HCMC’s economy continues to promote endogenous capacity role

The Ho Chi Minh City Party Committee has a working session summarizing the number of theoretical and practical issues on the path towards socialism in Vietnam over the past 40 years.
A corner of Ho Chi Minh City

A corner of Ho Chi Minh City

Head of the Party Central Committee's Economic Commission Tran Tuan Anh and Secretary of the HCMC Party Committee Nguyen Van Nen co-chaired the working session on November 6.

The working session focuses on summarizing the socialist-oriented economic development.

Ho Chi Minh City is responsible for reporting seven out of eight summarized contents of the Central Steering Committee for reviewing the number of theoretical and practical issues on the path towards socialism in Vietnam over the past 40 years

Pursuant to the brief report, Ho Chi Minh City has achieved key results in economic development towards industrialization and modernization.

Besides, Ho Chi Minh City's economy continues to promote the role of endogenous capacity for the regions with a high proportion of domestic investment capital as well as foreign direct investment capital.

The HCMC economic sectors have developed in both quality and quantity with the increasing scale, especially private sectors and FDI ones.

By 2022, the gross regional domestic product (GRDP) of Ho Chi Minh City increased 2.9 times over 2010.

In the coming time, Ho Chi Minh City's economy will pay attention to important development directions in various fields, comprising high-tech agriculture, clean agriculture and urban agriculture.

The city will focus on industrial development towards high-tech industry and high-tech applied industry, green industry, green energy in association with regional linkages.

Besides, it is important to develop the research, development and innovation centers and support industrial products to join the global supply chains.

Ho Chi Minh City sets to become a major service center of the country and the region with high-end and modern service industries, including international financial center, trade, logistics, specialized healthcare, education and training, science and technology, research and development and innovation.

In addition, the marine economic development would become an important sector of Ho Chi Minh City's economy associated with the Southeastern region and the Mekong Delta region and so on.

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