People shop at Co.opmart Supermarket in HCM City. — Photo chinhphu.vn

HCM CITY — HCM City’s gross regional domestic product (GRDP) is forecast to expand by approximately 8.03 per cent in 2025, outpacing the national average and reaffirming the city’s role as a leading growth engine for the country.

Speaking at the opening session of the sixth meeting of the 10th-tenure municipal People’s Council on December 9, Chairman Võ Văn Minh said the city had completed the consolidation of administrative units at all levels, implemented the two-tier local government model, and achieved notable socio-economic progress in 2025.

The city’s total GRDP value for 2025 is estimated at VNĐ2.74 quadrillion (US$103.93 billion), accounting for 23.5 per cent of national GDP. GRDP per capita is projected to reach $8,066 USD. Foreign direct investment inflows are expected to total $8.16 billion, representing a 21.1 per cent increase year-on-year. Trade and services continued to perform strongly, with total retail sales of goods and consumer service revenue rising by 13.5 per cent, reflecting improved purchasing power and market confidence. The industrial production index is estimated to grow by 9 per cent.

State budget revenue for 2025 is projected at around VNĐ746.44 trillion, 109.6 per cent of last year’s figure, 111.4 per cent of the assigned target and 107.3 per cent of the target set by the municipal People’s Council, accounting for 31.2 per cent of nationwide collections. Local budget revenue is estimated at about VNĐ533.85 trillion.

Local budget expenditure is forecast at approximately VNĐ282.06 trillion, providing crucial resources for infrastructure investment, social welfare and improving living standards. The city recorded the establishment of 59,750 enterprises, with total newly registered and additional capital estimated at over VNĐ2 quadrillion.

According to the municipal People’s Committee, HCM City has put into operation numerous key infrastructure and transport projects in 2025, as well as major works to prevent riverbank and canal erosion. It has also drawn up plans to implement the Cần Giờ International Transshipment Port project and the Soai Rap River dredging project.

The city is reviewing detailed planning for its port land and water areas and has completed a proposal on further developing and modernising the Cái Mép-Thị Vải International Gateway Port into the country’s largest transshipment hub with regional and global standing. It has also submitted to the municipal People’s Council plans to allocate preparatory investment capital for seven urban railway lines and two metro lines No 1 and No 2 in Bình Dương. — VNS