Chairman of the Ho Chi Minh City People's Committee Phan Van Mai issued Directive No 19, on January 2, emphasizing strengthened administrative discipline and resolute action towards achieving the city's 2025 socio-economic development goals.

The Directive sets an ambitious target of exceeding 10% Gross Regional Domestic Product (GRDP) growth rate and meeting or surpassing all 22 socio-economic targets for 2025.

The city Institute for Development Studies (HIDS) will develop a double-digit growth scenario by January 2025.

To fund these goals, the city's  Department of Planning and Investment is tasked with mobilizing at least VND600 trillion ($23.6 billion) in investment capital for 2025, with approximately VND112 trillion ($4.4 billion) from the city's budget and VND488 trillion ($19.2 billion) from private sector

The city’s estimated 2025 budget revenue is over VND520 trillion (nearly $20.5 billion), a 7.71% increase over 2024, while local budget expenditure is estimated at VND156.451 trillion (nearly $6.2 billion), a 10.58% increase.

Ho Chi Minh City exceeded its 2024 revenue target, becoming one of the highest-revenue localities contributing significantly to the national budget.

The city achieved a total estimated state budget revenue of VND508.553 trillion (over $20 billion) in 2024, reaching 105.32% of its target and marking a 13.3% increase compared to 2023.

This record performance makes Ho Chi Minh City the first and only locality in Vietnam to surpass VND500 trillion in revenue.