Ho Chi Minh City aims to achieve at least 10.4 per cent GRDP growth in 2027 by combining traditional growth drivers with major initiatives such as its International Financial Center and digital transformation.
The targets were announced at a city conference on October 26 to implement resolutions of the fourth plenum of the 14th Party Central Committee.
The city considers the objective a foundation for implementing the Resolution of the 14th National Party Congress and the city Party Congress Resolution for the 2025–30 term.
The conference was chaired by Trần Lưu Quang, member of the Political Bureau and Secretary of the city Party Committee, and connected online to 168 wards, communes and special zones.
People’s Committee chairman Nguyễn Văn Được said 2027 should be a breakthrough period that builds momentum for the whole term.
The city plans to develop the International Financial Center, free trade zones, seaport and logistics services, science and technology, innovation, digital transformation and strategic transport infrastructure.
It has set 76 indicators for 2027, including 38 key socioeconomic targets. GRDP per capita should reach US$10,561.
Total social investment is projected to average about 35 per cent of GRDP. Total Factor Productivity should contribute roughly 56.6 per cent of GRDP, alongside annual labour productivity growth of about 8.5 per cent.
The digital economy is expected to account for 30 to 40 per cent of GRDP. Research and development spending should reach 2 to 3 per cent of GRDP, while 4 to 5 per cent of budget expenditure is planned for science, technology and digital transformation.
The city aims to provide 36 hospital beds, 19 doctors and 32 nurses per 10,000 people. It also plans to build 57,567 social housing units and clear or relocate 11,813 makeshift houses along canals and waterways.
Transforming Party building and governance
The conference included action plans on municipal governance and administrative reform. All agencies must follow the “six clear” principle: a clear lead agency, task, timeline, output, authority and resources.
By 2030, the city aims to have standardised job descriptions for 100 per cent of leadership positions. Managerial cadres will be evaluated quarterly and annually through a digital appraisal system.
The city plans to groom 30 to 40 per cent of young cadres under 42 for key leadership pools and require 100 per cent of civil servants to undergo digital competency training.
The city aims to maintain its position as the nation’s economic powerhouse and host events within the framework of APEC 2027.
Sources: Viet Nam News
