On July 2, 1976, the former Saigon–Gia Dinh was officially renamed Ho Chi Minh City in honour of President Ho Chi Minh. Fifty years later, it has become Vietnam's economic powerhouse, accounting for 23.5% of the country's GDP. In 2025, the city posted a GRDP of nearly 3 quadrillion VND (approximately 115 billion USD), with per capita income reaching 8,755 USD.