At a conference to disseminate and implement resolutions adopted at the fourth plenum of the 14th Party Central Committee, Chairman of the Ho Chi Minh City People’s Committee Nguyen Van Duoc presented key points of a draft conclusion by the Standing Committee of the city Party Committee on implementing the plenum’s conclusions regarding socioeconomic development, state budget execution in 2026, and plans for 2027. He also outlined a draft decision by the city People’s Committee setting overall objectives, targets, and key solutions for socioeconomic development and its 2027 work program.
According to Chairman of the Ho Chi Minh City People’s Committee Nguyen Van Duoc, 2026 is a particularly significant year for the city, marking the first year of implementing the Resolution of the 14th National Party Congress and the Resolution of the Ho Chi Minh City Party Congress for the 2025–2030 term. Despite numerous challenges, under the direction of the central government, close coordination among authorities and agencies, and the efforts of the entire political system, residents, and businesses, the city’s economy has achieved notable results.
The city has also candidly acknowledged persistent shortcomings, including unresolved bottlenecks in land management, planning, site clearance, and investment procedures. Disbursement of public investment funds has also lagged behind the national average. The city says greater efforts must be made in the remaining months of the year.
For 2027, the draft conclusion by the Standing Committee of the city Party Committee identifies the year as a period for a breakthrough that will build momentum for the entire term. Ho Chi Minh City aims to achieve GRDP growth of at least 10.4 percent.
This is an ambitious and challenging growth target, but it must be set if the city is to make a commensurate contribution to the country’s double-digit growth and lay the foundation for successfully implementing the Resolution of the 14th National Party Congress, Chairman of the Ho Chi Minh City People’s Committee Nguyen Van Duoc stressed.
To achieve this target, Ho Chi Minh City must make effective use of traditional growth drivers, including industry, construction, trade and services, exports, and public investment. At the same time, it must rapidly develop new growth drivers, such as the International Financial Center, free trade zones, seaports and logistics, science and technology, innovation, digital transformation, and strategic transport infrastructure, including railways and ring roads.
The draft outlines 11 key groups of tasks and solutions. At the conference, the city People’s Committee chairman highlighted several core priorities, such as striving for double-digit growth, maintaining macroeconomic stability, and strengthening the city’s role as the country’s economic engine, while proactively managing state budget revenues and expenditures.
The city will also accelerate public investment disbursement from the beginning of the year, linking it to project and construction outcomes; allocate capital based on results; and resolutely reallocate funds from projects with low disbursement rates to those performing better.
In addition, the city will continue refining decentralization and delegation mechanisms, decisively resolve long-standing stalled projects, and deal with surplus public properties. It will also create an environment that encourages officials to be dynamic and innovative and to think boldly and act decisively in the common interest.
The city will also restructure its industrial development space, focusing on high-tech and strategic industries. It will promote the private sector, improve the efficiency of the state-owned economy, and attract foreign direct investment (FDI). Ho Chi Minh City will also prioritize science and technology, innovation, and improvements in residents’ quality of life, while safeguarding national defense and security, strengthening external relations and enhancing the city’s standing.
Under the draft decision on overall objectives, targets, and key solutions for socioeconomic development, along with the 2027 work program, Ho Chi Minh City has set 76 indicators, including 38 key targets and 38 indicators for management and administration.
Key socioeconomic targets:
- GRDP growth of at least 10.4 percent, with GRDP per capita reaching US$10,561;
- Total social investment averaging about 35 percent of GRDP;
- Total factor productivity (TFP) contributing approximately 56.6 percent of GRDP;
- The digital economy accounting for 30–40 percent of GRDP;
- Total social expenditure on research and development (R&D) reaching 2–3 percent of GRDP, with at least 4–5 percent of total budget expenditure allocated to science and technology and digital transformation;
- Annual labor productivity growth of approximately 8.5 percent;
- 36 hospital beds, 19 doctors, and 32 nurses per 10,000 people;
- An additional 57,567 social housing apartments;
- Relocation and clearance of 11,813 makeshift houses and homes along canals and waterways.
