The statement was made by Chairman of the Ho Chi Minh City People’s Committee Nguyen Van Duoc at the Government's conference, chaired by Prime Minister Pham Minh Chinh, this morning.
At the conference, Chairman Nguyen Van Duoc expressed gratitude to the Government and ministries for their support in amending National Assembly Resolution No. 98/2023/QH15 on piloting specific mechanisms and policies for the city’s development.
The city has completed consultations with relevant ministries and agencies and is finalizing the draft to submit to the Ministry of Justice for appraisal before reporting to the Government for submission to the National Assembly. Accordingly, the city is taking strong measures to boost economic growth above 8.5 percent. support businesses, and strive to achieve the highest targets for 2025 including exceeding the assigned state budget revenue target by 25 percent.
Ho Chi Minh City proposed that the Prime Minister and Government facilitate the submission of this amendment at the upcoming 10th session of the National Assembly.
Regarding the socio-economic situation in the first nine months of 2025, the Chairman reported that the city’s GRDP grew by 7.07 percent year-on-year.
As for public investment disbursement, Ho Chi Minh City has reached over 50 percent of the plan assigned by the Prime Minister. Total social investment reached more than VND465 trillion (US$17.6 billion), up 10.3 percent compared with last year. The investment environment continued to improve, with foreign investment capital reaching US$7.73 billion, 3.5 times higher than in 2024 including more than US$2 billion in high-tech sectors.
Ho Chi Minh City’s budget revenue exceeds VND570 trillion, reaching over 84 percent of the year’s estimate.
Chairman Nguyen Van Duoc also highlighted several existing challenges the city is facing. Although the private sector continues to grow, it still encounters many difficulties, the number of dissolved enterprises has increased, while newly established ones have decreased compared to the same period last year. The restructuring and implementation of the two-tier local government model have yielded positive results overall, yet some communes and wards still show limitations, hesitation in decision-making, and a shortage of qualified staff.
To achieve the economic growth rate of over 8.5 percent as assigned by the Government, Ho Chi Minh City is determined to launch an emulation campaign to celebrate the 14th National Party Congress. The city aims to accelerate breakthroughs and successfully fulfill the goals and tasks set by the 13th Party Congress, as recently emphasized by the Prime Minister, while preparing for the upcoming Party Congress of Ho Chi Minh City.
According to Chairman Nguyen Van Duoc, the city will continue operating and improving the two-tier local government system, particularly at the commune level. Recently, delays in land management, site clearance, and construction have affected public investment disbursement and overall growth.
To address this, the city has deployed specialized working groups and seconded staff from the agriculture-environment and construction sectors to support commune-level administrations — a move that has shown positive results. Moving forward, this model will be expanded further.
At the same time, the city will take strong measures to boost economic growth, support businesses, and strive to achieve the highest possible targets for 2025 aiming for state budget revenue to exceed the assigned target by 25 percent and to reach 100 percent disbursement of public investment funds by year’s end.
