HCMC TO ESTABLISH CULTURAL INDUSTRY DEVELOPMENT FUND
The HCMC People’s Committee has tasked relevant departments with establishing a cultural industry development fund and developing a 150-hectare film studio complex. The move follows an instruction by HCMC Party Committee Secretary Tran Luu Quang. The city’s cultural industry development fund will be structured under a venture capital model.
VIETNAM KEEPS GROWTH TARGET AT 10% OR HIGHER AMID GLOBAL UNCERTAINTIES
Vietnam keeps its economic growth target unchanged at 10% or above despite rising global uncertainties and domestic challenges, according to Prime Minister Pham Minh Chinh. Chinh made the remarks while chairing the Government’s regular monthly meeting for March, held alongside an online conference with local authorities to review socio-economic performance in the first quarter of 2026 and outline priorities for the coming months.
VIETNAM’S GDP EXPANDS 7.83% IN Q1
Vietnam’s economy accelerated in the first quarter of 2026, with GDP expanding 7.83%. However, a return to a trade deficit of US$3.64 billion and a sharp rise in inflation in March signal renewed pressure on macroeconomic stability. Nguyen Thi Huong, head of the National Statistics Office, said in the first quarter socio-economic report that Vietnam’s GDP was estimated to expand 7.83% year-on-year in Q1 2026, higher than the roughly-7% growth recorded in the same period last year.
STATE BUDGET REVENUE TOPS VND829 TRILLION IN Q1
Vietnam’s state budget revenue in the first quarter of 2026 amounted to an estimated VND829 trillion, equivalent to 32.8% of the year’s target and up 11.4% year-on-year, according to the Ministry of Finance. Domestic revenue continued to anchor state finances, totaling around VND740.7 trillion, up 12.5%. Net revenue from import and export activities, after value added tax refunds, was estimated at VND77.4 trillion, up 7.6%, while revenue from crude oil exports was around VND11.2 trillion, down 15.8%.
FOREIGN INVESTMENT FLOWS INTO HCMC SURGE IN Q1
HCMC attracted nearly US$2.9 billion in foreign investment in the first quarter of 2026, up about 220% year-on-year, despite global economic uncertainties, according to the city’s Department of Finance. This result indicates foreign investors’ continued confidence in the investment and business environment. Among the notable FDI projects in the period, Singaporean investors were present across key sectors such as technology, media, manufacturing, and financial services.
VIETNAM WANTS TO ACCELERATE PRIVATE-SECTOR GROWTH
According to Conclusion 18, recently signed by Party General Secretary To Lam, reforms of the state sector will continue, with a focus on aligning state-owned enterprise (SOE) governance with international standards, enhancing efficiency, and strengthening the leading role of SOEs in key sectors. Equitization and state capital divestment will be further accelerated, ensuring efficiency and preventing losses and wastefulness.
HCMC EXPECTS US$8.9 BILLION FDI IN Q2
Some of projects include the Can Gio International Transshipment Port (US$4.9 billion), an AI data center (US$2.1 billion), and capital expansions for GS Metrocity Nha Be (US$2.2 billion). City authorities are now focusing on supporting investors to translate these registered commitments into reality. With the current momentum, total FDI for 2026 is projected to reach US$13 billion by year-end.
HCMC SCALES UP SUPPORT FOR BUSINESSES
The HCMC government is committed to further refining its investment environment and accelerating administrative reforms to help businesses achieve double-digit growth. Speaking at the High-quality Vietnamese Goods 2026 program announcement event on March 31, Bui Minh Thanh, vice chairman of the HCMC People’s Committee, said the city is focusing on supporting innovation, digital transformation, and green development to bolster the competitiveness of local businesses.
