In 2024, Ho Chi Minh City's GRDP (gross regional product) growth is 7.17%. In 2025, the Government has a resolution assigning Ho Chi Minh City to achieve growth of 8.5%.
Perspective of Can Gio international transit port - Photo: Portcoast
Ho Chi Minh City has a target of 10% to create momentum for the following years at a double-digit level. To achieve these numbers, it requires a lot of effort, perseverance, breakthrough solutions and especially steps.
There are many opinions on how to proceed, but we should support "8 + 2" - that is, do it firmly to get 8% while breaking through at 2% to reach the target of 10%.
Why do we need to be steady and make breakthroughs? Before COVID-19, from 2017 to 2019, the city grew by 8%.
But this growth momentum has not been maintained since COVID-19. Therefore, solutions must be strengthened to achieve 8% growth. In the years with 8% growth, what growth drivers did the city rely on?
These are social investment, consumption and export. For Ho Chi Minh City, social investment is a decisive factor in growth. Previously, this figure was about 33% of the city's GRDP but recently it only accounts for 22.4%.
Thus, to achieve high growth, Ho Chi Minh City must mobilize to bring total social investment capital back to 33% of GRDP.
Assuming the growth target is 10%, the city's GRDP must reach about 2 million billion, so 33% of 2 million billion is 660,000 billion VND. Of which, public investment capital and the state sector account for 120,000.
The remaining 500,000 billion must be mobilized from the private sector and the foreign-invested sector. Mobilization from these two sectors has decreased in recent years, and now this capital flow must be revived. Based on what? Still the three main breakthroughs - institutions, infrastructure and human resources.
In terms of institutions, Ho Chi Minh City must be determined to reform administration and improve the investment and business environment to meet the expectations of people and businesses.
The indexes that have long placed Ho Chi Minh City at half of the national average, such as PCI (provincial competitiveness index) or PAR Index (administrative reform index), must now regain that top position.
The second factor is infrastructure. Although Ho Chi Minh City has invested heavily to improve it, it has not met the requirements.
Therefore, the city must continue to invest more in infrastructure, especially transportation infrastructure. These include urban railways and beltways. Along with that are highways connecting to localities in the region.
Only then can we develop infrastructure for industrial parks, call for investment in clean land, exploit new industrial parks, and at the same time restructure old industrial parks towards science, technology, innovation, and digital transformation.
At the same time, we pay attention to investing in cultural and tourism infrastructure, which is both a strength and an endogenous driving force to help the city's economy grow sustainably.
The third factor is human resources and organizational structure. The city is streamlining its apparatus towards efficiency, effectiveness and effectiveness.
We must select suitable human resources with new skills and thinking to serve the people and businesses. Only by focusing on these three breakthroughs can we maintain the traditional growth momentum and the 8% target.
So where should we start with the remaining 2%? We must immediately implement projects for the international financial center, the Can Gio international transit port project, the Can Gio free trade zone, the Can Gio coastal urban area..., and action programs to implement Resolution 57 of the Central Committee on science and technology, innovation and digital transformation.
The city has also established a Digital Transformation Center, a Center for Industrial Revolution 4.0, a Center for Creative Startups, research institutes of universities, testing centers, sandboxes... to support small and medium enterprises to accelerate their development.
In addition, the city must also focus on high-quality service centers such as healthcare, science and technology services, logistics services... These movements also contribute to increasing GRDP, especially in the following years.
Source: https://tuoitre.vn/don-luc-cho-nhip-di-8-2-20250211085846796.htm
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