AKP Phnom Penh, August 27, 2025 --

Ho Chi Minh City is pressing ahead with comprehensive and resolute measures to ensure its 2025 economic growth target of 8.5% or higher, with GDP expansion in the second half of the year expected to reach 10.3%.

The city aims to build a firm foundation for double-digit growth in the 2026–2030 period.

Under the city’s plan for the remainder of 2025, each department and agency is tasked with specific tasks to contribute to the goals of mobilising total social investment of around 780 trillion VND (29.56 billion USD), boosting total retail sales of goods and services by 19.2%, and increasing exports by 24.3%. Tourism goals include attracting 8.5–10 million international visitors, 45–50 million domestic tourists, and generating total tourism revenue of 260–290 trillion VND.

The municipal People’s Committee stressed the need for strict implementation of resolutions and policies issued by the Party Central Committee, and the city Party Committee and People’s Council. Authorities will also maximise new breakthrough mechanisms, swiftly remove economic bottlenecks, and advance administrative reforms. Tax, fee, and land rent exemptions, reductions, and deferrals will continue to support businesses and citizens.

Local officials are strengthening dialogue with investors, enterprises, cooperatives, and business households to quickly identify challenges and provide appropriate support. Special measures such as “green channels” for projects in export processing zones, industrial parks, and high-tech zones will be further promoted.

Departments and units are directed to cut at least 30% of administrative processing times, reduce business costs by 30%, and eliminate at least 30% of unnecessary business conditions, creating a more attractive investment climate and expediting investment procedures. The city is also committed to fully disbursing its 2025 state budget capital and attracting additional social investment where feasible.

The city is also determined to ensure 100% disbursement of its 2025 state budget capital plan, while attracting greater social investment whenever favourable conditions allow.

Looking ahead, Ho Chi Minh City plans to accelerate the development of high value-added services, promote exports and trade, stimulate domestic consumption, and expand the tourism sector. Priority growth drivers include science and technology, innovation, digital transformation, and high-quality human resources. The city will leverage science and technology funds, venture capital, start-up and innovation funds, and implement investment models such as “public investment – private management” and “private investment – public use.”

Comprehensive digitalisation will continue across state management, encompassing digital government, economy, society, and citizen services. The city will advance its data governance strategy, enhance public administrative service systems, and accelerate the deployment of 5G infrastructure.

Regarding US tariff policies, the People’s Committee called on local authorities to coordinate closely with ministries to propose measures that strengthen competitiveness, support affected sectors, establish traceability systems, and increase integration into regional and global supply and value chains.

AKP-VNA