HCM City business group outlines key tasks for new economic growth phase

HCM City business group outlines key tasks for new economic growth phase

The HCM City Union of Business Associations has outlined key measures to help the business community overcome challenges and sustain growth as the city expands its development space following administrative mergers and enters a new phase of accelerated growth.

Nguyễn Ngọc Hòa, chairman of the HCM City Union of Business Associations, speaks at a meeting to review its performance in 2025 and set priorities for 2026 in HCM City on January 20. — Photo courtesy of HUBA

Speaking at a meeting on January 20 to review its performance in 2025 and set priorities for 2026, Chairman Nguyễn Ngọc Hòa said the city’s socio-economic outlook is expected to remain positive, with its recovery and growth momentum continuing.

Previously introduced support policies are forecast to deliver more tangible results, while all growth drivers would continue to be strengthened, he said.

Many long-standing bottlenecks affecting enterprises, investment projects and the real estate market are being actively addressed, he said.

At the same time, several major projects with strong spillover effects are coming into operation, creating further economic growth and improving the investment environment, he said. 

The merger of administrative units has significantly expanded the city’s development space, creating favourable conditions for stronger regional linkages, improved infrastructure and market connectivity, enhanced investment attraction and the formation of new growth drivers, he said.

Efforts in parallel to streamline the administrative apparatus and unify management focal points are expected to improve governance and the business environment in the medium and long terms, he said.

“However, during the transition period, organisational restructuring and adjustments to management mechanisms and policies may generate certain difficulties.”

Despite the positive outlook, the city continues to face uncertainties stemming from global economic and geopolitical developments.

The transition towards a green and sustainable growth model, alongside the rise of green consumption and the circular economy, is placing increasing pressure on businesses to transform their operations, he said.

“In this context, HUBA has reaffirmed its operating principle of being dynamic, innovative and quick to respond to the evolving needs of enterprises.

“It aims to serve as a reliable support base, a trusted companion to businesses and an effective bridge between the private sector and government.”

HUBA will continue to consolidate and convey recommendations from enterprises to relevant authorities, contributing to improvements in institutions and policies at both city and national levels.

Nguyễn Ngọc Hòa, chairman of the HCM City Union of Business Associations, speaks at a meeting to review its performance in 2025 and set priorities for 2026 in HCM City on January 20. — Photo courtesy of HUBA

Regular activities such as the HUBA Business Café programme, trade promotion initiatives, domestic and international business networking events, conferences and seminars to enhance competitiveness, membership development and stronger internal consumption linkages among members, will be maintained and upgraded.

In terms of trade and investment promotion, HUBA plans to organise three to five business delegations to explore potential markets in 2026.

It will host exhibitions and trade fairs showcasing exemplary Vietnamese products and services to deliver greater practical value to member enterprises.

It will also cooperate with partners to organise dialogues, training courses and capacity-building programmes in areas such as corporate governance, finance, legal compliance, ESG standards, digital transformation, and innovation, helping enterprises strengthen adaptability and pursue sustainable growth.

It will coordinate with the city Department of Industry and Trade and other agencies to study policies to develop enterprises with national and global brands, which will also help draft schemes in future to foster large enterprises with international brands.

As the city rolls out the two-tier local government model and further expands its development space, HUBA has called on city leaders to continue reviewing and refining mechanisms, policies and regulations related to state management and business operations, ensuring consistency, continuity and stability.

It also recommended that relevant agencies should fully resolve issues related to taxation, land, investment, the environment, and labour, while clearly designating focal points for administrative procedures.

At the meeting, Lê Huỳnh Minh Tú, deputy director of the city Department of Industry and Trade, commended HUBA for its contributions, saying the city achieved GRDP growth of 8.03 per cent in 2025, driven in part by HUBA member enterprises. 

In the new growth phase, the city’s business community is expected to play a key role in strengthening the city’s position as a dynamic, innovative and competitive regional economic hub, Tú said. 

Bizhub