Used to be called the Pearl of the Far East or Saigon, Ho Chi Minh City is still a centre of Vietnam in various areas and attracts a large number of investors and tourists.

Modern HCM City

HCMC is among localities with the highest economic growth rates in the country, contributing 20.2% of GDP; 26.1% of industrial production; 29.38% of budget collection and 44% of FDI projects in Vietnam.

Last year, the city attracted over 4.1 million of foreign guests, accounting for 55% of the total figure of the country. The tourism sector brought back nearly VND83.2 trillion in revenue or 44% of the country’s total figure.  

This year, HCMC indents to welcome 4.4 million of foreign arrivals.

The southern city also serves as an important transport hub of Vietnam and the Southeast Asian region.  

However, the city also is facing with numerous challenges such as environmental pollution, transport overloading, poor services as well as social evils.  

According to the Master plan for socio-economic development through 2020, with a vision towards 2025, Ho Chi Minh City will strive to become a multi-functioning economic, social and cultural centre with modern infrastructure system by 2020.

It plans to develop facilities for the education and training, science-technology, healthcare, and sports sectors in accordance with national and regional standards up until 2030.

The city targets GDP growth ranging from 10-10.5% between 2011 and 2015, 9.5-10% in the 2016-2020 period and 8.5-9% in the five subsequent years. The GDP per capita will reach US$8,430-8,822 by 2020.