Ho Chi Minh City is developing along three corridors and five pillars: industry; commerce, services and tourism; international finance center; science, technology and innovation; and education and healthcare. "Saigon ward has many advantages to achieve these goals," said Nguyen Van Duoc, chairman of the Ho Chi Minh City People's Committee (HCMC PC), at the first Party Congress of Saigon ward on 19/8.
Saigon ward was established on 1/7, by merging Ben Nghe ward with parts of Da Kao and Nguyen Thai Binh wards. It covers 3.04 km2 and has a population of over 47,000.
This is the core area of Ho Chi Minh City, with many iconic streets: Nguyen Hue, Dong Khoi, Le Loi, Le Duan, Ham Nghi and historical architectural works: Notre Dame Cathedral, Central Post Office, Municipal Theatre, associated with the centuries-long history of Saigon - Gia Dinh - Cho Lon.
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Chairman of the HCMC PC Nguyen Van Duoc speaks at the Saigon Ward Party Congress, morning of 19/8. Photo: An Phuong |
Chairman of the HCMC PC Nguyen Van Duoc speaks at the Saigon Ward Party Congress, morning of 19/8. Photo: An Phuong
Economically, the ward is the core of the city center and the base of the city's administrative agencies. It concentrates on many business types: commerce, services, finance, logistics and high-end tourism, with nearly 10,000 businesses and about 4,000 business households. It is also the locality with the largest contribution to the city's budget and has the highest per capita income.
According to Mr. Duoc, Ho Chi Minh City aims to be among the top 100 most livable cities in the world by 2030, with a vision to become a world-class megacity by 2045. To achieve this, wards, communes, and special zones must work together, with Saigon ward playing a key role.
The head of the city's administration said Ho Chi Minh City will develop an International Finance Center with an area of nearly 800 ha, of which 146 ha are in Saigon ward, the rest in Ben Thanh ward and Thu Thiem. Saigon ward currently has an existing financial center with active foreign exchange, digital transactions, finance, and logistics.
In the next term, Saigon ward is positioned as the city's financial and high-end commercial service hub, leveraging its central location, favorable investment environment, and unique values. The ward will attract strategic investors, financial groups, banks, hotels and high-end services domestically and internationally. Therefore, the local government must create conditions and solutions to develop and improve the quality of financial, banking and related services.
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A corner of downtown Ho Chi Minh City, 7/2025. Photo: Quynh Tran |
A corner of downtown Ho Chi Minh City, 7/2025. Photo: Quynh Tran
"Saigon ward is a special cell in Ho Chi Minh City's orientation to develop into an international megacity," Mr. Duoc said. Saigon ward also has the advantage of a high-quality workforce, attracting many experts to live and work. The local government needs to focus on promoting this advantage to contribute to the development goals.
At the congress, Nguyen Tan Phat, Secretary of Saigon ward, said that in the next term, the ward aims to develop its economy towards high-end commerce, tourism, services, and international finance. This aligns with its advantageous central location, favorable investment environment, and unique values.
The ward aims to become the financial, commercial and service center of Ho Chi Minh City, attracting strategic investors, financial groups, banks, hotels and high-end domestic and international services to establish headquarters and representative offices.
According to Mr. Phat, to attract financial experts to live and work, solutions are needed to develop duty-free shopping centers, tax refunds, and supporting high-end education and healthcare services. In addition, the work permit process for experts needs to be simplified to attract qualified personnel.
Le Tuyet
