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HCMC’s 3 Development Projects Until 2025

T141| HCMC's Three Development Projects From 2020 to 2025 Featured ImageImage Source: ZhaoVN

After many years of brainstorming and planning, Ho Chi Minh City (HCMC) is now a step closer into making major developments happen in the next five years. HCMC’s Three Development Projects planned by HCM City Party Committee Congress was approved by the delegates on 14 October 2020.

HCMC’s Three Development Projects from 2020 to 2025

According to VnExpress, the 11th Party Committee Congress in Ho Chi Minh City (HCMC) announced the socio-economic development plan and key activities of Vietnam’s largest city in the next 5 years. Three development plans and one key development plan are the four main elements for accelerating the urban development of Ho Chi Minh City. HCMC’s three development projects include: urban planning management and innovation, infrastructure development, human resources and cultural development, and there will be more than 20 projects under its umbrella.

HCMC's Three Development Projects Until 2025 City Landscape
Image Source: VnExpress

Urban Management and Innovation

In terms of urban management and innovation, HCMC will actively develop and customise management policies applicable to urban areas. Also to maintain Vietnam’s dominant position in many fields, and then propose the urban budgets based on needs to promote resource development. HCMC has established 12 projects and 2 action plans, including: adjusting the budget ratio, urban management and planning, development of Thủ Đức, smart city, land planning, development of creative urban areas, etc.

Infrastructure Development

Ho Chi Minh City also plans to develop an infrastructure system to create a good environment and conditions for social and economic development, and to connect the southern key economic zone with other regions. In order to achieve this goal, HCMC has proposed 9 projects and 3 action plans. It includes construction of transportation infrastructure from 2020 to 2030, development of logistics industry, flood control and wastewater treatment, solid waste treatment plan, development of service infrastructure, development of residential areas, etc.

Human Resources and Cultural Development

In terms of human resources and culture, HCMC hopes to make breakthroughs in high-quality human resources, and to train Ho Chi Minh City’s human resources to meet 8 international standard areas. These include: communication and information technology, automated intelligent machinery, company management, financial industry, health, tourism, urban management, and to promote shared universities and improve opportunities for higher education.

In the next 5 years, Ho Chi Minh City will set an average annual gross domestic product (GRDP) target of 8-8.5% and maintain the service industry above 60%. By the end of 2025, GRDP is expected to reach US$8,500-9,000; create new jobs for 700,000 workers (an average of 140,000 workers per year), with an unemployment rate of less than 4%; and reach the ratio of 21 doctors and 42 hospital beds per 10,000 people.

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