the recent merger, HCMC now has 25 industrial clusters and 78 industrial parks, forming a hub for R&D and production coordination across four key sectors: pharmaceuticals–rubber–plastics; food and beverage processing; electronics; and mechanical engineering. The comparative strengths of each locality have been clearly identified and targeted for focused investment.
According to Dr. Can Van Luc, a member of the National Financial and Monetary Policy Advisory Council, these advantages complement one another and will help the city sustain its growth momentum this year. “In the past, services accounted for 63% of the city’s GRDP. Now, with the inclusion of Bà Rịa–Vũng Tàu and Bình Dương, where industry contributes around 60% of GRDP and services only 23%, the expanded region balances and supports one another much more effectively,” according to Dr. Luc.
 Tran Luu Quang is Secretary of the Ho Chi Minh City Party Committee |
For 2026, Ho Chi Minh City has set targets of achieving GRDP growth of at least 10%, raising GRDP per capita to 9,800 USD, mobilizing social investment capital that averages 30% of GRDP, and increasing the digital economy’s share to 30% of GRDP.
The city also aims to rank among the top 10 of 34 provinces and cities in the Provincial Competitiveness Index (PCI) and within the top five in the Provincial Governance and Public Administration Performance Index (PAPI).
Since the beginning of the year, HCMC has been putting Resolution 98, recently approved by the National Assembly, into action through major projects. The city is also prioritizing efficient resource management, promoting the green transition, and attracting investment into sectors identified as breakthroughs for the new development era.
Truong Minh Huy Vu, Director of the municipal Institute for Development Studies, underscored the need to steer and complete tasks step by step. “The spirit of 2026 is ‘co-creation’—working together, sharing benefits, and sharing risks with strategic investors in the city’s priority fields,” Vu noted.
 Ho Chi Minh City continues to leverage port as its strengths. |
As a major center for education and training, Ho Chi Minh City is placing special emphasis on improving the quality of its human resources, with a strong focus on expanding the application of science, technology, and innovation across all sectors.
In 2026, the city must maintain high growth and improve the quality of that growth. Economic expansion must go hand in hand with sustainability, with the goal of building a creative, humane city closely connected to both domestic and international communities, said Tran Luu Quang, Secretary of the municipal Party Committee.
“Resolutions, programs, and regulations are already in place. The most important issue now is execution. In my view, the guiding principle is to act decisively right from the start of the year, creating clear changes from the very first projects and actions,” said Mr. Quang, adding, “This will inspire everyone to strive harder. We must focus on developing the city in line with its role as the locomotive and growth pole of the entire country.”
 Ho Chi Minh City remains steadfast in its goal of rapid and sustainable economic development, with science and technology and innovation serving as the primary driving forces. |
Standing at a new threshold of opportunities, missions, and challenges, Ho Chi Minh City’s continued fulfillment of its locomotive role will help stabilize the next phase of development and make a significant contribution to propelling Vietnam’s economy into 2026 with stronger and more sustainable momentum.