The government has issued an action plan to implement Politburo Resolution No. 31-NQ/TW, which outlines the goals and tasks for the development of Ho Chi Minh City to 2030 with a long-term vision to 2045.

Under the resolution, Ho Chi Minh City is expected to become a modern service and industrial city, a locomotive in terms of the digital economy and the digital society, and a center of economy, finance, trade, and science and technology in Vietnam by 2030.

It is also envisioned to soon become a center of economy, finance, services, culture, education and training, science and technology, and innovation in Southeast Asia and Asia while boasting a level of competitiveness comparable to global cities.

The southern city is expected to post annual growth of 8-8.5 per cent and annual per capita gross regional domestic product (GRDP) of about $14,500, and contribute 40 per cent to Vietnam’s GDP by 2030.

By 2045, it will have become comparable to major cities around the globe, an economic, financial, and service center of Asia, a nucleus of the region and the southern region, a growth engine of Vietnam, and a magnet for international financial institutions and enterprises.

In order to fulfill the targets, the government’s action plan set out tasks and measures for relevant departments, agencies and authorities in Ho Chi Minh City, focusing on developing its economy rapidly and sustainably on the basis of renewing the growth model, restructuring the economy, improving productivity and international competitiveness, and mobilizing and effectively using all resources.

Investment will prioritize infrastructure development.