On July 2, 1976, the National Assembly of Vietnam renamed the historic Saigon - Gia Dinh area as Ho Chi Minh City. Half a century later, the city has grown into a dynamic economic powerhouse, an international trade hub, and a leading innovation center.

Luxury cars showcased in Ho Chi Minh City. Photo: Nguyen Luan/VNP

The COSCO SHIPPING ROSE vessel docks at Tan Cang-Cai Mep International Terminal. Photo: Huynh Son

2024

• GRDP: Growing at nearly 7.2%.

• Tax Revenues: Surpassing the threshold of 500 trillion dong, reaching over 508.553 trillion dong.

• Services and Retail Sales: Increasing nearly 11% to 1.206 quadrillion dong.

• Tourism: 6 million international arrivals and 36 million domestic tourists, with 190 trillion dong in total revenues.

• Economic Density: Generating 848.7 billion dong in added value per square kilometer of land.

A science and technology show at the Ho Chi Minh City Innovation Hub. Photo: Thu Hoai/VNA

2025

• GRDP: Up over 7.5% after an administrative merger with Binh Duong and Ba Ria - Vung Tau provinces.

• GRDP per capita: 8,755 US dollars, 1.7 times the national average.

• Tax Revenues: Around 746.438 trillion dong.

• Business Demography: 59,750 new enterprises.

• FDI: Around 8.37 billion US dollars.

• Tourism: 8.6 million foreign arrivals and 46 million local tourists, 278.566 trillion dong in revenues.

• Growth Model: Shifting to knowledge-based economy model in 2024 - 2025.

• Total Factor Productivity: Making up 59% of GRDP growth by 2025.

An operation at Cho Ray Hospital. Photo: Published by VNA

Scientific research at the Ho Chi Minh City Hi-Tech Park. Photo: Tien Luc/VNA

Two-digit growth target

• GRDP: Up 10-11%/year on average from 2026 to 2030.

• 2030 Vision: An international financial center with 15,000 US dollars in per capita income.

• Growth Target: 10% in the scenario of favorable conditions and effective implementation of mechanisms and policies under revised Resolution 98.

High school graduates celebrate at the Saigon Central Post Office. Photo: Tran The Phong

Foreign tourists join a city tour on vintage motorbikes in Ho Chi Minh City. Photo: Thong Hai/VNP

Key Tasks and Solutions in 2026

• Tax Revenue Target: Over 805 trillion dong.

• Urban Development: Implementation after the Transit Oriented Development (TOD) model and use of land funds to increase revenues from land.

• Financial Instruments: Adopting special fees under Resolution 98, issuing municipal and project bonds, and utilizing funding sources.

• Public Investment: 148 trillion dong.

• Mobilizing Social Resources: More than 1.05 quadrillion dong, increasingly attracting foreign investment.

• Administrative Reform: Effective administrative streamlining, improving investment climate, and removing/ simplifying redundant/impractical administrative formalities.

• Sustainable Growth: Aiming for rapid and sustainable growth by restructuring the economy and reforming the growth model with science, technology and innovation as key drivers.

• Spatial Restructuring: Restructuring development space toward building a multi-polar, integrated and connected megacity, prioritizing investment in three key zones.

• Urban Management: Addressing three issues: urban flooding, traffic congestion and air/environmental pollution./.

Story: VNP

Photos: Nguyen Luan, Thong Hai/VNP, Tran The Phong, Huynh Son & VNA