Thriving City of Ho Chi Minh after 50 years of reunification: perspectives from a city administrator
Rewritten Article:
Ho Chi Minh City, commonly known as Saigon, has transformed dramatically since Vietnam's reunification in 1975. From a city ravaged by conflict, it has risen to become one of Southeast Asia's most dynamic metropolises. Reporter Bồ Xuân Hiệp from Việt Nam News chats with Võ Văn Hoan, vice chairman of the municipal People's Committee, about the city's journey and future aspirations.
What are your thoughts on HCM City's development since 1975?
Back in 1975, HCM City was reeling from the chaos of conflict, struggling with underdeveloped infrastructure, a struggling economy, and stretched social services. But the City's resilient spirit set the stage for a remarkable turnaround.
One of the city's most significant post-reunification achievements has been its economic growth. An important milestone came in 1985 when 70 American business representatives visited, marking a new era in global engagement for HCM City. The shift towards a market economy in the late 1980s, known as "Đổi Mới" (Renewal), accelerated this transformation.
Võ Văn Hoan, vice chairman of HCM City People's Committee. VNA/VNS Photo
Now, the city is home to thousands of businesses, startups, and multinational corporations. It stands as Việt Nam's economic powerhouse, contributing about a fifth of the national GDP. The city also maintains solid relationships with 58 cities globally and participates actively in various international organizations.
Which sectors have been driving this development?
Over the past five decades, HCM City has emerged as a bustling metropolis powered by key sectors like manufacturing, services, technology, logistics, and more. Its manufacturing sector, focusing on textiles, electronics, and food processing, has generated jobs and supported both local and international markets.
The city's significant trade landscape thrives owing to its strategic location and advanced logistics, making it Việt Nam's largest economic hub. Additionally, the services sector, including finance, real estate, and tourism, has grown exponentially.
Passengers on HCM City's inaugural metro train, which began operation at the end of 2024. - VNS Photo Bồ Xuân Hiệp
Infrastructure advancements have also been a game-changer. The recent opening of the city's first metro line signifies a step towards a modern public transit system. HCM City is also striving to become a global tech hub, fostering innovation in science, technology, and entrepreneurship to drive growth. With a keen eye on the future, the city aims to launch 5,000 new start-ups by 2030 and has already attracted over half of the nation's start-ups.
Ranked 111th in the 2024 Global Startup Ecosystem Index, the city stands third in Southeast Asia after Singapore and Jakarta. Ambitiously, it seeks to reach the top 100 by 2030 and establish itself as a regional start-up powerhouse.
What role does culture play in the development of HCM City today?
Beyond its economic achievements, HCM City boasts a rich cultural renaissance. The city's diverse history and vibrant culture are what set it apart. As a melting pot of various influences, HCM City showcases a unique blend of traditional Vietnamese culture combined with modern global trends.
Local and foreign tourists at the War Remnants Museum in HCM City, one of its main cultural landmarks, honouring the past and history of the nation. VNS Photo Bồ Xuân Hiệp
Cultural events, art exhibitions, and food festivals are popular among locals and visitors alike. Landmarks like the War Remnants Museum and Reunification Palace pay homage to the past while contemporary galleries and theaters highlight the creativity of the city's youth. Cultural exchange programs celebrate the city's ethnic diversity, fostering inclusivity and enriching its social fabric.
What are some challenges facing the city in the near future?
Despite its successes, HCM City grapples with challenges such as traffic congestion, pollution, housing shortages, and more. Rapid population growth has led to housing shortages that place strain on the city's infrastructure, while traffic congestion plagues daily commutes. Moreover, pollution and climate change pose significant threats that require green solutions to ensure a healthier future. Healthcare services are also under pressure, with the increasing number of residents seeking medical care.
The city works tirelessly on comprehensive plans to improve public transportation, strengthen green spaces, and provide affordable housing. Closing the economic disparities between various social groups is of paramount importance, ensuring equal access to opportunities for all.
What does the future hold for the city?
The city envisions a future built on innovation and inclusivity, where technology plays a key role in improving governance and service delivery. The goal is to create a more functional and transparent administrative system. Its vision is to empower citizens, promote equality, and ensure that the benefits of growth are shared by all.
By 2045, the city aims to be a leading economic, financial, and innovative hub in Southeast Asia, enhancing its global presence through diplomatic creativity. With a strategic location, a youthful workforce, and a growing consumer market, it also intends to become an International Financial Centre (IFC) within the next five years.
With a rich history, a vibrant economy, and a commitment to sustainable development, the city is poised for an exciting future where no one is left behind.
Sources:
- Wikipedia - Ho Chi Minh City
- BBC News - Ho Chi Minh City economy booming
- World Bank Group - Vietnam Development Update, June 2020
- VnExpress International - Ho Chi Minh City strives to become startup hub
- Statista - Gross domestic product of Ho Chi Minh City by year 2015-2020
- Võ Văn Hoan highlights the City's resilient spirit post-reunification that set the stage for remarkable economic growth.
- In 1985, the visit of 70 American business representatives marked the beginning of a new era in global engagement for HCM City.
- The shift towards a market economy in the late 1980s, known as "Đổi Mới", accelerated the transformation of HCM City.
- Today, the city is home to thousands of businesses, startups, and multinational corporations.
- The manufacturing sector, focusing on textiles, electronics, and food processing, has generated jobs and supported local and international markets.
- HCM City's significant trade landscape thrives due to its strategic location and advanced logistics, making it Vietnam's largest economic hub.
- The services sector, including finance, real estate, and tourism, has grown exponentially in HCM City.
- Infrastructure advancements, such as the opening of the city's first metro line, signify a step towards a modern public transit system.
- HCM City is striving to become a global tech hub, fostering innovation in science, technology, and entrepreneurship.
- Closing the economic disparities between various social groups is crucial for ensuring equal access to opportunities for all in HCM City.
- By 2045, the city aims to be a leading economic, financial, and innovative hub in Southeast Asia.
- The city also envisions a future built on innovation and inclusivity, where technology plays a key role in improving governance and service delivery.
- With a rich history, a vibrant economy, and a commitment to sustainable development, the city is poised for an exciting future where no one is left behind, highlighting the importance of addressing challenges like traffic congestion, pollution, housing shortages, and healthcare services.
