With outstanding socio-economic achievements in 2024, it can be affirmed that Ho Chi Minh City has firmly overcome difficulties, creating an important foundation for stronger development in the coming time. Mr. Phan Van Mai, Chairman of Ho Chi Minh City People's Committee shared about the opportunity for Ho Chi Minh City and the whole country to enter a new era - the era of national development.
With outstanding socio-economic achievements in 2024, it can be affirmed that Ho Chi Minh City has firmly overcome difficulties, creating an important foundation for stronger development in the coming time. Mr. Phan Van Mai, Chairman of Ho Chi Minh City People's Committee shared about the opportunity for Ho Chi Minh City and the whole country to enter a new era - the era of national development.
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| From 2025, Ho Chi Minh City's economic space will be continuously expanded, connecting with the whole country and internationally based on exploiting potential and advantages. |
Strong transformation
In 2024, Ho Chi Minh City is estimated to achieve GRDP growth of 7.17%, continuing to affirm its position as the country's economic locomotive. This is the foundation for the City to strive for double-digit growth by 2025 - the year Ho Chi Minh City celebrates the 50th anniversary of the Liberation of the South and National Reunification. Sir, what are the special socio-economic marks of the City over the past half century?
Over the past 50 years, Ho Chi Minh City has always affirmed its role as the economic and social locomotive of the whole country. This is the place where many key industries, modern services are concentrated and strongly attract domestic and foreign investment capital.
The economic development of the City has a spillover effect on other localities in the Southeast region and the whole country. With a large economic scale and a positive economic structure shift, the City is increasingly increasing the proportion of service industries and leading in attracting foreign investment capital.
In the field of innovation, the City focuses on building a startup ecosystem, attracting talent and investing in technology, contributing to improving labor productivity and competitiveness.
Socially, Ho Chi Minh City attracts people from all over the country to live, work, and study, creating cultural diversity and customs. This is the premise for the City to gradually develop into a cultural, educational, scientific and technological center of the country over the past 50 years.
The city is still changing more strongly every day, reaching out to become a smart, modern, green, clean and beautiful city.
After 1 year of implementing Resolution No. 98/2023/QH15 on piloting a number of specific mechanisms and policies, Ho Chi Minh City has initially achieved positive results, creating a solid foundation and important breakthrough momentum for rapid, strong and sustainable development. However, there are still a number of mechanisms and policies that have not been put into practice, affecting the resolution of the City's bottlenecks...
Resolution No. 98/2023/QH15 stipulates 44 specific mechanisms, of which 33 have been applied, including 24 mechanisms with initial results, 9 mechanisms are in the process of preparing procedures and next steps to implement in accordance with regulations. In addition, there are 11 mechanisms that have not been applied, including 1 mechanism waiting for ministries and branches to supplement regulations; 2 mechanisms have stopped implementation due to new regulations replacing them; 3 mechanisms have not been proposed for application; 5 mechanisms the City is finalizing guidance documents.
Among the 11 mechanisms that have not been applied, there are policies on resource mobilization and use to help the City maximize its potential and strengths, develop quickly and strongly. That is the priority policy to attract strategic investors (investing in building an Innovation Center, R&D Center; manufacturing chips, semiconductors, new materials, clean energy; attracting strategic investors to invest in the Can Gio International Transit Port Construction Project).
In addition, the plan to implement the regulation "HCMC is allowed to increase the total outstanding loan balance not exceeding 120% of the City's budget revenue according to decentralization" has not been issued, leading to the resolution of the City's bottlenecks not being as effective as expected.
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| Mr. Phan Van Mai, Chairman of Ho Chi Minh City People's Committee |
Locating the breakout momentum
General Secretary To Lam emphasized: “Vietnam will enter a new era, an era of national growth”. How will Ho Chi Minh City position itself in the economic - social - cultural space towards a new era of development, sir?
From 2025, Ho Chi Minh City will continue to affirm its position as the economic locomotive, cultural center and smart city of the country, making a key contribution to the country's development. The city will position the following development orientations:
Firstly, in terms of economic space, the Ho Chi Minh City Master Plan for the period 2021 - 2030, with a vision to 2050, has been approved. The city is adjusting the Master Plan to 2040, with a vision to 2060. The goal by 2030 is that Ho Chi Minh City will be a global, civilized, modern, humane, dynamic and creative city; a city with high-quality human resources, modern services and industry, a locomotive in green and digital economy, digital society, an economic, financial, trade - service, cultural, educational, scientific - technological center of the whole country, deeply integrated internationally, with a prominent position in the Southeast Asian region, with economic growth rate and GRDP per capita among the top in the country and surpassing the high-income threshold; a city with a high quality of life, rich in identity, sustainable environment, adapting to climate change.
