Aspiring to Become an “International Metropolis”
On October 30, the 2025 Meeting Between Ho Chi Minh City Leaders and the Foreign Direct Investment (FDI) Business Community took place under the theme “HCMC Metropolis: Sustainable Development and New Opportunities.” The event attracted over 400 domestic and international delegates.
Overview of the conference.
At the conference, Dr. Truong Minh Huy Vu, Director of the Ho Chi Minh City Institute for Development Studies, noted: “The consolidation of development space has opened a new vision, positioning HCMC as a leading international metropolis in Southeast Asia.”
The newly expanded HCMC spans 6,773 km², with an estimated economic scale of 3,030 trillion VND (123 billion USD), contributing 23.5% to the national GDP. The per capita GRDP averages 220 million VND (8,944 USD), 1.7 times higher than the national average.
The city is projected to contribute 737 trillion VND to the national budget, accounting for 36.7% of total national revenue, with a population of 13.6 million. The focus is on quality growth, with total factor productivity contributing 60% to GRDP growth and the digital economy targeting 30-40%. By 2045, HCMC aims to become an international metropolis, ranking among the world’s top 100 cities.
Post-merger, HCMC aims to become Southeast Asia’s leading international metropolis (Photo: Duy Anh)
Mr. Truong Trung Kien, Deputy Director of the HCMC Department of Planning and Architecture, outlined the “One Space – Three Regions – One Special Zone” model as the city’s long-term development framework: The core area focuses on finance, innovation, and high technology; Binh Duong serves as the industrial technology hub; Ba Ria – Vung Tau develops maritime and renewable energy; and Con Dao is envisioned as an eco-tourism and spiritual retreat special zone.
Mr. Nguyen Thanh Toan, Deputy Director of the HCMC Department of Finance, reported that by Q3 2025, the city hosts nearly 20,000 active FDI projects with a total capital of 141.2 billion USD, accounting for over 16% of national FDI. In the first nine months of the year, new and additional registered capital reached 7.1 billion USD, up 37.4% year-on-year—an impressive result amid global economic volatility.
Commitment to Removing Bottlenecks
Mr. Thue Quist Thomasen, Chairman of the Nordic Chamber of Commerce (NordCham), highlighted HCMC’s development vision aligns with Nordic models of green, smart, and sustainable cities. To attract high-quality FDI, he suggested establishing a “fast track” for green and digital projects, with a dedicated English-speaking support team to expedite approvals. Renewable energy is a key gateway for Nordic FDI. The city should expand green energy capacity, upgrade the power grid, and clarify regulations on direct and virtual power purchase agreements to unlock new investment.
Mr. Nguyen Van Duoc, Chairman of the HCMC People’s Committee.
Mr. Okabe Mitsutoshi, representative of the Japan External Trade Organization (JETRO) in HCMC, noted that JETRO’s 2024 survey identified complex administrative procedures, rising labor costs, and legal opacity as the top three challenges for Japanese businesses in Vietnam. JETRO urged the city to implement specific improvements in company establishment, goods import, work permits, and visas.
Can Gio Land Reclamation Project Submits Over $1.15 Billion, Propelling Ho Chi Minh City’s Budget Breakthrough
Domestic revenue remains a highlight, driven by significant windfall gains from land use fees and rentals, particularly the substantial contributions from the Can Gio land reclamation project.
Anticipation Builds as Ho Chi Minh City’s Most Congested Roadway Prepares for Expansion
The proposed expansion of Nguyen Tat Thanh Street and the construction of the new Tan Thuan 1 Bridge have garnered widespread support from Ho Chi Minh City residents, who eagerly anticipate an end to the decades-long traffic congestion plaguing the area.
Vietjet Orders 100 Airbus A321neo Aircraft
On October 30th, Vietjet finalized a landmark deal to purchase 100 A321neo aircraft during Vietnamese General Secretary To Lam’s official visit to the United Kingdom.
Soaring Land Valuations Fuel Persistent Housing Price Surge, Experts Warn
As land prices soar, experts warn that escalating input costs will inevitably drive up housing prices, making it nearly impossible for the market to cool down.
Emerging Real Estate Satellite Hubs: A Vibrant Ring Around Ho Chi Minh City
The real estate market is buzzing with activity in the satellite regions surrounding Ho Chi Minh City, as anticipation builds ahead of the city’s expansion. Leading the charge is the former Binh Duong province, topping the charts with an impressive index of 100. Close behind are Dong Nai (38), Ba Ria – Vung Tau (34), and Long An (28), collectively forming a vibrant “satellite belt” around the bustling metropolis.
