On May 8, Ho Chi Minh City People’s Committee organized a meeting to discuss the economic and social situation in April and the first four months of the year, as well as key tasks and solutions for May 2025. The meeting was chaired by the Vice Chairmen of the City People’s Committee: Vo Van Hoan, Bui Xuan Cuong, and Nguyen Van Dung.
At the meeting, Ms. Le Thi Huynh Mai, Director of Ho Chi Minh City Department of Finance, reported that the city’s economic and social development in April and the first four months of the year continued to achieve positive results. In the first four months, all indicators showed quite high growth compared to the same period last year.
IMPRESSIVE GROWTH IN TOURISM AND CONSUMPTION DUE TO MAJOR EVENTS
According to Ms. Mai, in April, the total tourism revenue was estimated at VND 19,919 billion, an increase of nearly 30% compared to the same period in 2024. The city’s administrative reform index (PAR Index) in 2024 also improved significantly, ranking 21st, up 12 places compared to the previous year.
“This achievement is a clear testament to the city’s determination to reform and build a modern administration, creating a driving force for economic and social development and improving the quality of services for citizens and businesses,” said Ms. Mai.
According to statistics from the Ho Chi Minh City Statistics Office, the total retail sales of goods and service revenue in April 2025 was estimated at VND 128,886 billion, an increase of 17.9% compared to the previous month and 37.6% over the same period last year. For the first four months of 2025, the total retail sales of goods and service revenue reached an estimated VND 444,885 billion, up 20% year-on-year.
The organization of major events, the increase in the number of tourists visiting the city, and the subsequent surge in traffic volume compared to the same period last year, all contributed to this growth. In the first four months of 2025, transport revenue increased by 19.4% year-on-year, with passenger transport revenue increasing by 58.9%.
“The buying power in the city increased significantly in April due to the large-scale events commemorating the 50th anniversary of the liberation of the South. Businesses also offered attractive promotions to stimulate consumption and attract customers,” said the Ho Chi Minh City Statistics Office.
In addition, the Ho Chi Minh City Statistics Office reported that industrial production in the city continued to grow as businesses proactively accelerated their production schedules by 90 days compared to the usual timeline to mitigate risks, costs, and unfavorable tariffs.
The industrial production index (IIP) for April is estimated to increase by 6.6% compared to the previous month and 10.8% over the same period. For the first four months of 2025, the IIP increased by 7.9% year-on-year, the highest production level in the past four years.
ENHANCED PUBLIC INVESTMENT
In celebration of the 50th anniversary of the liberation of the South and the reunification of Vietnam, the city inaugurated and commenced several key projects, contributing to its new face and improving the traffic infrastructure and quality of life for its citizens.
Data from the Ho Chi Minh City Statistics Office showed that the capital investment in construction and major repairs from the state budget managed by the city in April 2025 was estimated at VND 3,951.1 billion, an increase of 12.2% compared to the previous month and 10.4% over the same period.
Of this, the capital investment from the city budget was estimated at VND 3,750.9 billion, up 12.6% compared to the previous month and 6.5% year-on-year. The capital investment from the district budget was estimated at VND 200.2 billion, an increase of 5.9% compared to the previous month and a significant surge of 250.3% year-on-year (due to the district budget capital in 2025 being 9.9 times higher than in 2024).
For the first four months of 2025, the capital investment in construction and major repairs from the state budget managed by the city was estimated at VND 11,905.1 billion, accounting for 14.1% of the yearly plan and an increase of 14.2% year-on-year.
The capital investment from the city budget was estimated at VND 11,158.4 billion, up 9.3% year-on-year, while the district budget investment was estimated at VND 746.7 billion, a surge of 246.5%. As of April 25, 2025, the total disbursed capital investment from the state budget was VND 5,828.4 billion, reaching 6.9% of the 2025 capital plan.
In April 2025, the city inaugurated several key transport infrastructure projects, including the T3 Passenger Terminal at Tan Son Nhat International Airport, the Tran Quoc Hoan – Cong Hoa road connection, the Ben Luc – Long Thanh expressway, and the Hoc Mon District General Hospital. The city also commenced the project to complete the HCMC Ring Road No. 2, Package XL-03 for dredging, environmental improvement, and infrastructure construction of the Xuyen Tam Canal from Nhieu Loc – Thi Nghe Canal.
However, according to the Director of the Ho Chi Minh City Department of Finance, there are still some challenges. For instance, due to the unpredictable fluctuations in international trade and the tax countermeasures imposed by the US, some city enterprises with major exports to the US market have been impacted, affecting their production and business plans.
According to the Ho Chi Minh City Statistics Office, the business environment in the city has not shown significant improvement. There was a 23.5% decrease in the number of enterprises entering the market and a 7.7% increase in the number of enterprises exiting the market compared to the same period. From January 1 to April 20, 2025, the city granted licenses to 10,375 enterprises with a registered capital of VND 61,484 billion, a decrease of 34.6% in the number of licenses and 52.3% in capital compared to the same period.
At the meeting, Dr. Truong Minh Huy Vu, Director of the Ho Chi Minh City Institute for Development Research, commented that the economic and social situation in April was positive, especially in terms of tourism revenue, thanks to the 50th anniversary of the Liberation of the South and the United Nations Vesak Day 2025.
However, Dr. Vu suggested further analysis of related issues to accelerate the disbursement of public investment capital and improve the investment environment. With Ho Chi Minh City and the provinces of Binh Duong and Ba Ria-Vung Tau preparing for integration, Ho Chi Minh City needs to be well-prepared to welcome a wave of investment and business opportunities. This includes focusing on public investment to lead the way and improve the investment environment, as well as concretizing the implementation of Resolution 57 of the Politburo on breakthrough strategies for national science and technology development, innovation, and digital transformation into specific projects.
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