Prime Minister Pham Minh Chinh presided over the Government’s regular October meeting, held online with localities nationwide on the morning of November 8.
Delivering his remarks at the conference, Chairman of the Ho Chi Minh City People’s Committee Nguyen Van Duoc reported that the city’s economy in October showed continued improvement compared to September.
According to HCMC Chairman Nguyen Van Duoc, despite a very challenging context, the results achieved so far have been positive and commendable. He also indicated that Ho Chi Minh City successfully organized the first Party Congress of the Ho Chi Minh City Party Committee for the 2025–2030 term.
In the economic sector, Ho Chi Minh City has achieved many positive results. Total retail sales increased by 15 percent, and the industrial production index in October rose by 17.5 percent, contributing to the city’s overall growth over the past ten months.
Cumulative budget revenue reached VND652,509 billion (US$24.8 billion), achieving 97.2 percent of the assigned target and up 15.5 percent compared to the same period last year, with efforts to exceed 20 percent by the end of the year as directed by the Government.
Regarding foreign investment attraction, cumulative inflows reached US$7.5 billion, a 32 percent increase compared to the same period last year, with US$2 billion focused on the science and technology sector, marking very positive figures.
Regarding the resolution of difficulties, of the cases that Ho Chi Minh City committed to completing for the Prime Minister in November, seven cases under the city’s authority for re-evaluation have been completed so far, three remaining cases are still under court jurisdiction, and two cases awaiting conclusions from the Ministry of Public Security have been closed.
As for the city’s backlog of projects, 670 out of 838 projects have been resolved so far, achieving a completion rate of 80 percent.
Regarding the two-tier local government, to address the shortage of professional staff at the commune level, the city has proactively implemented several measures, such as reallocating commune staff internally, transferring officials between communes, assigning departmental staff to communes and recruiting additional non-specialized personnel. As a result, initial efforts have helped resolve some difficulties at the commune level.
As for administrative procedure reductions, Ho Chi Minh City has so far cut 435 administrative procedures related to business operations, simplified 441 procedures, and ensured that 100 percent of procedures have completed internal process publication, achieving two months ahead of schedule as directed by the Government.
Chairman of the Ho Chi Minh City People’s Committee Nguyen Van Duoc stated that the city would continue implementing the International Financial Center project in accordance with the Government’s directives, immediately following the National Assembly’s resolution and the Government’s decree.
The city has basically prepared the necessary personnel and organizational structure to be ready for operation.
The International Financial Center is expected to be officially announced and put into operation in December.
Ho Chi Minh City also plans to successfully organize the Autumn Economic Forum in the coming time; to exceed the 2025 targets set by the Central Government and the Government, emphasized HCMC Chairman Nguyen Van Duoc.
Following the report from the Ho Chi Minh City People’s Committee Chairman, Standing Deputy Prime Minister Nguyen Hoa Binh urged the city to accelerate the resolution of backlog projects. In addition, as the Government plans to issue decrees on the International Financial Center in November, Ho Chi Minh City must prepare all necessary conditions for the center’s launch.
