Ho Chi Minh City is entering the final stretch of 2026 with high determination to achieve its set socio-economic development goals. On November 5, the People's Committee of the city held a conference to evaluate the socio-economic situation of October and the first ten months of the year, while outlining key tasks and solutions for November 2026.
Boosting consumption and promoting production
In the first ten months of 2026, Ho Chi Minh City maintained positive growth momentum across various sectors. However, to achieve the economic growth target of 10.2 percent or higher and state budget revenue exceeding VND1 quadrillion ($39.4 billion), the city needs to continue expanding markets and promoting business activities.
Director of the Department of Finance Hoang Vu Thanh stated that to achieve the budget revenue target, the city will coordinate closely with Tax, Customs, and Treasury agencies to monitor revenues and expenditures while effectively tapping revenue sources.
Public investment disbursement remains a top priority for Ho Chi Minh City in the final months of the year. With a disbursement rate of 80.1 percent in the first ten months, the city ranks eighth nationwide. To achieve 100 percent disbursement of the public investment plan, municipal departments, sectors, and project owners must review every project and package to clearly identify the causes of delays and assign specific responsibilities.
Deputy Director of the Department of Construction Huynh Thanh Khiet noted that Ho Chi Minh City plans to commence approximately 14 key infrastructure projects in the last two months of the year, including both public investment and public-private partnership (PPP) projects.
Foreign direct investment (FDI) represents a bright spot in Ho Chi Minh City's economic landscape in 2026, with total registered capital reaching approximately $19.1 billion, an increase of 315.9 percent year-on-year.
The city is also focusing on removing bottlenecks and accelerating key transport infrastructure projects such as Ring Road 3, as well as the An Phu and My Thuy intersections. Notably, the city is implementing six urban railway lines totaling 187 km to enhance connectivity and drive urban development.
Identifying the fourth quarter of 2026 as a decisive period, the city has implemented comprehensive solutions to stimulate consumption, expand commerce and services, and boost industrial production capacity.
Director of the Department of Industry and Trade Bui Ta Hoang Vu stated that the year-end 2026 and Lunar New Year 2027 stimulus program will feature major shopping events such as Vibrant HCMC - Shopping Season. This program integrates commerce, tourism, culture, and sports, encouraging businesses to offer combined product packages and cross-promotions.
Striving for 13.23 percent GRDP growth in Q4
Chairman of the Municipal People's Committee Nguyen Van Duoc emphasized that the last two months of the year are critical for achieving the socio-economic development goals of 2026. He urged all departments, sectors, and localities to decisively implement assigned tasks, striving for a GRDP growth rate of 13.23 percent in the fourth quarter, state budget revenue exceeding VND1 quadrillion ($39.4 billion), and 100 percent public investment disbursement.
To achieve 13.23 percent GRDP growth in the fourth quarter, the city has set specific growth targets for key sectors: processing and manufacturing at 14.14 percent; commerce at 11.74 percent; construction at 17.11 percent; transportation and warehousing at 19.14 percent; real estate at 9.99 percent; and accommodation and food services at 10.28 percent.
Regarding public investment, Chairman Nguyen Van Duoc stated that approximately VND29.3 trillion ($1.15 billion) must still be disbursed during the remainder of the year, averaging nearly VND15 trillion ($590 million) per month. This demanding task requires a thorough review of project feasibility to allow for flexible capital allocation.
The city is determined to reallocate capital away from slow-moving or unviable projects toward high-performing projects capable of absorbing additional capital. Additionally, the city also focuses on accelerating the disbursement of both FDI and private domestic investment.
The Chairman requested the prompt implementation of the "5-in-1" stimulus program, enhancing cross-sector coordination among industry, trade, tourism, culture, and sports to attract residents and tourists, thereby driving consumer spending.
Regarding the national health check-up program, the city leadership directed the health sector to work closely with local police, the Labor Federation, and district authorities to accelerate implementation in the final two months of the year, with special emphasis on organized health check-ups for industrial workers.
In the first ten months of 2026, Ho Chi Minh City's socio-economic landscape maintained strong momentum. The Industrial Production Index (IIP) rose 11 percent year-on-year, led by an 11.4 percent growth rate in processing and manufacturing. Total retail sales of goods and consumer service revenue reached over VND1.67 quadrillion ($65.7 billion), up 14.7 percent.
Tourism revenue exceeded VND307 trillion ($12.1 billion), up 37.7 percent, after welcoming over 9.3 million international visitors (up 36.9 percent). Export turnover reached VND2.15 quadrillion ($84.8 billion), up 10.9 percent.
State budget revenue reached nearly VND762 trillion ($30 billion), equivalent to 94.8 percent of the annual estimate and up 16 percent year-on-year. FDI attraction led the nation at $19.1 billion. By the end of October, public investment disbursement reached VND118.278 trillion ($4.66 billion), or 80.1 percent of the annual plan. The city also registered 45,767 newly established enterprises and resolved difficulties for 361 out of 921 backlog projects.
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