HCM City targets 10% economic growth with eight breakthrough solutions

According to Le Thi Huynh Mai, Director of the HCM City Department of Planning and Investment, key measures include accelerating public investment and leveraging resources from state-owned enterprises, promoting public-private partnerships (PPP), improving the investment climate, attracting foreign direct investment (FDI), advancing science and technology, driving digital transformation and productivity growth, establishing an effective mechanism for the real estate market, stimulating consumption and tourism, and boosting exports.

Although achieving 10% growth presents a huge challenge, HCM City has shown promising signs early in 2025.

January’s economic data show strong momentum across multiple sectors: total retail sales of goods and consumer services rose 7.5% year-on-year; tourism revenue surged 42.6%; international arrivals increased 18.6%; credit growth reached 12.8%, and budget spending soared 80.24%.

To reach the target, HCM City’s economic sectors must achieve corresponding growth rates: agriculture needs to expand by over 1.2%; industry and construction by 10.7% (with industry up 9.9% and construction 15.4%); services by 10.4% (including trade at 9.8%, transportation at 14.9%, and finance at 9.5%); and product tax revenue by 8.7%.

The city has already mobilized key resources and is rolling out support measures, including disbursing over 95% of its 2025 public investment plan, ensuring total social investment surpasses VND 600 trillion, adding approximately 145,000 workers, improving labor productivity by 7.5%, raising outstanding credit by over 18%, and boosting budget revenue from production by more than 14%, Le Thi Huynh Mai noted.