Ho Chi Minh City targets third-quarter growth of over 11%

Ho Chi Minh City will continue to implement drastic measures to achieve double-digit growth, targeting GRDP growth of at least 11.07% in the third quarter of 2026, 9.43% in the first nine months and 12.3% in the fourth quarter, with a view to completing the full-year goal of 10% or more.

Ho Chi Minh City (VNA) - Ho Chi Minh City will continue to implement drastic measures to achieve double-digit growth, targeting GRDP growth of at least 11.07% in the third quarter of 2026, 9.43% in the first nine months and 12.3% in the fourth quarter, with a view to completing the full-year goal of 10% or more, the municipal People’s Committee said on September 4.

1.jpg
Ho Chi Minh City targets third-quarter growth of over 11% (Photo: VNA)

According to the committee’s report, the city’s economy maintained positive growth in the first eight months of 2026, broadly tracking the set scenario, with many indicators posting strong increases. Total retail sales of goods and consumer service revenue reached over 1.3 quadrillion VND (48.84 billion USD), up 13.7% year-on-year.

Import-export activity remained stable, with exports reaching 65.83 billion USD, up 7.82%, and imports 72.69 billion USD, up 11.86%.

The Index of Industrial Production (IIP) rose 10.8%, with processing and manufacturing continuing to lead with an expansion of 10.8%, while mining increased 12.9%. Tourism revenue reached nearly 27.6 trillion VND, up 16% year-on-year, with 7.77 million international arrivals, up 38.5%.

FDI attraction exceeded 10 billion USD, up 167.3% from the same period last year. Of this, 467 science and technology projects attracted more than 599.3 million USD in registered capital. State budget revenue in the first eight months reached 624.76 trillion VND, equivalent to 77.6% of the estimate and up 19.2% year-on-year, or 62.4% of the city’s target of collecting more than 1 quadrillion VND for the year.

Public investment disbursement has provided an important impetus for economic growth. Hoang Vu Thanh, Director of the municipal Department of Finance, said the city has completed the allocation and assignment of its 2026 public investment plan worth 147.6 trillion VND, equivalent to 100% of the amount assigned by the Prime Minister.

A bird's eye view of Ho Chi Minh City, the southern economic hub of Vietnam (Photo: VNA)
A bird's eye view of Ho Chi Minh City, the southern economic hub of Vietnam (Photo: VNA)

By the end of August, disbursement stood at about 85.14 trillion VND, or 57.7% of the plan, higher than the national average. Progress was supported by the city’s efforts to remove obstacles facing investment projects. Difficulties have been cleared for 216 out of 921 projects, while 461 others have solutions identified, bringing the resolution rate to 23.45%.

While praising the achievements over the past eight months as the result of concerted efforts by the entire political system and authorities at all levels, as well as support from investors and businesses, Chairman of the municipal People’s Committee Nguyen Van Duoc said the workload for September and Q3 remains substantial.

He stressed that amid an urgent push to disburse 100% of public investment capital, achieve double-digit growth and collect more than 1 quadrillion VND in State budget revenue, the city must also prepare to implement the Law on Urban Development, which was passed by the National Assembly on August 24 and will take effect on October 1, 2026. Stronger measures are therefore needed to accomplish Q3 targets.

Accordingly, the city will press ahead with measures to boost growth in line with resolutions, conclusions and directions of the Party Central Committee and the municipal Party Committee.

It will mobilise and efficiently use resources for development investment, targeting more than 1.2 quadrillion VND, while accelerating public investment disbursement and key projects and removing bottlenecks related to planning, land, compensation and site clearance, construction materials and investment procedures.

It will implement measures to increase revenue, aiming for more than 1 quadrillion VND in State budget collection, step up FDI attraction to reach or exceed 11 billion USD, promote safe credit growth, support businesses and improve the investment and business environment, said Duoc.

He said the city aims to raise the public investment disbursement rate to at least 70% by the end of Q3, creating momentum for a final acceleration toward the annual target of 100% and providing an additional impetus for overall economic growth.

Alongside public investment, the municipal People’s Committee Chairman stressed the need to pay greater attention to private investment, particularly that of 15 strategic corporations and enterprises, and promptly resolve any difficulties and obstacles hindering their investment capital disbursement, he added./.

en.vietnamplus.vn

Other News

Vietnamese experts abroad join efforts to advance nuclear power development at home

Vietnamese experts abroad join efforts to advance nuclear power development at home

Held both in person and online, the seminar focused on the current status and opportunities for Vietnam’s nuclear power programme, human resources development, global trends in small modular reactors (SMRs), experience in ensuring safety and extending the operational life of nuclear power plants, and ways to mobilise Vietnamese experts abroad to contribute to the programme.

