Chairman Nguyen Van Duoc of the HCMC People’s Committee has tasked the Department of Finance with coordinating the compilation of a portfolio of key, large-scale investment projects to prioritize oversight and accelerate implementation, aiming to achieve a 30 percent disbursement rate of public investment capital by the end of the second quarter.
Concluding the city's monthly socio-economic review meeting, HCMC Chairman noted that the city posted several optimistic socio-economic indicators in the first five months of the year. Notably, total retail sales of goods and consumer service revenue rose 16.8 percent year-on-year; total tourism revenue surged nearly 29 percent; international tourist arrivals jumped over 40 percent; public passenger transport volume increased 10.9 percent; export turnover grew 16.1 percent; the Index of Industrial Production (IIP) rose an estimated 8.2 percent; and foreign direct investment soared by 87.5 percent. Credit growth reached 3.6 percent, the highest in the past three years.
The city also successfully co-hosted the United Nations Day of Vesak 2025. In health and education, significant progress was recorded, particularly the successful in-utero heart surgery jointly conducted by Tu Du Hospital and Children’s Hospital 1. Chairman Nguyen Van Duoc stressed that such achievements in a challenging context reflect the vitality of HCMC’s economy and reinforce investor confidence in the city.
However, he also pointed to several persisting issues, including the sluggish pace of public investment disbursement, which remains at just over 10 percent; a high number of businesses exiting the market; and the declining fiscal contribution from State-owned enterprises.
Looking ahead to June, Mr. Nguyen Van Duoc acknowledged that global and regional uncertainties show no signs of easing. Meanwhile, HCMC must complete the administrative consolidation of commune-level units, finalize reorganization plans for Ba Ria – Vung Tau, Binh Duong, and HCMC itself by August 15, and restructure administrative agencies, public service units, and specialized departments. Concurrently, the city must prepare for grassroots-level Party congresses and draft key documents for the 2025–2030 HCMC Party Congress, alongside other critical undertakings.
“This is a test of resilience—a time when the city’s entire political system must stay committed and push harder to fulfill its mandates,” HCMC Chairman Nguyen Van Duoc said, emphasizing the Party’s principle of “moving forward while adjusting along the way.” He warned that any official fearful of responsibility or failing to keep pace should make way for others and urged department heads, agencies, and local authorities to execute their duties with urgency, decisiveness, and practicality.
He called for proactive coordination, particularly among departments, with Binh Duong and Ba Ria – Vung Tau to prepare human resources, office spaces, and IT infrastructure for operating the newly consolidated administrative units.
Specifically, the Department of Finance was directed to develop a post-restructuring asset management plan, ensuring that State-owned buildings and equipment are efficiently reallocated, preventing waste and aligning with real needs. Mr. Nguyen Van Duoc emphasized that priority should be given to healthcare and education facilities in this process.
The department is also responsible for identifying major projects with significant capital requirements, assigning investment disbursement targets to each agency, locality, and project, and ensuring flexible capital reallocation when necessary. Local authorities must focus on speeding up compensation and land clearance processes to facilitate project execution—one of three major drivers of growth. He underscored that officials and agencies failing to meet targets would face accountability measures.
Chairman Nguyen Van Duoc also asked the Department of Finance to recommend policies that create an open, investment-friendly environment and streamline administrative procedures, centered around the principle that "people and businesses are at the heart of public service, and businesses are the engines of development."
Meanwhile, the Department of Construction was instructed to study and propose a pilot policy eliminating construction permit requirements for projects with clear planning. The Department of Health was told to ramp up disease prevention efforts, particularly in light of the resurgence of Covid-19.
Earlier at the meeting, the HCMC Chairman urged agencies and localities to prioritize building a streamlined two-tier local government system. This includes finalizing budget settlements, addressing audit recommendations, planning effective use of public assets and office spaces post-restructuring, and resolving debt issues involving public service companies. He called for faster land clearance and handover to investors to boost public investment, while departments were tasked with reviewing and advising on proposals to be submitted to the mid-year session of the HCMC People’s Council.
