A corner of HCM City.
Ho Chi Minh City’s gross regional domestic product (GRDP) grew by 6.56 per cent in the first half of 2025, or 7.49 per cent including crude oil, according to data released at a municipal government meeting on July 4.
The meeting, held by the Ho Chi Minh City People’s Committee, reviewed the city’s economic performance in June and outlined key tasks for the second half of the year. It was the first official meeting since the administrative merger of three former localities and the implementation of a new two-tier government model. For the first time, the event was also connected online to all 168 communes, wards, and special zones across the city.
Budget revenue exceeded VND 372 trillion (approximately USD 14.6 billion), representing nearly 53 per cent of the annual target. Foreign direct investment (FDI) reached USD 4.72 billion, up more than 32 per cent year-on-year, with nearly 1,000 new projects licensed. Disbursement of public investment totalled VND 46.6 trillion (approximately USD 1.83 billion), or close to 40 per cent of the government-assigned plan.
Among the three merged localities, Binh Duong recorded the highest growth rate at 8.3 per cent, while Ba Ria, Vung Tau grew 2.61 per cent excluding crude oil. The former Ho Chi Minh City unit posted a 7.82 per cent growth rate, the highest since 2020, largely driven by services (up 8.58 per cent) and industry–construction (up 6.7 per cent).
Chairman Nguyen Van Duoc said the newly expanded Ho Chi Minh City was entering a new phase of development, with greater potential and a renewed strategic vision. The city aims to become one of the world’s most liveable cities by 2030. Plans include continued regional zoning, policy development tailored to local conditions, and full utilisation of the advantages from the three former localities. Authorities also aim to streamline overlapping jurisdictions that have previously hindered coordination.
Regarding administrative restructuring, Nguyen Thi Thanh Hien, Director of the Department of Home Affairs, confirmed that all 168 commune-level units had held their first People’s Council sessions and completed necessary leadership appointments. The city-level People’s Council has also convened to approve the establishment of specialised departments, ensuring smooth and effective government operations.
