HCMC aims for double-digit growth with 7 solutions

Ho Chi Minh City is focusing on implementing seven groups of solutions to boost its economy, aiming for double-digit growth in 2025.

The solutions includes promoting the digital economy, infrastructure development, and attracting investment, with the expectation that businesses will collaborate and contribute to sustainable growth.

First, decisively and synchronously implement Resolutions and Conclusions from the Party Central Committee,  the Politburo, the National Assembly, and the Government. This involves effectively utilizing  breakthrough mechanisms, policies, and regulations, which have been recently issued,  thus immediately liberating economic resources for development.

Second, continue prioritizing research to perfect institutions, mechanisms, policies, and legal regulations;  and streamline apparatus.

Third, mobilize and effectively utilize resources for development; accelerate the disbursement of public investment capital, using public investment to lead, activate, and attract all social resources; promote private investment, and attract FDI.

Fourth, form new growth drivers, attract large-scale, high-tech investment projects, invest in important infrastructure projects; and develop dynamic regions, urban areas, and growth nuclei of the locality.

Fifth, focus on rapidly developing high-value-added service industries, which are strengths of the City; expand export markets; promote consumption; and attract tourists.

Sixth, promote the development of science and technology, innovation, digital transformation, and high-quality human resources.

Seventh, continue to build and perfect a digital government and streamline the state apparatus.

Under its Resolution No 25/NQ-CP, the Government assigned Ho Chi Minh City a growth target of 8.5%, but from the end of 2024, the city proactively researched and set a growth target of over 10%.