HCMC – Ho Chi Minh City is targeting economic growth of 10.3% in the last five months of this year to lift its full-year gross regional domestic product (GRDP) to at least 8.5%, in line with its newly issued plan to accelerate socio-economic development.
The city posted growth of 6.56% in the first half of the year, or 7.49% excluding crude oil.
To meet its annual GRDP goal of at least 8.5%, HCMC is targeting a 10.3% expansion in the latter half. Officials believe this momentum could lay the foundation for achieving double-digit growth in the coming years.
At the August 9 meeting reviewing the city’s Jan-Jul socio-economic performance, HCMC Chairman Nguyen Van Duoc noted that to meet the Government’s full-year growth target of 8.5%, the city’s GRDP must expand by a minimum of 10.3% to 10.5% in the final five months.
The city will tackle obstacles, accelerate key projects, and boost public investment disbursement to lead, stimulate, and attract the effective use of social resources.
After merging with Binh Duong and Ba Ria-Vung Tau, HCMC envisions itself as a “Southeast Asian international megacity,” with per capita GRDP reaching around US$14,000-15,000 by 2030 and ranking among the world’s top 100 cities by 2045.
