Ho Chi Minh City's economy is recovering and regaining its form

NGỌC LÊ |

On January 7, 2025, the Department of Industry and Trade of Ho Chi Minh City held a summary of 2024 and deployed the work program for 2025.

Speaking at the conference, Mr. Nguyen Van Dung - Vice Chairman of Ho Chi Minh City People's Committee assessed that in 2024, there will be contributions from associations, business communities, and industries to help the economy recover and regain its form.

However, the industry and trade sector still faces many difficulties such as transportation costs, fluctuating foreign exchange rates... Therefore, plans and solutions are needed to overcome them.

In 2025, Ho Chi Minh City identified the theme of streamlining the apparatus, digital transformation, focusing on removing difficulties and obstacles to realize the goal of the nation's rising era.

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Mr. Nguyen Van Dung - Vice Chairman of Ho Chi Minh City People's Committee spoke at the conference. Photo: Ngoc Le

Mr. Bui Ta Hoang Vu - Director of the Department of Industry and Trade of Ho Chi Minh City said that in 2025, the industry and trade sector will focus on developing the processing and manufacturing industry associated with smart technology and digital transformation to improve productivity, quality, efficiency and competitiveness of the city's industry. Implement solutions to support businesses through implementing programs to support business and product development.

The industry and trade sector will also effectively exploit the domestic market; implement regional linkages through organizing consumer stimulus programs, concentrated promotion programs, supply-demand connection programs between Ho Chi Minh City and provinces and cities... to support businesses in expanding and developing the market.

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Mr. Bui Ta Hoang Vu - Director of Ho Chi Minh City Department of Industry and Trade. Photo: Ngoc Le

The city's industry and trade sector continues to support businesses in finding import and export markets to serve production, participating deeply in the global supply chain. Implementing the project to build Ho Chi Minh City into a large service center of the country and the region with high-class, modern, high-value-added services. Project to build an international exhibition center in Ho Chi Minh City. Focusing on investing in developing a synchronous logistics infrastructure system connecting with economic centers, in which it is expected to build and start construction of at least 1 logistics center in Ho Chi Minh City...

In 2024, the Ho Chi Minh City Industry and Trade sector had 5 bright spots. First, the industrial and wholesale and retail trade sectors will continue to be the main growth drivers of the Ho Chi Minh City economy in 2024.

Second, supporting businesses to expand and find markets is a key solution to help businesses overcome difficulties.

Third, the city's industry and trade sector has implemented many solutions to support businesses with expanded targets and increasingly improved efficiency, such as the bank-business connection program, the 2024 Vietnam typical export goods fair, the "branded goods promotion - City Sale" event, etc.

Fourth, many solutions to improve administrative reform and digital transformation indicators have been implemented drastically and effectively.

Fifth, 2024 is also a year of many breakthroughs in policy advisory work.

NGỌC LÊ
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