On July 2, 1976, the former Saigon–Gia Dinh was officially renamed Ho Chi Minh City in honour of President Ho Chi Minh. Fifty years later, it has become Vietnam's economic powerhouse, accounting for 23.5% of the country's GDP. In 2025, the city posted a GRDP of nearly 3 quadrillion VND (approximately 115 billion USD), with per capita income reaching 8,755 USD.
Prime Minister Le Minh Hung held a working session with the Standing Board of the Ho Chi Minh City Party Committee on June 13 to discuss the city’s socio-economic development, the implementation of double-digit growth targets, and development tasks in the coming period.
In a recent interview with the Vietnam News Agency on the threshold of the 80th National Day (September 2), Thayer, a renowned Vietnam specialist, highlighted the country’s robust economic growth since “Doi moi” (renewal). Although the COVID-19 pandemic posed formidable challenges, the economy rebounded quickly, posting GDP growth of 5.3% in 2023 before accelerating to nearly 7.1% in 2024. This year, the Vietnamese Government eyes 8% in economic expansion, with expectations to move towards double-digit growth in subsequent years.
