He called for clear accountability, timelines, and measurable results for every assigned task.
On November 5, the Ho Chi Minh City People’s Committee held a conference to review the city’s socio-economic performance in October and the first 10 months of 2026, while outlining key tasks and solutions for November.
The conference was chaired by Nguyen Van Duoc, Chairman of the Ho Chi Minh City People’s Committee, and Nguyen Loc Ha, Standing Vice Chairman of the municipal People’s Committee.
Stepping up investment and stimulating consumer demand
At the conference, leaders of municipal departments and agencies focused their discussions on solutions to be implemented during the final two months of 2026.
Director of the Ho Chi Minh City Department of Finance, Hoang Vu Thanh, said that alongside accelerating public investment disbursement, the city was also focusing on speeding up the disbursement of private investment to ensure the fulfillment of its overall social investment capital target. The department had worked with high-tech parks and export processing zones and reviewed projects with investment capital exceeding US$100 million.
Regarding public investment disbursement, Vice Chairman of the Ho Chi Minh City People’s Committee, Hoang Nguyen Dinh, said the disbursement rate among localities had reached 78 percent, gradually catching up with the citywide pace. However, 20 localities still recorded disbursement rates below 50 percent.
He called on local authorities to accelerate disbursement while coordinating capital allocations and proposing medium-term investment projects to support local economic development. These proposals must be consolidated in time for submission to the Ho Chi Minh City People’s Council at its year-end 2026 session.
To help achieve the city’s target of collecting more than VND1 quadrillion (US$39 billion) in budget revenue, the Ho Chi Minh City Department of Agriculture and Environment will focus on expediting the determination, appraisal, and approval of specific land prices, prioritizing dossiers likely to generate financial obligations in the near term.
Regarding land auctions in Thu Thiem, four land lots have been approved for auction, with a combined starting price of more than VND16 trillion. Plans to auction 3,790 apartments and five land lots, designated R1 through R5, have also been approved, with a combined starting price of more than VND18.2 trillion. The city plans to hold two auction rounds on November 27 and December 10.
Meanwhile, the city's industry and trade sector is stepping up its concentrated promotional campaign, scheduled to begin on November 11, to increase service revenue by 20 percent and e-commerce revenue by 50–60 percent.
Vice Chairman of the Ho Chi Minh City People’s Committee, Truong Minh Huy Vu, said the city would launch its year-end 2026 and Lunar New Year 2027 consumer stimulus program, titled Vibrant HCMC, under a “five-in-one” model. The program aims to contribute approximately 0.3–0.4 percent to the city's overall growth in the final months of the year.
The initiative will integrate shopping, tourism, and entertainment activities with e-commerce and digital payments. Accordingly, the city will connect offline and online activities, ensuring that in-store promotional campaigns and events are linked to e-commerce platforms, banks, and credit programs. This approach is intended to encourage consumers who primarily shop online to attend events in person, enjoy experiences, and use services directly.
The city is expected to organize more than 60 events, including approximately 35 events and activities in November and December, with the program continuing in the following months.
Technology companies and banks will also participate in the initiative. According to Truong Minh Huy Vu, banks have committed to joining consumer stimulus packages with a combined value of more than VND10 trillion.
Reallocating capital from delayed projects
In his concluding remarks at the conference, Chairman of the Ho Chi Minh City People’s Committee Nguyen Van Duoc stressed that the final two months of the year represented a decisive sprint towards meeting the city’s 2026 socio-economic development targets. He called on municipal departments, agencies, and local authorities to translate growth targets into specific performance indicators and tasks for each sector.
To achieve a GRDP growth rate of 13.23 percent in the fourth quarter, the city has set growth targets of 14.14 percent for the processing and manufacturing industry, 11.74 percent for trade, 17.11 percent for construction, 19.14 percent for transportation and warehousing, 9.99 percent for real estate business, and 10.28 percent for accommodation and food services, among other sectors.
Chairman of the Ho Chi Minh City People’s Committee Nguyen Van Duoc assigned relevant departments and agencies responsibility for monitoring and driving the performance indicators in their respective areas. Tax, customs, and other relevant agencies were instructed to focus on implementing measures to achieve the city’s budget revenue target of more than VND1 quadrillion.
Regarding public investment disbursement, the chairman said the city still had approximately VND29.3 trillion to disburse during the remainder of the year, requiring an average of nearly VND15 trillion per month. This was a substantial undertaking that called for a thorough review of each project’s progress and a clear assessment of its implementation capacity to ensure appropriate capital allocation and management.
He called for decisive action to reallocate capital from projects with slow disbursement rates and little prospect of implementation to those making excellent progress and capable of absorbing and disbursing additional funds. Capital management must reflect actual implementation conditions, he stressed, ensuring that resources do not remain idle while viable projects face funding shortages.
He also underscored the need to accelerate the disbursement of foreign direct investment (FDI) and domestic private investment. Relevant agencies were asked to review each project and determine the volume of investment that could realistically be implemented in the fourth quarter so that obstacles could be addressed promptly and capital injected into the economy without delay.
The chairman also called for faster implementation of the “five-in-one” consumer stimulus program and closer coordination among the industry and trade, tourism, culture, and sports sectors.
He said commercial and tourism programs, as well as cultural and sporting events, should be integrated into high-impact activities capable of attracting residents and visitors, thereby stimulating consumption and boosting growth in the services sector.
The city has numerous cultural and artistic events capable of attracting large audiences, but they need to be organized and promoted in a more coordinated manner, particularly during the final months of the year, Mr. Nguyen Van Duoc stressed.
Regarding the nationwide health check-up program, the chairman called on the health sector to work closely with the Ho Chi Minh City Police, the Ho Chi Minh City Federation of Labour, and local authorities to develop an accelerated implementation plan for the final two months of the year.
Particular attention should be paid to arranging health check-ups for factory workers and employees, who continue to face significant barriers to accessing the program. He urged all relevant agencies to make every effort to raise the proportion of residents receiving health check-ups to the highest possible level.
On the implementation of the Law on Urban Development, Chairman of the Ho Chi Minh City People’s Committee Nguyen Van Duoc noted that preparations for several related legal documents were behind schedule. He instructed directors of departments and agencies to prioritize the completion of resolutions and decisions under their respective responsibilities, ensuring that they meet the prescribed deadlines. Vice Chairman of the Ho Chi Minh City People’s Committee Nguyen Manh Cuong was assigned to directly monitor and oversee this work.
