The 1st Congress of the HCMC Party Committee set out a long-term vision: “By the 100th anniversary of national independence (2045), HCMC will be among the world’s top 100 cities, worthy of being a global mega-city in Southeast Asia — a center for economy, finance, tourism, services, education, and healthcare in Asia, a globally attractive destination, with a distinctive, sustainable socio-economic and cultural development and a high quality of life, deeply integrated into the global community.” To realize this vision, the city must adopt strategic and practical steps. An analysis of the city’s economic restructuring since 2000 and its current landscape provides a clearer picture of where it stands and what it needs to do. Economic restructuring of HCMC The merger of the three localities created an economy accounting for nearly one-fourth of Vietnam’s gross domestic product (GDP), combining the service strength of former HCMC, the manufacturing and processing industry of former Binh Duong, and the energy, mineral, and seaport industries of former Ba Ria–Vung Tau. These advantages form the foundation for HCMC’s future development. As oil and gas — which account for nearly 10% of gross regional domestic product (GRDP) but employ less than 0.3% of the labor force […]