HCMC TARGETS VND1 QUADRILLION IN BUDGET REVENUE FOR 2026

HCMC Party Secretary Tran Luu Quang speaks at a meeting chaired by General Secretary and State President To Lam on April 27 - PHOTO: SGGP

HCMC – Ho Chi Minh City is aiming for VND1 quadrillion in budget revenue and is determined to achieve double-digit economic growth this year, said Tran Luu Quang, Secretary of the HCMC Party Committee, at a meeting on April 27.

Speaking before Party General Secretary and State President To Lam, and other top Party and State officials, Quang described the targets as a strong political commitment.

Breaking down the revenue goal, Quang said the city has set a baseline target of VND964 trillion, up about 20% against 2025. To reach the VND1 quadrillion mark, the city will need to mobilize an additional VND36 trillion. The target will not rely solely on land-related revenues but will require tapping a broader range of resources to ensure sustainability.

Quang pledged that HCMC would strive to meet its targets at the highest level, reinforcing its role as the country’s primary growth engine. Despite mounting pressure from ambitious tasks, city leaders expressed confidence, citing continued attention from the Party leadership and support from central authorities. The city also signaled its intention to seek sustained backing to help the city Party organization, government and residents fulfill their mandates.

Looking ahead, HCMC is counting on new institutional momentum, including a forthcoming Politburo resolution on the city’s development in a new era, comprehensive planning frameworks, and the National Assembly’s expected passage of a special urban law.

The city is also working closely with ministries and agencies to resolve bottlenecks facing the Vietnam International Financial Center in HCMC and to address underutilized land funds, aiming to optimize resources for development.

Source: The Saigon Times

Related News

INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT

VIỆT NAM-CAMBODIA TRADE GATHERS PACE TOWARDS $20 BILLION TARGET

Trade between Việt Nam and Cambodia continues to grow, remaining a bright spot and a key pillar of bilateral cooperation as the two countries aim to raise two-way trade to US$20 billion in the coming years. After setting a record of more than $11.3 billion last year, bilateral trade reached about $8.7 billion in the first eight months of this year, up 8.3 per cent year on year.

Oct 14, 2026

TECHNOLOGY

AI BEGINNING TO RESHAPE RECRUITMENT CRITERIA

Digital literacy is the only capability area in which fresh graduates meet employers’ expectations, according to a new report. Yet, it is also the standard rising fastest, as businesses increasingly expect new hires to use AI effectively in the workplace. Some 83 per cent of employers say AI has changed, or is beginning to change, their hiring criteria, while 94 per cent report higher expectations for digital and AI capabilities than they had two to three years ago.

Oct 14, 2026

INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT

ĐÀ NẴNG GREEN-LIGHTS US$105 MILLION THAI DEVELOPMENT DEAL

The central city has approved an investment proposal by Thailand’s WHA Group to develop infrastructure for the 400ha WHA Đà Nẵng Industrial Park project on two communes of Thăng Bình and Đồng Dương, with an investment of more than VNĐ2.7 trillion (US$105 million). The city said it approved WHA Industrial Development International's status as an investor in the project, which is expected to take place between 2027 and 2034.

Oct 14, 2026

VIETNAM ECONOMY INVESTMENT

MOBILE PHONE EXPORTS RISE 20% TO $51.8 BILLION IN FIRST NINE MONTHS

Exports of mobile phones and components rose 20 per cent year-on-year to nearly US$51.8 billion in the first nine months of 2026, with China, the US and Republic of Korea accounting for more than half of the total. Shipments to the three markets reached a combined $26.18 billion, or 50.6 per cent of total exports of the product group during the period, according to data from the Vietnam Department of Customs under the Ministry of Finance.

Oct 14, 2026

VIETNAM ECONOMY INVESTMENT

FRUIT AND VEGETABLE EXPORTS POISED TO HIT $10 BILLION IN 2026

Fruit and vegetable exports are on track to reach nearly US$10 billion in 2026, after rising 19.9 per cent year on year to nearly US$7.4 billion in the first nine months, driven by strong seasonal demand and abundant tropical fruit supplies. The Ministry of Agriculture and Environment said the growth reflected stronger international demand for fresh produce and processed agricultural products.

Oct 14, 2026

GARMENT / TEXTILE

TEXTILE EXPORTS FACE DUAL CHALLENGES OF SUSTAINING ORDERS AND BOOSTING EFFICIENCY AMID GROWING COMPETITION

Data shows that the textile and garment sector maintained its growth momentum in the first nine months of this year. The industry's total export turnover reached an estimated US$35.721 billion in the first nine months of this year, up 3.3 per cent year-on-year. Despite posting encouraging export figures, Vietnamese textile and garment enterprises continue to navigate unpredictable market variables.

Oct 14, 2026