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