Ho Chi Minh City disburses 80 percent of public investment funds in ten months

Ho Chi Minh City attracted approximately US$19.1 billion in foreign direct investment (FDI) in the first ten months of 2026, while retail sales and consumer service revenue exceeded VND1.67 quadrillion (US$66.8 billion), as the city maintained positive economic momentum and accelerated efforts to meet its full-year growth targets.

The figures were reported at a meeting held by the municipal People's Committee on the afternoon of November 5 to review economic and social performance in October and the first ten months of the year and outline key priorities for November.

The meeting was chaired by Mr. Nguyen Van Duoc, Chairman of the Ho Chi Minh City People's Committee, and Mr. Nguyen Loc Ha, Permanent Vice Chairman, with other city leaders and officials in attendance.

Opening the meeting, Mr. Nguyen Van Duoc said the remaining months of the year would bring considerable challenges, particularly in achieving economic growth targets, boosting state budget revenue and completing regulatory documents needed to implement the Law on Urban Development.

Public investment disbursement reached 80.1 percent of the annual plan, ranking eighth nationwide and marking the highest level in several years. However, the amount of capital still awaiting disbursement remained substantial, while private investment disbursement continued to lag.

Mr. Nguyen Van Duoc called on department heads and local authorities to propose concrete measures to ensure the city achieves its full-year economic growth target of 10.2 percent, with particular emphasis on accelerating both public and private investment.

He also urged officials to identify solutions to raise State budget revenue to VND1 quadrillion, complete the city's free health screening program for all residents and finalize regulatory documents implementing the Law on Urban Development.

Mr. Hoang Vu Thanh, Director of the municipal Department of Finance, said the city's economy had maintained a positive growth trajectory over the 10-month period, broadly in line with its planned scenario, with several key indicators posting strong gains.

Industrial production rose 11 percent year on year, led by the processing and manufacturing sector, which expanded 11.4 percent. Retail sales of goods and consumer service revenue were estimated at more than VND1.67 quadrillion, up 14.7 percent.

The tourism sector generated more than VND307 trillion in revenue, a 37.7 percent increase, as the city welcomed over 9.3 million international visitors, up 36.9 percent. Exports reached US$84.8 billion, rising 10.9 percent from a year earlier.

State budget revenue totaled nearly VND762 trillion, equivalent to 94.8 percent of the annual target and up 16 percent year on year.

FDI inflows surged 315.9 percent to approximately US$19.1 billion, placing Ho Chi Minh City at the top of the country's localities in attracting foreign investment.

The city also recorded 45,767 newly established businesses and resolved obstacles affecting 361 of 921 long-delayed projects.

Despite these gains, Mr. Hoang Vu Thanh warned that considerable pressure remained to achieve the city's major economic and social targets for 2026. Businesses faced mounting cost pressures and weakening purchasing power, while the number of companies completing dissolution procedures jumped 177.1 percent.

Land compensation and site clearance continued to hinder several projects, with only 32.1 percent of required land handed over. Disbursement of funding for science, technology and digital transformation also remained sluggish.

Several social and environmental indicators were behind schedule. Only approximately 54 percent of residents had received health checkups, while the proportion of household waste treated using new technologies was estimated at 38 percent.