At a meeting on 5 November 2026 reviewing October and the first ten months, the HCM City People's Committee set a target of full-year economic growth of 10.2% or more, state budget revenue above VND1 quadrillion and Q4 GRDP growth of 13.23%. The city enters the final stretch of the year with many positive indicators, especially in foreign investment.

FDI and consumption stand out

HCM City's registered FDI in ten months reached about US$19.1 billion, up 315.9%, leading the country. The industrial production index rose 11%, with processing and manufacturing up 11.4%. Retail sales and consumer services revenue exceeded VND1.67 quadrillion, up 14.7%; tourism revenue topped VND307 trillion, up 37.7%, with over 9.3 million international visitors, up 36.9%. Exports reached VND2.15 quadrillion, up 10.9%.

Budget revenue reached almost VND762 trillion, 94.8% of the annual estimate and up 16%. The city added 45,767 newly registered enterprises and has resolved 361 of 921 backlogged projects.

Public investment and infrastructure for the final quarter

Public investment disbursement reached 80.1%, or VND118.278 trillion, ranking eighth nationally. About VND29.3 trillion remains to be disbursed, roughly VND15 trillion a month. About 14 key infrastructure projects (public investment and PPP) are set to start in the last two months; six urban railway lines totalling 187 km, Ring Road 3 and the An Phu and My Thuy intersections are priorities.

Sector targets for Q4

The city targets Q4 growth of 14.14% for processing and manufacturing, 11.74% for commerce, 17.11% for construction, 19.14% for transport and warehousing, 9.99% for real estate and 10.28% for accommodation and food services. The year-end stimulus programme, including the "Vibrant HCMC" shopping season, is expected to support consumption.

Key takeaways