Ho Chi Minh City aims for double-digit growth

Ho Chi Minh City aims to achieve double-digit growth in the near term, with leadership directing faster, stronger and more decisive governance while proactively adapting to an unstable geopolitical and global economic environment. The goal was highlighted in Notification No. 337/TB-VP, which conveyed conclusions by Chairman Nguyen Van Được at the seminar “Solutions to promote double-digit growth from traditional and new drivers in the context of ensuring energy security in Ho Chi Minh City.”

Governance push and policy “levers”

City leadership said the target is not only an economic objective but also a strategic requirement to maintain the country’s leading role. To reach double-digit growth, the city cannot rely solely on conventional economic measures; it needs a coordinated package of breakthrough and comprehensive solutions.

One key foundation cited is the city’s existing development platform. Ho Chi Minh City has experience implementing pilot mechanisms and policies, which it said provides advantages in accessing and applying new solutions. In parallel, infrastructure investment—particularly in urban transport, urban rail and logistics—is expected to improve connectivity and support growth.

Special central-government policies were also described as an important “lever.” The city noted that new National Assembly resolutions have expanded policy space by removing institutional and procedural bottlenecks for investment, allowing Ho Chi Minh City to accelerate major projects. The plan to build a Special Urban Law is expected to further strengthen the city’s ability to realize its potential and advantages.

Shifting the growth model and prioritizing new drivers

The city identified transforming the growth model as a core requirement. Instead of relying on traditional growth engines, Ho Chi Minh City plans to base growth on science and technology, innovation and digital transformation.

New growth drivers to be prioritized include an international financial center, the port system, logistics, free-trade zones, high-tech industries, artificial intelligence and data centers. The city also said it will seek to capitalize on both traditional and new drivers simultaneously.

Energy security as a prerequisite

Ensuring energy security was highlighted as an especially important factor. Given volatile energy supply and global energy prices, the city said it needs to develop contingency scenarios for multiple situations, ranging from stability to crisis.

Securing energy supply is described as not only necessary for production, but also a fundamental condition to maintain high and sustainable growth.

Investment acceleration and role of businesses

Strategic infrastructure projects will be accelerated, with emphasis on transportation, logistics and digital infrastructure. The city also targets disbursing 100% of public investment capital in 2026, viewing this as a direct driver of growth.

The business community was identified as the central force in implementation. The city called on enterprises to actively innovate with technology, enhance governance capabilities and develop scenarios to cope with market volatility, particularly energy costs. Industry associations are expected to act as bridges by promptly reporting difficulties to authorities so that appropriate governance solutions can be implemented.

Expert input and long-term strategy

The role of experts and scientists was also emphasized. Their opinions and proposals are expected to provide an important basis for the city to refine policies and shape long-term development strategies.

In this context, the double-digit growth goal is framed as both a challenge and a test of governance capacity and the ability to innovate. With the existing foundation, strong political determination, and cooperation from businesses and residents, Ho Chi Minh City expects to achieve a breakthrough and continue its locomotive role in the country’s economy.