In the first quarter of 2026, Ho Chi Minh City recorded robust growth, with GRDP rising 8.27 percent, marking its strongest performance since 2020.
The figures were presented at the Government’s regular March meeting and a nationwide online conference held on the morning of April 4, chaired by Prime Minister Pham Minh Chinh, to review socio-economic performance in the first quarter of the year and outline key tasks for the coming months.
Reporting at the meeting, Vice Chairman of the municipal People’s Committee Nguyen Cong Vinh highlighted that the city has effectively implemented key resolutions of the Party, National Assembly, and Government. Notably, updated policies under Resolution 260/2025/QH15, amending mechanisms for Ho Chi Minh City’s development, have gradually opened up new growth space and momentum.
From the beginning of the year, the city has proactively introduced action plans and programs to support double-digit growth, improve the business environment, accelerate infrastructure development, and enhance services for both enterprises and residents. Growth targets have been assigned to each agency and monitored monthly.
In the first quarter, key economic indicators showed strong improvement. Retail sales and consumer service revenue rose 13.7 percent, while international tourist arrivals reached 3.9 million and domestic visitors totaled 15.4 million. Industrial production increased 11 percent.
State budget revenue reached VND242.8 trillion (US$9.2 billion), up 17.5 percent year-on-year, fulfilling 30.2 percent of the annual target. Foreign direct investment (FDI) inflows surged to nearly US$2.9 billion, marking a 219 percent increase compared to the same period last year.
The city recorded 12,545 newly established enterprises, up 47 percent, with total newly registered and additional capital reaching VND253 trillion (US$9.6 billion), an increase of 29.53 percent.
Ho Chi Minh City has also accelerated the review and promotion of major projects in transport infrastructure, urban technology, and seaports, with total planned investment exceeding US$20 billion.
Looking ahead, the city will continue implementing key central government directives while proposing stronger, breakthrough policies to support rapid and sustainable growth.
For the second quarter of the year, Ho Chi Minh City targets GRDP growth of over 11 percent, aiming for annual growth above 10 percent. It plans to leverage Resolution 260 to mobilize land and social resources, expand public-private partnerships, and enhance investment efficiency and competitiveness.
New growth drivers will include the international financial center, seaport systems, free trade zones, and high-tech sectors such as semiconductors, data centers and artificial intelligence.
The city will also step up administrative reforms, streamline procedures, and cut processing times by at least 30 percent, improving services for businesses and citizens.
Key priorities include accelerating strategic infrastructure projects, expanding urban transport, developing social housing, renovating aging apartment buildings, and resolving long-standing project bottlenecks.
In the second quarter, the city plans to launch a series of major transport projects, particularly those connecting Long Thanh International Airport, Tan Son Nhat Airport and surrounding regions. It will also coordinate with ministries to develop fuel and crude oil storage facilities in Long Son in line with national energy planning.
Efforts will also focus on cultural development, including launching Phase 1 of the Bach Dang Wharf–Khanh Hoi Park project and expanding the Ho Chi Minh Museum and cultural space, with completion targeted by September 2, 2026.
At the same time, the city is investing in science, technology, innovation and workforce training in partnership with international institutions to prepare for emerging technologies.
Ho Chi Minh City expressed appreciation for the Government’s timely direction and decentralization efforts, which have supported its strong performance and reinforced its role as Vietnam’s economic engine.
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