Six strategic commitments from Ho Chi Minh City

The Prime Minister underscored the need to maintain macroeconomic stability, control inflation, ensure key economic balances, and foster growth.

He expressed his belief that Ho Chi Minh City - by drawing on its past successes and shortcomings - would elevate its role as a national economic hub and grow into a city capable of competing on the global stage.

Ho Chi Minh City People’s Committee Chairman Nguyen Van Duoc responded with a statement of commitment on behalf of the city, recognizing the importance of feedback from government officials, business leaders, and international organizations.

The city laid out six measurable, action-oriented strategic commitments aligned with its vision as a future global megacity:

First, under the revised Resolution 98, the city will actively build breakthrough institutions, unlock new resources, and strengthen its global competitiveness.

Second, it will restructure urban planning under the “3 zones – 3 corridors – 5 pillars” model, leveraging regional strengths to accelerate development.

Third, the city will operationalize Vietnam’s International Financial Center under Resolution 222/2025/QH15, striving to become a leading financial hub in Asia.

Fourth, Ho Chi Minh City will harness its cultural, historical, and creative values as key soft-power assets for economic development.

Fifth, science, technology, and innovation will be positioned as core drivers for achieving double-digit economic growth. The city will promote the "three-house" model (state – academia – enterprise), where the state provides policies and infrastructure, universities train and innovate, and businesses commercialize technologies.

Sixth, the city will further reform public administration to serve investors with transparency, integrity, and efficiency, eliminating unnecessary procedures and raising service standards.

Meeting with international finance leaders

Later in the day, PM Pham Minh Chinh held a session with representatives of international financial enterprises. He welcomed their optimistic outlook on Vietnam’s economic prospects and thanked them for their commitment and partnership.

He highlighted Vietnam’s transition economy and emphasized the nation’s demand for capital, which requires transparent institutions, smooth infrastructure, intelligent management, and pragmatic execution.

Beyond traditional growth drivers like exports, consumption, and investment, Vietnam is shifting focus to emerging sectors - particularly those requiring data infrastructure, artificial intelligence, and blockchain.

He affirmed that the government values the insights of the business community and encouraged faster, more decisive action: “If you speak it, do it. If you commit, deliver. And if you deliver, show quantifiable results.”

The Prime Minister reiterated the public sector’s role in enabling progress, and called for private enterprise to lead development. “When the state builds the foundation and businesses take the lead, both the people and the economy benefit,” he said.

He called for a bold spirit: “Turn difficulties into ease, make the impossible possible. That’s the Vietnamese spirit. That’s the spirit of enterprise standing with the nation.”

Addressing concerns about energy supply, he reassured attendees that while temporary shortages occurred in 2023 due to poor management by EVN (Vietnam Electricity), overall capacity remains sufficient. Going forward, power transmission systems will be enhanced.

In closing, PM Pham Minh Chinh pledged continued support for the business community and affirmed that actions will speak louder than words.

“We listen together, share together, act together, and win together,” he concluded.

Quoc Ngoc - Tran Chung - Dinh Tuyen