Thus, from 2025, Ho Chi Minh City's economic space will be continuously expanded, connecting with the region, the country and the world based on exploiting the potential and advantages of the City, the economic scale will increase both in quantity and quality with new economic models along with increasingly effective exploitation of resources.
Second, the City focuses on improving the quality of life, building a civilized, modern, and humane society. The City is focusing on developing high-quality human resources, meeting the needs of the labor market and reaching international standards, building appropriate connection programs for high-tech industries...
Third, the City will become a cultural, tourism, science and technology center of the country and the region. The City will build a leading science and technology and innovation startup ecosystem in Vietnam, identifying research and application of science and technology and innovation as the driving force for socio-economic development...
Fourth, the City is resilient in overcoming challenges and taking advantage of opportunities for sustainable development.
In summary, the City needs to focus on transforming the economic model, developing the digital economy, green economy, and circular economy; improving the quality of human resources; building a civilized, modern, and humane society, while overcoming challenges and making the most of opportunities.
The process of implementing the above orientations will certainly encounter many challenges. How has Ho Chi Minh City identified and developed solutions?
The biggest challenge is in terms of institutions and mechanisms. Some policies are not really breakthroughs, not strong enough to create momentum for development or still have problems and shortcomings. These problems not only slow down the progress of the City's key projects and programs, but also hinder the development of potential and attraction of social investment resources. In addition to Resolution No. 98/2023/QH15, in the coming time, there needs to be a special Urban Law so that Ho Chi Minh City can be more proactive in piloting specific mechanisms and policies, suitable to its role and position.
In addition, the City has identified a plan to focus on investing in developing public transport infrastructure, urban railways, and modern, high-tech waste and wastewater treatment systems. In the context that high-quality human resources, especially in the technology sector, have not yet met the demand, the City has determined to continue promoting training and attracting domestic and foreign talents, experts, and scientists.
People's quality of life and happiness level are also important measures for the City in the next phase. Therefore, the City will focus on perfecting the social security system, improving the quality of public services; promoting activities to build cultural and spiritual life for the people.
Ready to establish a financial center
Resolution No. 31-NQ/TW of the Politburo has oriented Ho Chi Minh City to become a city with modern industrial development on par with major cities in the region and reaching the continental level by 2045. What specific solutions has the city had to realize this goal?
The city focuses on developing high-tech industries, increasing the proportion of industry and construction to 27-30% and strongly restructuring the industry. Key industries are developed towards perfecting the ecosystem, focusing on high-tech segments with high growth value.
The city will have policies to support interest rates and offer preferential land rents for key projects, investing in potential industries such as electronics - semiconductors, artificial intelligence, biotechnology and new materials...
The city also promotes public-private partnerships to mobilize social capital and develop industrial and service infrastructure. At the same time, it completes the compensation support mechanism, site clearance and land recovery, and completes the legal system to ensure effective management.
In addition, the City focuses on attracting strategic, high-tech investors and developing domestic and international market connections, improving competitiveness. Maximizing and effectively using private sector resources to compensate for the state budget deficit in infrastructure investment and public services.
The city will focus on improving the efficiency of attracting foreign investment. In particular, it will focus on attracting the world's leading corporations, repositioning foreign investment capital to minimize risks and prioritizing green and high-tech projects. Through cooperation for mutual development, the city will connect domestic production with the production chains of multinational corporations, increasing the localization rate and added value.
The Politburo has agreed to establish a comprehensive international financial center in Ho Chi Minh City. According to experts, the early development of an international financial center will create opportunities for the city to connect with the global financial market, attract foreign financial institutions, promote resources, and create breakthroughs for development. What roadmap does the city have to make the most of this opportunity?
The City has established the City Steering Committee on the International Financial Center, headed by the City Party Secretary, to coordinate with central agencies to carry out assigned tasks.
The city will coordinate with the Ministry of Planning and Investment and relevant ministries and branches to review and assess the impact of each policy, propose related content, and send it to the Ministry of Planning and Investment for synthesis to develop the National Assembly's Resolution on the financial center, and coordinate to develop documents regulating and guiding the implementation of the Resolution according to its authority.
The city will develop a plan to mobilize resources, including resources from the state budget and private resources to develop infrastructure to serve the financial center; develop and implement an investment plan for human resource development for the financial center; prepare locations to be ready for the development of the financial center; promote investment and call for investment in the financial center in Ho Chi Minh City.
Source: https://baodautu.vn/tphcm-dinh-vi-xung-luc-but-pha-d243703.html
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