Ho Chi Minh City reported fairly comprehensive results in the first six months of 2026, while facing significant challenges in meeting the annual growth target. At a meeting chaired by Deputy Prime Minister and Acting Government Chief Pham Gia Tuc with city leaders, officials outlined achievements and urged acceleration of public investment and project execution for the remainder of 2026.
The city’s six-month GRDP grew by 8.55% year-on-year, still below the scenario of 10.04% and well under the target of 10.2% for the year, creating pressure to achieve the annual target in the remaining months. Industrial production and retail sales expanded 10.9% and 11.8% respectively, but fell short of annual targets of 12.2% and 15%. Public investment disbursement remained slow at 34.9% of the plan, ranking 24th among 34 localities and below the national average of 35.5%. Several projects were undisbursed or with very low disbursement rates, and progress on key projects remained slow. Difficulties persisted in compensation and site clearance, with limited implementation capacity and coordination and ongoing buck-passing and avoidance of responsibility.
The Deputy Prime Minister emphasized continuing to advance the tasks outlined in government and party directives, studying relevant resolutions to analyze root causes and propose decisive, feasible solutions to meet and exceed 2026 targets. He urged updates to growth scenarios for each industry, sector, commune, ward and special zone on a monthly and quarterly basis to support policy guidance for Q3 and Q4 2026, aiming for GRDP growth above 10% in 2026. He called for publicly disclosing delayed projects and linking leaders’ accountability to disbursement outcomes, and instructed accelerated public investment disbursement as a top political task for the remaining months of 2026. Regular reviews and resolution of bottlenecks in site clearance and investment selection were requested, along with the implementation of detailed weekly, monthly and quarterly disbursement plans, and addressing projects with large allocations but little disbursement to date.
While performance across sectors was broadly positive, the shortfall in meeting the growth scenario and the relatively slow disbursement of public investment pose risks to hitting the full-year targets. The city ranks 24th among 34 localities in disbursement, below the national average, and faces continued challenges in project implementation, compensation, and site clearance. The authorities identified growth drivers and new growth room for each sector and field, with an emphasis on mobilizing resources in months with weaker growth in the first half of 2026.
No expert commentary is provided in the source material.
