On October 3rd, at the regular September government meeting, held online with ministries, departments, and localities and chaired by Prime Minister Le Minh Hung , the Standing Vice Chairman of the Ho Chi Minh City People's Committee, Nguyen Loc Ha, reported on the city's socio-economic situation.
A bright spot in attracting FDI.
On August 24th, the National Assembly passed the Law on Urban Development. According to Mr. Nguyen Loc Ha, the city promptly issued directives and plans. In less than a month, the City People's Council promptly passed 25 resolutions to concretize the contents of the law, effective from October 1st, 2026, creating a basis for putting new mechanisms and policies into practice. The implementation has received attention, consensus, and positive response from the people and the business community.
According to the Standing Vice Chairman of the Ho Chi Minh City People's Committee, the city's growth in the third quarter was 9.86%; the growth rate for the first nine months reached 9.06%, making a significant contribution to the overall growth of the country.
Photo: VIET CHUNG
Several plan targets were achieved at a high rate, such as the mobilization of social investment resources, which increased by over 17% - the highest level of mobilization in recent times. City budget revenue reached approximately 84%.
In particular, FDI attraction reached over $17.8 billion, 4.2 times higher than the same period last year. This is a positive sign of business confidence in the city's investment environment, due to the mechanisms and policies that have been streamlined and strongly decentralized by the central government...
However, some growth drivers have not been fully exploited, and the production and business activities of some enterprises are still facing difficulties; the requirements for achieving double-digit growth targets, collecting 1 trillion VND in state budget revenue, and disbursing 100% of the public investment plan remain significant challenges.
According to Comrade Nguyen Loc Ha, in the last three months of 2026, the city will focus on three key objectives: double-digit growth, achieving a state budget revenue of 1 trillion VND, and disbursing 100% of the planned public investment capital.
The city has determined that Q4 growth must exceed 13.23% for the whole year to reach over 10%. The city has also clearly identified each industry, sector, project, and enterprise that has the potential to create additional growth momentum and value in Q4...
Implement interregional metro lines with a total length of approximately 90km.
Currently, the city is implementing a detailed plan for revenue collection in the last three months of the year, specifying each month and clearly identifying the source and type of revenue; this includes revenue from land, land auctions, resolving all financial obligation files, and handling outstanding revenue.
Regarding public investment disbursement in the fourth quarter, Ho Chi Minh City is determined to make up for the previous delays, identifying specific projects for monthly disbursement to disburse the remaining funds (approximately 36,000 billion VND of public investment capital) in order to achieve 100% of the assigned plan, especially regional connectivity transport projects and urban railway projects.
The city will also work alongside investors to disburse investment capital for key projects that have received investment approval under the Investment Law, such as projects in the Can Gio area, the Can Gio International Transshipment Port project, the Ben Thanh - Can Gio railway line, etc.
In addition, the city is implementing approved public-private partnership projects with strategic enterprises. These include the Rach Chiec National Sports Complex project, the Ho Chi Minh City Square and Administrative Center project, and the Can Gio - Vung Tau sea crossing project... These are projects that investors have already implemented in the city and are experiencing good disbursement. At the same time, the city is focusing on resolving administrative procedures to select investors to implement inter-regional metro projects with a total length of approximately 90km.
According to the Standing Vice Chairman of the Ho Chi Minh City People's Committee, the first phase of the project to address tidal flooding in Ho Chi Minh City, taking into account climate change factors, is expected to be operational in November, in accordance with the Prime Minister 's directives.
In addition, the city continues to concretize the Law on Urban Development: in October, it will continue to pass 36 resolutions and is determined to complete the remaining approximately 40 resolutions in the year-end session.
Source: https://www.sggp.org.vn/tphcm-lua-chon-nha-dau-tu-trien-khai-90km-metro-lien-vung-post874772.html
