Southern megacity posts 7.5% economic growth in first half
VOV.VN - Ho Chi Minh City’s gross regional domestic product (GRDP) rose by 6.56% in the first half of 2025, or 7.49% when crude oil is included, according to a meeting held by the municipal People’s Committee on July 4 to review economic performance in June and outline tasks for the rest of the year.
Chairman of the Ho Chi Minh City People’s Committee Nguyen Van Duoc noted that this was the first meeting since the merger of three localities and the implementation of the new two-tier government model. The event was also the first to be connected online with all 168 communes, wards, and special zones across the city.
The city reported several key economic indicators. Budget revenue exceeded VND372 trillion, equivalent to nearly 53% of the yearly estimate. Foreign direct investment (FDI) reached US$4.72 billion, up more than 32% year-on-year, with nearly 1,000 new projects licensed. Public investment disbursement topped VND46.6 trillion, or close to 40% of the government-assigned plan.
Among the three former localities, Binh Duong posted the highest growth rate at 8.3%, while Ba Ria–Vung Tau grew 2.61% excluding crude oil. Ho Chi Minh City (former unit) achieved a 7.82% growth rate, the highest since 2020, driven mainly by services (up 8.58%) and industry–construction (up 6.7%).
Chairman Duoc emphasized that the newly merged Ho Chi Minh City is entering a new phase with broader development potential and a renewed strategic vision.
The city is poised to become one of the world’s most livable cities by 2030. It will continue regional zoning, develop policies suited to local characteristics, and make full use of the advantages of the three former provinces. At the same time, it seeks to streamline overlapping jurisdictions that previously hindered coordination.
Regarding administrative arrangements, Director of the City’s Department of Home Affairs Nguyen Thi Thanh Hien said that all 168 commune-level units had convened their first People’s Council sessions and completed the necessary appointments. The city-level People’s Council has also met to approve the establishment of specialized agencies, while ensuring smooth and effective government operations.
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