The Ho Chi Minh City Statistics Office recently released a report detailing the city's gross regional domestic product (GRDP) growth. The GRDP for the first half of 2026 increased by 8.55%, with Q1 seeing an 8.57% rise and Q2 an 8.53% increase.
This figure surpasses the 7.82% growth recorded in the same period of 2025 for Ho Chi Minh City alone. When combined with Binh Duong and Ba Ria - Vung Tau, the broader economic region achieved 6.56% growth.
During the first half of 2026, the service sector remained the primary economic driver. It expanded by 8.89%, contributing 54% to the overall GRDP and accounting for 56% of the growth. Notable increases were seen in transportation, which grew by 13.68%, followed by trade at 8.4%, and finance at 8.21%. Conversely, the real estate business continued to face difficulties.
The industry and construction sector grew by 8.5%, representing 32.8% of the GRDP and contributing 30.6% to the total growth. According to the Ho Chi Minh City Statistics Office, this growth did not fully meet expectations. A positive indicator was the industrial production index (IIP), which rose by 11.1% over the six months, higher than the 8.6% recorded in the same period last year.
The business environment also improved, with newly registered enterprises increasing by 15.6% in licenses and 26.5% in capital compared to the same period. Foreign direct investment (FDI) continued to surge, reaching over 6.8 billion USD, a 114.2% increase. This included 888 newly licensed foreign investment projects with a total registered capital exceeding 1.1 billion USD.
Despite positive growth, Ho Chi Minh City faced impacts from global fluctuations, particularly rising energy prices. "The city experienced clear pressure from production costs, logistics expenses, and commodity and service prices, which affected its growth momentum," the report noted.
Over the first six months, the average consumer price index (CPI) increased by 4.41%. All groups recorded price increases, with transportation seeing the highest rise at 6.19%, followed by food and catering services at 5.78%, and housing and construction materials at 5.22%.
Additionally, public investment disbursement fell short of its targets, especially for key infrastructure projects. As of 26/6, the total disbursed public investment capital was nearly 37.300 billion VND, achieving only 25.3% of the Government's plan.
Ho Chi Minh City aims for a 10% growth rate this year. To achieve this, the city's GRDP must grow by over 11% in the second half of the year. The Ho Chi Minh City Statistics Office suggests that to boost economic efficiency in the latter half of the year, the locality needs to accelerate the implementation and disbursement of public investment capital, stimulate consumer demand, and closely monitor market price developments.
The city must also focus on resolving difficulties for businesses, especially concerning capital, production space, administrative procedures, input costs, and consumption markets. Furthermore, the city needs to improve its business and investment environment by making it more transparent, open, and efficient, while promoting digital transformation, applying science and technology, and fostering innovation to enhance labor productivity and improve growth quality.
Vien Thong
