The session was chaired by Mr. Nguyen Van Duoc, Deputy Secretary of the HCMC Party Committee and Chairman of the HCMC People’s Committee.
Economy maintains steady growth
According to a report delivered at the meeting by Mr. Nguyen Cong Vinh, Director of the HCMC Department of Finance, total State budget revenue in the city reached VND524.23 trillion (78.1 percent of the annual target), up 15.5 percent year-on-year. Land-use fee collections alone contributed more than VND39.75 trillion, a 391 percent surge from the same period last year.
The city also recorded strong foreign direct investment (FDI) inflows exceeding US$6.8 billion, up 58 percent from 2024. Industrial production grew 6 percent over the first eight months, with four priority sectors rising 11 percent and three traditional industries expanding 10.6 percent.
Retail sales and consumer service revenue were estimated at VND166.24 trillion in August, up 15.8 percent year-on-year, bringing the eight-month total to more than VND1.2 quadrillion, up 15.6 percent. Travel services revenue in August alone surged nearly 39 percent.
Digital economy and digital society initiatives continued to advance, while diplomatic and international engagement activities were actively promoted. Security and social order remained stable.
In science and technology, the city highlighted notable research projects, including the application of positioning and livestream technology to fire and rescue operations, labor market policy studies for sustainable growth, and the development of a “smart new rural commune” model. Intellectual property (IP) initiatives were also expanded, with three training programs on IP management, consultations for 17 organizations and individuals, and technical support for 70 trademark cases.
HCMC additionally engaged with the ASEAN Carbon Credit Trading Platform (CCTPA) to develop policy incentives for businesses to participate in the carbon credit market. On the startup front, the city successfully hosted the Mega US Expo 2025: Korea–Vietnam Market Gateway, which drew 200 companies from both countries.
Driving key projects forward
Mr. Nguyen Cong Vinh stressed that from now until the end of 2025, the workload will be immense, requiring determination, coordination, and decisive action across the entire political system to meet the city’s targets.
To this end, HCMC will continue with its administrative restructuring, moving toward a streamlined two-tier local government model. The city is expediting assessments and approvals of organizational functions and staffing for restructured units and will finalize job-position schemes and personnel assignments for 2025.
At the same time, the city is pushing for 8.5 percent GRDP growth in 2025, tightening fiscal discipline, and prioritizing funding for key infrastructure projects, urgent public works, and social welfare programs. HCMC is also finalizing its proposal to the National Assembly to amend Resolution 98/2023/QH15, which will serve as a legal framework for new special mechanisms and policies.
Other priorities include accelerating major projects, disbursing public investment capital, advancing urban planning, and boosting housing and infrastructure development. The city aims to resolve long-standing project bottlenecks and maximize land-based revenue, including the auction of three land plots and 3,790 apartments in Thu Thiem New Urban Area.
In parallel, HCMC is expediting waste-to-energy plant projects to enhance sustainable waste management and protect the urban environment.
