HCMC – The government of HCMC has set an ambitious target to achieve a gross regional domestic product (GRDP) growth rate of 8-8.5% in 2025.
Phan Van Mai, chairman of the HCMC People’s Committee, has signed a directive outlining the tasks and solutions needed to drive the city’s economic growth through 2025, setting forth six ambitious goals.
Specifically, HCMC eyes a GRDP growth rate of at least 7.5% in 2024 and 8-8.5% in 2025. The digital economy is projected to account for 22% of the city’s economy in 2024 and 25% in 2025.
The city also seeks to rank within the top 10 provinces and cities nationwide regarding the Provincial Competitiveness Index (PCI) and Public Administration Reform Index (PAR) by the end of 2025.
In terms of housing, HCMC plans to achieve a total housing area of 40 million square meters or more, with at least 26,200 social housing units to be built.
Other key targets include a 6.5% spike in the Index of Industrial Production (IIP) for 2024 and a minimum 10% increase in export value. Additionally, the city aims to process or recycle at least 80% of household waste using new technologies and develop a minimum of 150 hectares of green parkland.
To meet these goals, the city government has outlined several key tasks and solutions. These include accelerating public investment disbursement, enhancing capital absorption, ensuring effective public spending, stimulating consumer demand, and implementing market stabilization programs.
Further efforts will focus on improving the investment environment, implementing administrative reforms, promoting regional economic development, enhancing international cooperation, strengthening environmental protection, expanding land for production and services, and expediting public welfare projects.
