Tasks of promoting economic growth in HCMC, Vietnam by 2025

Tasks of promoting economic growth in HCMC, Vietnam by 2025 (Internet image)

Tasks of promoting economic growth in HCMC, Vietnam by 2025

The People's Committee of Ho Chi Minh City issued Directive 12/CT-UBND on August 12, 2024, regarding the implementation of tasks and solutions to promote the city's economic growth until 2025, requiring the thorough dissemination and implementation of the following objectives:

(1) Achieve a GRDP growth rate of at least 7.5% in 2024 and from 8-8.5% in 2025;

(2) Strive to achieve a digital economy proportion of 22% in 2024 and 25% in 2025;

(3) Aim for the PCI, Par-Index to be within the top 10 localities in the country by the end of 2025,

(4) Achieve a total housing area of 40 million square meters or more (the target of 50 million square meters) and construct at least 26,200 social housing units (as per the target assigned by the Government of Vietnam);

(5) The Industrial Production Index (IIP) to grow by 6.5% in 2024; with 04 key industrial sectors continuing to be the growth drivers, achieving a higher growth rate than the overall growth of the entire industry; Export turnover to increase by at least 10% compared to 2023;

(6) Ensure that 80% or more of household waste is treated using new technology or recycled; develop at least 150 hectares of green parkland;

For tasks to promote public investment implementation and disbursement, and to enhance the ability to absorb investment capital, the Department of Planning and Investment is instructed to:

- Maximize the effectiveness of the activities of the Steering Committee, strictly implement reporting information policies to promptly resolve and remove difficulties and obstacles in public investment projects and works within the city;

- Solutions to mobilize social investment capital for infrastructure development to promote the city’s economic development, striving to attract 394 trillion VND in 2024 and 422 trillion VND in 2025; submit to the City's People's Committee in August 2024.

The Management Boards of Industrial Parks and Export Processing Zones, and the City's High-Tech Park are tasked with coordinating to propose solutions to resolve and promote the commencement of projects that have been approved by the city for investment, focusing on the fields of digital infrastructure, data centers, logistics, and digital technology combined with research and development. Focus on solutions to attract a total investment capital of about 50 to 70 trillion VND in the 2024 - 2025 period.

The Department of Industry and Trade is urgently assigned to advise on completing and implementing the scheme to use public building rooftops to install rooftop solar power systems.

The State Bank of Vietnam, Ho Chi Minh City branch, is tasked with coordinating to:

- Maintain sustainable credit growth; green credit incentives for renewable energy and new energy development;

- Effectively support businesses with policies closely aligned with the State Bank of Vietnam's policies on credit, interest rates, services, and administrative reforms;

- Promote the disbursement of the social housing credit package.

Additionally, effectively implement public spending, continue to stimulate consumption and the Market Stabilization Program; promote export activities; foster new growth drivers; resolve difficulties and obstacles, focus on improving the business investment environment, effectively implement administrative reform measures; promote regional economic cooperation; enhance international cooperation effectiveness; strengthen environmental protection, expand land resources for production, industry, and services, expedite the completion of social welfare projects.

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