HCMC – HCMC’s economic growth in 2025 was limited to 8.03% because public investment disbursement remained weak, the city’s chairman said on Tuesday.
Public investment disbursement has improved but remained below expectations, said Nguyen Van Duoc, chairman of the HCMC People’s Committee, at a conference reviewing socio-economic performance in 2025 and setting tasks for 2026 held on January 6. The city has sufficient capital but has been unable to disburse it effectively, with land clearance identified as the biggest obstacle.
“If we had done better on public investment disbursement, growth would not have stopped at 8.03%,” Duoc added.
According to the city government, gross regional domestic product rose an estimated 7.53% in 2025, or 8.03% excluding oil and gas. GRDP per capita was estimated at US$8,755.
The city expects disbursement by January 31, 2026 to reach 95% of the capital plan assigned by the prime minister and 74.5% of the plan approved by the HCMC People’s Council.
Public investment disbursement is expected to reach 95% of the capital plan assigned by the prime minister by January 31, 2026, and 74.5% of the city’s own plan.
State budget revenue in the city, on the other hand, was estimated at VND800 trillion, reaching 119% of the target set by the central Government and 115% of the target set by the city’s People’s Council. Local budget expenditure was estimated at VND239 trillion.
Duoc said public order and security were maintained in 2025, while infrastructure investment helped improve the city’s urban appearance. He described 2025 as a peaceful year, with more investors, tourists and residents coming to the city.
He also pointed to unresolved problems, including pollution, flooding, traffic congestion and drug-related crime.
Looking ahead, Duoc said Ho Chi Minh City aims for GRDP growth of 10–11% in 2026 and will accelerate both public and private investment projects, turning the city into a large construction site.
He said implementation of the two-tier local government model had produced positive results but required stronger execution, particularly in restructuring public service units.
Duoc also called for more decisive implementation of Resolution 260, which amends Resolution 98, saying the city had not fully utilised special policy mechanisms granted to it.
