Meanwhile, about 43,100 businesses withdrew from the market, a 24.4 percent increase, highlighting continued pressure on business operations.
On September 17, the Ho Chi Minh City Department of Industry and Trade held a dialogue with businesses, business associations and industry groups on the city’s socio-economic situation, industrial production and trade performance during the first eight months of the year, as well as orientations for the fourth quarter of 2026. The meeting also discussed solutions to address difficulties and help businesses access support policies.
According to the department, key industrial and trade indicators continued to post solid growth. The Index of Industrial Production (IIP) rose 10.18 percent, while retail sales of goods exceeded VND617 trillion (US$23.7 million), up 17.2 percent. Exports increased 7.8 percent.
However, the number of businesses withdrawing from the market rose faster than the number entering or returning. On average, for every 10 businesses entering or re-entering the market, more than eight withdrew.
Director of the Ho Chi Minh City Department of Industry and Trade, Bui Ta Hoang Vu, said the department would listen to difficulties and proposals from businesses and business associations and focus on resolving issues within the city’s jurisdiction. For matters beyond its authority, the department would work with businesses to consolidate recommendations and submit them to central authorities for consideration.
One issue raised at the dialogue was businesses’ access to interest-rate support under Resolution No. 09/2023/NQ-HDND. Although Ho Chi Minh City has allocated thousands of billions of dong for the policy, only two applications for support have so far been submitted.
According to the department’s leadership, it is necessary to identify the bottlenecks preventing businesses from accessing the policy, particularly as financing costs continue to put pressure on investment and production.
For the remaining months of the year, the industry and trade sector has identified the domestic market as one of the direct drivers of growth, while exports will continue to support production through expanded market outlets.
From November through the Lunar New Year, the city plans to roll out a series of demand-stimulation and promotional programs, with the aim of increasing revenue by at least 20 percent for participating product categories during the peak season.
The city will also promote e-commerce, modernize its distribution network and strengthen links between suppliers in Ho Chi Minh City and other localities. It will implement programs to develop supporting industries and key and high-potential industrial products for 2026-2030, alongside interest-rate support policies.
The measures are aimed at strengthening production capacity, expanding markets and helping businesses gain access to support policies, thereby contributing to the resilience of the business sector.
