Vice Prime Minister Ho Duc Phoc works with Ho Chi Minh City People’s Committee – Photo: VGP
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In the afternoon of August 15, Vice Prime Minister Ho Duc Phoc had a working session with the Ho Chi Minh City People’s Committee on the results of socio-economic development, budget collection and expenditure, and public investment plans for 2025, along with proposals for the 2026-2030 period.
As the final year of the 2021-2025 socio-economic development plan and the year of Party congresses at all levels, Ho Chi Minh City aims for an 8.5% GRDP growth rate, 100% disbursement of the 2025 public investment plan, and over 10% increase in industrial production index. The city also expects to achieve VND 260,000 billion in total tourism revenue and 8.5 million international visitors.
Ho Chi Minh City reaffirms its commitment to building a civilized and modern city, developing for the whole country. So far, the reorganization of administrative units and the construction of a two-level government model have initially achieved important results. However, to achieve the 8.5% growth rate in 2025, the growth rate in the last months of the year must be over 10%, which is a very challenging task.
The locality also admitted to facing several challenges: slow land fund exploitation, slow progress in compensation and resettlement in some infrastructure projects; a high number of temporarily inactive enterprises; and shortcomings in fire prevention and control.
For the five-year plan (2026-2030), Ho Chi Minh City proposes several support mechanisms from the central budget to invest in projects with inter-regional impacts, such as urban railway routes, the North-South high-speed railway (the section passing through Ho Chi Minh City), and the expansion of National Highways 50B, 51, and 56, and the connection road to the Ho Chi Minh City – Trung Luong Highway…
The city also proposed suggestions regarding the budget allocation ratio, financial authority devolution, medium-term public investment capital allocation, and the 2026 budget estimate.
Concluding the meeting, Vice Prime Minister Ho Duc Phoc affirmed the need to “provide substantial support to the economic locomotive” and highly appreciated the efforts of Ho Chi Minh City. He requested the city to promote its potential to become an international-standard economic, financial, and technological center, accelerate the disbursement of public investment, and effectively implement key infrastructure projects.
The Vice Prime Minister also emphasized the need to shift the growth model from capital-based to science and technology-based, innovation, and labor productivity; focus on developing transportation and logistics infrastructure, enhancing regional connectivity, promoting social housing, and encouraging all economic components, while ensuring social security and improving the quality of human resources.
– 20:13 08/15/2025
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