Industrial production continued to be a major growth driver. The Index of Industrial Production (IIP) in May increased 8.8% year-on-year, while the five-month figure rose 9.1%, the highest growth rate in four years. Manufacturing and processing expanded by 9.5%, contributing 7.4 percentage points to overall industrial growth.
Ho Chi Minh City was tasked with continuing to refine the two-tier local administration model in a streamlined, effective, and substantive way; stepping up decentralisation and delegation of authority alongside power control and accountability; and building quantitative criteria to assess operational effectiveness, with citizens and businesses placed at the centre of service delivery.
Prime Minister Le Minh Hung called on the Mekong Delta province of Vinh Long to move from an administrative and service-oriented mindset to a development-creating approach, while renewing leadership and governance methods in a more proactive, creative manner, with officials who dare to think, dare to act and dare to take responsibility.
Ho Chi Minh City’s GRDP could grow by an average of 10.2% annually in 2026–2030, driven by industry, construction and services. This will shift electricity demand toward high-tech manufacturing, logistics, digital infrastructure and the green economy.
Tu underscored the importance of continuing to innovate leadership methods and the organisation of implementation, while directing ministries, sectors and localities to accelerate the review and refinement of institutions, policies and legal frameworks, including at the local level, especially in economic and investment fields, to achieve the double-digit growth target.
The Government leader acknowledged challenges, including weak domestic demand, slow real estate recovery, and pressure to achieve double-digit growth, emphasising that the Government will resolutely mobilise all resources for the target of double-digit growth this year.
The entire People’s Public Security Forces, guided by the spirit of being “most disciplined, most loyal, and closest to the people,” will act with tenfold determination and lead by example in executing the Resolution of the 14th Party Congress through concrete results.
