HCMC ECONOMY SEEN GROWING OVER 8% IN 2025

High-rise buildings are seen in HCMC. The city's gross regional domestic product is estimated to expand 8.03% in 2025 - PHOTO: DAT THANH

HCMC – HCMC’s economy is seen expanding 8.03% in 2025, outpacing national growth and reaffirming the city’s role as a key economic driver, according to Vo Van Minh, chairman of the HCMC People’s Council.

Speaking at the opening session of the council’s sixth meeting on December 9, Minh said the city has completed its administrative merger and rolled out a two-tier local government model, supporting stronger socio-economic performance this year.

HCMC’s gross regional domestic product (GRDP) is expected to reach VND2.74 quadrillion in 2025, accounting for nearly one-fourth of the nation’s GDP. GRDP per capita is projected at US$8,066. Foreign direct investment inflows are estimated at US$8.16 billion, up 21.1% from 2024. Retail sales and consumer service revenue are forecast to rise 13.5%, while industrial production is set to grow 9%.

Budget revenue is expected to total VND746.4 trillion, or 31.2% of the nation’s figure, exceeding both central and municipal targets. Local budget collections are projected at VND533.85 trillion, including VND57.74 trillion from crude oil and VND10.84 trillion from lottery operations. Local spending is estimated at VND282.06 trillion, supporting infrastructure development and social welfare.

The city recorded 59,750 newly established businesses, with total new and additional registered capital surpassing VND2 quadrillion.

The HCMC People’s Committee reported progress on several major infrastructure projects, including transport upgrades and riverbank erosion prevention works. The city is preparing to implement the Can Gio international transshipment port and the Soai Rap River dredging project.

Authorities have reviewed detailed planning for port land and water areas and completed a proposal to modernize the Cai Mep–Thi Vai international gateway port. The city has also submitted plans to allocate funding for preparations for seven metro lines and two additional lines linked to the areas that were part of the former Binh Duong Province.

Source: The Saigon Times