Chairman of the Ho Chi Minh City People’s Committee, Nguyen Van Duoc, speaks at the event
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Speaking at the Cafe Doanh Nhan event organized by the Ho Chi Minh City Business Association (HUBA) on the morning of March 8, Chairman of the Ho Chi Minh City People’s Committee, Nguyen Van Duoc, shared that despite the achievements, the city still faces existing issues and limitations that need to be addressed, along with pending projects.
With the new task of achieving double-digit growth, Ho Chi Minh City needs to implement new factors such as the International Financial Center and digital transformation to remove bottlenecks. The city is eager to receive suggestions and advice from experts and enterprises in the city.
According to Chairman Nguyen Van Duoc, to achieve double-digit growth, the city will boost public investment, mainly through transport infrastructure development, believing that “smooth roads lead to smooth finances.” Despite the challenges, the city is determined to unlock capital sources and develop projects to boost Ho Chi Minh City’s economy.
At the same time, Ho Chi Minh City will promote new sources of growth, including the Can Gio transshipment port, the construction of a digital transformation center, and the international financial center. The city plans to establish a multi-purpose high-tech center, a hub for AI, innovation, and Big Data, expected to be located in Thu Duc City by expanding the current Hi-Tech Park.
The Ho Chi Minh City government is resolute in shifting its mindset from administrative power to service, considering the people and the business community as the driving force for development. This is the consistent message that the city is determined to implement.
“I hope that the business community will accompany the Ho Chi Minh City government. For the city’s development, the role of businesses and entrepreneurs is crucial. Enterprises should feel secure, confident, and trusting of the government and the city”, emphasized Chairman Nguyen Van Duoc.
At the event, Dr. Vo Tri Thanh, former Vice President of the Central Institute for Economic Management, shared that Vietnam has set very high growth targets for this year and the following years. This year’s target is 8.5%, and it aims to maintain double-digit growth until at least 2030. Much of this depends on the growth of Ho Chi Minh City. If the city does not succeed, the country’s success will be challenging.
However, achieving this goal comes with countless challenges. The first challenge is how Ho Chi Minh City can mobilize external and internal resources. The city has a foundation in Resolution 98, a streamlined apparatus, and improved efficiency and effectiveness in creating a conducive environment for investment and business.
Ho Chi Minh City needs to achieve high growth while also expediting economic restructuring. This means transitioning from productivity-based growth to innovation-driven growth, leveraging science and technology. The city must develop infrastructure and human connections while enhancing the quality of human resources. Along with this transformation, Ho Chi Minh City should promote key sectors such as digital technology, AI, semiconductors, high-quality food processing, and pharmaceuticals, while also fostering and encouraging leading enterprises.
“The way for Ho Chi Minh City to achieve high growth is through tremendous effort, but even more important is to shift the quality and mode of growth”, emphasized Dr. Vo Tri Thanh.
– 20:35 08/03/2025
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