According to the report, although Ho Chi Minh City has demonstrated dynamic economic recovery capabilities, its growth rate is slowing compared to the national average benchmark. The city's share of the national economy has also slightly declined from 26.6 percent in 2019 to 23.6 percent in 2024.
To overcome the situation, the municipal Department of Industry and Trade proposed a focus on several key tasks with new growth drivers.
Accordingly, on July 9, the city will hold a seminar titled "New Drivers of Ho Chi Minh City’s Industrial Development – From Potential to Action" in Binh Duong Ward which shall be expected to identify breakthroughs in the industrial value chain and explore the potential of technological innovation.
Besides, on July 11, another seminar themed "New Development Space for Ho Chi Minh City – Momentum from Building Supply Chains and Retail" will be held in Vung Tau Ward, featuring experts, associations, and businesses such as Saigon Co.op, Satra, Central Retail, and Aeon Mall.
Additionally, the city aims to expand the scope and scale of major initiatives, including the market stabilization program, concentrated promotional campaigns, and a project to develop Ho Chi Minh City into a major national service hub. This also includes plans to develop a network of international exhibition and convention centers.
Additionally, Ho Chi Minh City will continue supporting the development of key industries and key supported industry sectors as well as improving infrastructure and input-output systems for industrial activities. This includes the establishment of industrial clusters such as Lang Le – Bau Co, Chau Duc, Long Tan, Thanh An 1, Tan Dinh 1, Tan Dinh 2, Phu Chanh 1, Uyen Hung, and Tam Lap 1.
The city will maintain its interest rate support policy for investment projects in four major industries and supporting industries. At the same time, it will provide training, consulting, and capacity-building services for enterprises, and support Samsung Vietnam in piloting one to three smart factories.
Furthermore, the city will develop coordination regulations between the Ho Chi Minh City People's Committee and state-owned giants like Vietnam Electricity (EVN) and Vietnam National Industry - Energy Group (PVN) in the electricity and petroleum sectors.