Port throughput in Hai Phong exceeds eight-month target

Port throughput in Hai Phong exceeds eight-month target

The strong performance followed a series of measures to optimise port capacity and improve the competitiveness of the city’s seaport system, with a focus on maximising the efficiency of the Lach Huyen international gateway port as new berths came into operation.

Vietnam, Mercosur begin trade negotiations

Vietnam, Mercosur begin trade negotiations

During the session, both sides reaffirmed their determination to advance the negotiations in a spirit of goodwill, with a view to reaching a balanced agreement that aligns with the interests of both Vietnam and Mercosur.

Vietnam poised to benefit from new wave of technology investment

Vietnam poised to benefit from new wave of technology investment

The successful development and production of high-end Pixel smartphones in Vietnam – a more complex process than manufacturing smartwatches and wireless earbuds – is reportedly giving Google confidence in moving its entire Pixel production out of China.

Energy infrastructure underpins marine economy development

Energy infrastructure underpins marine economy development

The integrated investment in energy infrastructure will provide a vital infrastructure foundation for effectively harnessing the marine potential, helping realise the goal of making Vietnam a strong maritime nation and achieving sustainable and prosperous development from the sea.

Ho Chi Minh City hosts International Innovation Forum and Exhibition 2026

Ho Chi Minh City hosts International Innovation Forum and Exhibition 2026

InnoEx 2026 focuses on major shifts reshaping the global economy, including artificial intelligence (AI), data, automation, green transition, international trade and new business models. It also provides a platform connecting businesses, startups, investors and solution providers, facilitating partnerships, investment and access to knowledge and technologies.

Vietnamese enterprises renew growth model to move up global value chains

Vietnamese enterprises renew growth model to move up global value chains

The resolution identifies enterprises as the centre of the renewal process, urging them to shift from cost-based competition to productivity, technology, quality and market responsiveness; from operating independently to joining industrial ecosystems; and from participating in value chains to mastering and eventually leading them.

Khanh Hoa province explores Halal ecosystem development

Khanh Hoa province explores Halal ecosystem development

Khanh Hoa aims to estabish itself as a Halal-friendly destination while supporting businesses in expanding export markets, attracting strategic partners and investors, and drawing projects from countries with strong Halal logistics, tourism, manufacturing, processing and agriculture sectors.

Data-driven land valuation to curb speculation: Experts

Data-driven land valuation to curb speculation: Experts

From a property-market perspective, Do Thi Thu Giang, National Director of Valuation and Advisory at Savills Vietnam, said the orientations under Resolution No. 21-NQ/TW could make the market more transparent and efficient, with property values increasingly tied to actual development and use potential.

Resolution No. 19-NQ/TW sets new growth drivers for Vietnam

Resolution No. 19-NQ/TW sets new growth drivers for Vietnam

Science and technology, innovation, digital transformation and AI must be translated into higher productivity rather than pursued as ends in themselves. At the same time, people should be placed at the centre of development, not merely viewed as a resource but as the ultimate objective of development policies.

Expo to open door for Vietnamese suppliers to enter US market

Expo to open door for Vietnamese suppliers to enter US market

US retail giant Target is seeking Vietnamese suppliers of household goods, home textiles, children’s products, personal care and beauty products, with a focus on companies capable of manufacturing and developing products that meet requirements on quality, design and supply chain management.

2026 Banking Sector Digital Transformation to open in Hanoi

2026 Banking Sector Digital Transformation to open in Hanoi

The annual event, which will be held on August 18-19, 2026, at the ICE International Exhibition Centre, 91 Tran Hung Dao Street, Hanoi, is expected to attract around 324 delegates and feature 21 booths representing credit institutions, payment intermediary service providers, and technology companies.

Vietnam – one of most attractive destinations for leading US semiconductor companies: expert

Vietnam – one of most attractive destinations for leading US semiconductor companies: expert

Vietnam has built a solid semiconductor and electronics industry before joining ITSI, attracting major US semiconductor companies. Intel Products Vietnam is one of Intel's largest assembly and testing facilities worldwide, while chip design companies such as Synopsys, Cadence, Marvell and Qualcomm have established engineering and research centres in the Southeast Asian country.