Despite numerous challenges in 2024, Ho Chi Minh City's economy still record a commendable growth rate of 7.17%, heard a conference held on December 26 to review local socio-economic development achievements for 2024 and set the tasks for 2025.

Ho Chi Minh City's economy continues to maintain positive growth momentum, driven by industrial production, domestic consumption, and stable supply and demand, heard a meeting of the municipal People’s Committee on October 30.

Ho Chi Minh City’s economy shrank by 6.78% in 2021, the sharpest yearly decline on record, according to the municipal Statistics Office, as stringent COVID-19 restrictions took their toll.

Despite struggling to cope with a COVID-19 resurgence, Ho Chi Minh City managed to achieve positive economic growth in the first seven months of the year, according to the city Statistics Office.