HCM City posts 7.64 percent GDP growth in first quarter
Ho Chi Minh City’s economy remained on the growth in the first quarter of this year, said Chairman of the municipal People’s Committee Nguyen Thanh Phong at a review meeting in early April.
A corner of Ho Chi Minh City - Illustrative image (Source: VNA)
HCM City (VNA) – Ho Chi Minh City’s economy remained onthe growth in the first quarter of this year, said Chairman of the muni💜cipalPeople’s Committee Nguyen Thanh Phong at a review meetin🎀g in early April.
The city’s Gross Regional Domestic Product (GRDP) in Q1 reached 324.5trillion VND (14 billion USD), an increase of 7.64 percent. However, the services and agricultural sectors reported slowergrowth than in the same period last year, Phong said. He added that the development potential of the services sector,which accounted for 63.1 percent of the city economy, remains large. The city attracted 2.25 million foreign tourists in the period, anincrease of 14.1 percent year on year. Meanwhile, total foreign investment in the city in Q1 reached 1.55billion USD, up 20.4 percent over the same period last year.
Specifically, 254 projects worth 288.80 million USD were newly-licensed, up 23.3 percent in volume and 4.3 percent in value.
The real estate sector lured the most, accounting for 52.7 percent. It was followed by science and technology (19.4 percent); wholesale, retail, and repair of automobiles, motorbikes, and other motorised vehicles (14.8 percent); manufacturing and processing (8 percent); lodging and dining services (1.9 percent).
During the period, 53 projects raised their capital with a total investment of 62 million USD, up 20.5 percent in volume and 15 times the value against last year.
The city allowed 799 foreign investors to buy stakes in domestic firms with a registered capital of 1.2 billion USD, marking a 19.8 percent rise in volume and 19.2 percent hike in value.
Also in Quarter 1, the total registered and additional domestic capital neared 215 trillion VND (9.34 billion USD), up 9.7 percent year-on-year.
There were over 8,600 newly-established firms with a total registered capital of more than 147 trillion VND, up 2.4 percent in volume and 46 percent in value.
Over 23,100 enterprises registered additional capital at a combined value of upwards of 67.8 trillion VND.𓄧-VNA
Ho Chi Minh City attracted over 1.55 billion USD in foreign direct investment in the first quarter of this year, up 20.4 percent year-on-year, according to the municipal People’s Committee.
Remittances to Ho Chi Minh City were estimated to reach 1.2 billion USD in the first quarter of this year, said Nguyen Hoang Minh, Deputy Director of the State Bank of Vietnam’s branch in the southern largest economic hub.
The People’s Committee of Ho Chi Minh City is seeking approval from the Ministry of Planning and Investment to expand the Can Gio coastal tourist site from 600 to 2,870 hectares.
Standing Vice Chairman of the People’s Committee of Ho Chi Minh City Le Thanh Liem held a working session with Kyle Kelhofer, country manager for Vietnam, Laos and Cambodia of the International Finance Corporation (IFC), on April 5.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
A corner of Ho Chi Minh City - Illustrative image (Source: VNA) 
