Ho Chi Minh City strives to become a city that embodies advanced global values

A corner of Ho Chi Minh City (Photo: Hoang Trieu)

1. By the end of November 2024, the Rach Dia Bridge was opened to traffic, facilitating travel between Nha Be District and District 7. Rach Dia Bridge’s completion also marked the beginning of a 60-day peak period, for the city's transportation sector to finalise important traffic projects ahead of the Lunar New Year 2025.

In the context of globalisation and the fourth Industrial Revolution, to better serve citizens and businesses, digital transformation and administrative reform have become key tasks aimed at enhancing the effectiveness and efficiency of state management.

Vo Ngoc Quoc Thuan, Director of the Ho Chi Minh City Department of Home Affairs, stated that the city is streamlining its organisational structure for more effective operations.

The National Assembly’s Resolution No. 98/2023/QH15 stipulating special mechanisms and policies for Ho Chi Minh City's development has provided new momentum for the city.

A double-decker bus tour in Ho Chi Minh City (Photo: VNA)

According to Pham Tuan Anh, Head of the General Planning Department at the municipal Department of Planning and Investment, Resolution No. 98 outlined 44 special mechanisms. Of those, 29 have already been implemented by the city and showing initial positive results in 20 mechanisms, and nine others are still in progress.

The city is proposing areas to implement the Transit-Oriented Development (TOD) model and promote public-private partnership (PPP) projects in the healthcare and education sectors.

The city has allocated 3.794 trillion VND for its poverty reduction programme, to benefit tens of thousands of borrowers. It has also set aside 1.5 trillion VND in public investment to support interest rates for economic-social development projects funded by the Ho Chi Minh City Finance and Investment Company (HFIC). Notably, the city has issued 23 project categories calling for investment via Public-Private Partnership (PPP) in culture and sports.

Every year, Ho Chi Minh City contributes about 20% to the national Gross Regional Domestic Product (GRDP) and accounts for approximately 25% of national budget revenues.

Tran The Thuan, Director of the municipal Department of Culture and Sports, indicated that the city is calling for investment in 40 projects, with 23 approved by the People’s Council, including many key large-scale projects at the Rach Chiec National Sports Complex and Phu Tho Racecourse. These projects are expected to become new symbols of Ho Chi Minh City in the future.

2. The Politburo’s Resolution No. 31-NQ/TW dated December 30, 2022, which outlines directions and tasks for Ho Chi Minh City's development until 2030, with a vision towards 2045, sets targets that by 2030, the city should transform into an industrial hub with modern standards and by 2045 be on par with major cities in the region and reach continental standards.

To achieve these strategic goals, Nguyen Van Nen, Politburo member and Secretary of Ho Chi Minh City's Party Committee believes that alongside sustainable development solutions, the city has identified comprehensive green transformation as the core task, industrial transformation as the driving force, digital transformation as a breakthrough task, and development cooperation as an important and inevitable task.

Over the past five years, the city's economy has continued to develop steadily. The city has also established its role as an economic, financial, commercial, and scientific-technology hub, driving innovation in the region and the country.

However, despite these achievements, shortcomings remain in the city’s industrial sector, seen through high reliance on outsourcing and assembly, low added value, outdated technologies from over three decades ago and misaligned distribution of export processing zones and industrial parks.

At the 2024 Ho Chi Minh City Economic Forum, held under the theme ‘Industrial Transformation: A New Driving Force for Sustainable Development, delegates emphasised that the city’s industrial transformation must be closely linked to neighbouring provinces in Southeast and Mekong Delta regions and across Vietnam.

The city should continue to leverage its potential and advantages to develop the industry as a science and technology innovation centre nationwide while effectively using land resources, high-skilled human resources, and outcomes of the Fourth Industrial Revolution, to enhance productivity and quality across industrial sectors.

3. On August 17, 2024, Ho Chi Minh City had the honour of welcoming Party General Secretary To Lam. During this visit, the Party leader expressed his confidence in the city's future growth.

Party General Secretary To Lam (tenth from left) at a working sesion with leaders of Ho Chi Minh City on August 17, 2024 (Photo: VNA)

Party General Secretary To Lam affirmed that Ho Chi Minh City should be envisioned as a global city with smart, modern and dynamic development and integration, and green, inclusive and sustainable growth while embodying advanced values from around the world.

The Ho Chi Minh City Party Committee and the political system must deeply understand the city’s role and position while fostering greater unity and political determination to seize opportunities and overcome challenges.

With its rich history and revolutionary tradition, Ho Chi Minh City has consistently demonstrated resilience against difficulties through youthfulness and creativity. By harnessing these positive traditions alongside support from the Party, ministries, sectors, and people nationwide, it is believed that Ho Chi Minh City will continue to thrive and gain further success in the coming time.