HCM City (VNA) - Ho Chi Minh City has set an economic growth target of over 10% for 2026, based on favourable international conditions and the early impact of the amended Resolution 98 on special mechanisms and policies for the city.
The goal was announced at a conference reviewing socio-economic development in 2025 and outlining tasks for 2026, held on January 6.
Addressing the event, Chairman of the municipal People’s Committee Nguyen Van Duoc stressed that the growth target of 10-11% set for 2026 is extremely ambitious, requiring strong determination from the entire political system, as well as greater efforts to ensure sustainable growth and maintain significant contributions to national development. Nguyen Khac Hoang, head of the city’s Statistics Office, noted that the city’s growth in 2026 is forecast at around 8.5-9%. However, the higher target is intended to create strong momentum for sustainable development throughout the 2026-2030 period.
According to him, achieving double-digit growth will require substantial efforts from all sectors. Agriculture must strive for growth of over 3%, industry and construction for 10-11%, and services for around 11%. In addition, total social investment needs to reach approximately 880 trillion VND (33.5 billion USD); public investment disbursement must achieve 100%; outstanding credit should grow by over 15%; and state budget revenue by around 8%.
The amended Resolution 98 opens a significant new space for Ho Chi Minh City to accelerate. The remaining challenge lies in implementation, he said, adding that the city must maintain growth momentum at around 9% as recorded in the fourth quarter of 2025, stabilise it through the first quarter of 2026, and avoid repeating the low-growth pattern seen in the first half of previous years.
Chairman Duoc said that, acting decisively from the beginning of the year, the city has set 26 city-level targets, 30 commune/ward-level ones, and 10 key priorities.
In economic terms, six major targets have been identified, including GRDP growth of over 10%, GRDP per capita of 9,800 USD, total social investment accounting for about 30% of GRDP, total factor productivity contributing around 60% of GRDP, the digital economy making up 30% of GRDP, and total social expenditure on research and development reaching 2-3% of GRDP. Average labour productivity growth is targeted at around 7.5% per year.
For urban development and environmental protection, seven targets have been set, including transport land accounting for 16% of urban construction land, 50% of urban wastewater collected and treated, public park land reaching 0.8 sq.m per capita, forest coverage at 10.74%, 28,500 social housing units completed, average housing floor area reaching 27.69 sq.m per person, and the relocation and clearance of 1,900 substandard and canal-side houses.
It also strives to collect over 805 trillion VND in State budget revenue in 2026, ensure that public investment disbursement exceeds 95% of allocated development investment capital, and attract around 11 billion USD in foreign direct investment (FDI).
Reviewing 2025, the municipal chairman described it as a year marked by intertwined challenges and opportunities. Despite difficulties, the city made strong, concerted efforts and achieved important and commendable results. GRDP grew by 7.53%, GRDP per capita reached 8,755 USD, total retail sales and consumer service revenue rose 15.5%, tourism revenue increased 36.1%, and overall socio-economic performance recorded many positive highlights, laying a solid foundation for the ambitious goals set for 2026./.
VNA
