HCMC to become modern industrial city by 2030

Ho Chi Minh City is expected to become a modern service and industrial city, a locomotive in terms of the digital economy and the digital society, and a center of economy, finance, trade, and science and technology in Vietnam by 2030.

Targets were set under a Politburo Resolution signed by Party General Secretary Nguyen Phu Trong on January 2 on orientations and tasks for the development of Ho Chi Minh City by 2030 with a vision to 2045.

The Resolution clarifies the view that building and developing a civilized and modern Ho Chi Minh City is an important political task of the entire Party, people, army, and political system, especially the local Party organization, administration, and people.

It is also envisioned to soon become a center of economy, finance, services, culture, education and training, science and technology, and innovation in Southeast Asia and Asia while boasting a level of competitiveness comparable to global cities.

The southern city is expected to post annual growth of 8-8.5 per cent, annual per capita gross regional domestic product (GRDP) of about $14,500, and contribute 40 per cent to Vietnam’s GDP by 2030.

By 2045, it will have become comparable to major cities around the globe, an economic, financial, and service center of Asia, a nucleus of the region and the southern region, a growth engine of Vietnam, and a magnet for international financial institutions and enterprises.