The Ho Chi Minh City Statistics Office reported that local growth in QIII reached 9,86%, and 10,08% when excluding crude oil. The service sector contributed over half (51,9%) of this growth, expanding fastest at 9,95%. Industry and construction saw a 10,17% increase, while agriculture, forestry, and fisheries grew by 3,4%.
Positive growth in QIII boosted the nine-month GRDP by 9,06% compared to the same period in 2025, placing Ho Chi Minh City 6th among the nine centrally-governed cities. The service sector maintained its role as the primary growth engine, expanding by 9,27%, contributing 53,6% to overall growth and making up 51,8% of the city's GRDP.
Doctor Truong Minh Huy Vu, Vice Chairman of the Ho Chi Minh City People's Committee and Director of the Ho Chi Minh City Institute for Development Studies, stated that economic growth in QIII and the first nine months marked the highest level in the past 10 years. He highlighted foreign direct investment (FDI) attraction and strong performance in logistics and services as key factors positively influencing overall growth.
However, achieving the full-year growth target of over 10% places significant pressure on QIV. Given that GRDP for the first three quarters reached 8,57%, 8,53%, and 9,86% respectively, QIV growth must exceed 13% to meet this ambitious goal.
On 22/9, Ho Chi Minh City Party Secretary Tran Luu Quang emphasized that for the final three months of the year, the city must focus on achieving double-digit growth, collecting one quadrillion dong in budget revenue, and disbursing 100% of public investment capital plans. He noted that while these are significant challenges, the opportunities to achieve them are also substantial.
Tran Luu Quang stated that a key opportunity involves fully leveraging mechanisms from the Urban Development Law, effective from 1/10. The city will also concentrate on resources such as FDI, public investment, private investment, and exports. Specifically for private investment, the focus will shift decisively from attracting projects to implementing them.
Truong Minh Huy Vu emphasized that Ho Chi Minh City must focus on streamlining and effectively attracting three core capital sources: public investment, private investment, and FDI. Crucially, these funds need to be disbursed, channeled into production and business, and genuinely integrate into the economy to foster growth.
Beyond investment resources, the local economy anticipates an additional boost from a series of events, festivals, and preparations for Tet (Lunar New Year), which are expected to stimulate consumption, shopping, tourism, and services.
Vien Thong
