HCM City records strongest quarterly growth in a decade

HCM City records strongest quarterly growth in a decade

HCM City’s economy grew 9.86 per cent in the third quarter from a year earlier, its strongest quarterly growth in about a decade, the city’s Statistics Office said.

HCM City’s skyline. The city’s economy grew 9.86 per cent in the third quarter from a year earlier, its strongest quarterly growth in about a decade. — VNA/VNS Photo

HCM City’s economy grew 9.86 per cent in the third quarter from a year earlier, its strongest quarterly growth in about a decade, the city’s Statistics Office said.

The growth lifted the city's gross regional domestic product (GRDP) in the first nine months of 2026 to 9.06 per cent year-on-year.

Services remained the main driver, growing 9.95 per cent in the third quarter and accounting for 51.9 per cent of overall growth. Industry and construction expanded 10.17 per cent, while agriculture, forestry and fisheries grew 3.4 per cent.

Foreign investment also surged. Registered foreign direct investment (FDI) reached US$17.2 billion in the first nine months, up 4.2 times from the same period last year.

The figure included more than $9.35 billion in newly registered capital and over $4.9 billion in additional capital for existing projects. Foreign investors also registered more than $2.9 billion through capital contributions and share purchases.

Total investment in the city’s economy reached an estimated VNĐ510.3 trillion ($19.4 billion) in the first nine months, up 10.2 per cent year-on-year.

The strong performance brings the city closer to its target of more than 10 per cent economic growth this year. But it faces a tougher test in the final quarter, when GRDP growth of more than 13 per cent is needed to meet the target.

GRDP growth stood at 8.57 per cent in the first quarter and 8.53 per cent in the second before accelerating in the third.

The city plans to speed up public investment, attract more FDI and boost production, exports, consumption and services in the final months of the year.

Tourism and retail are also expected to receive a boost from festivals and preparations for the Lunar New Year holiday.

The city will focus on removing obstacles facing businesses, accelerating major projects and attracting higher-value investment as it seeks to sustain faster economic growth. 

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