Chairman of the Ho Chi Minh City People’s Committee Nguyen Van Duoc stated that the city’s leadership strongly supports Vietnamese enterprises registering to participate in the urban railway system. Currently, many businesses and corporations are showing interest and registering to operate in the metro.

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On the morning of June 3, the Ho Chi Minh City People’s Committee held a meeting to assess the socio-economic situation in May and the first five months of the year, outlining upcoming tasks and solutions.

In his closing remarks, Chairman Nguyen Van Duoc noted that in the first five months, the city’s economy and society experienced both advantages and challenges. Nevertheless, Ho Chi Minh City achieved many positive developments.

However, he also pointed out numerous limitations. Specifically, budget disbursement in the first five months reached only slightly over 10%, despite the city’s leaders making many decisive decisions.

He instructed the compilation of a list of key projects using large funding sources and the setting of state investment disbursement targets for each unit, locality, and project.

«Certainly, in the second quarter, state investment disbursement must reach 30%; any unit failing to meet this target will be held accountable,» emphasized Mr. Duoc.

He noted that in the near future, Ho Chi Minh City’s leadership will manage based on performance and results. If officials fail to perform, they will be replaced; the city has already reassigned some department heads.

Many Investment Procedures Are Overly Rigorous and Redundant

Additionally, although businesses have started paying attention to Ho Chi Minh City’s market and returning, many are still leaving. This indicates that administrative reforms still face many issues, with processes being overly cumbersome and complex. He believes departments must decisively eliminate inconveniences for businesses, especially in critical areas like finance and construction.

«Currently, some procedures are too restrictive and redundant. Many places fear businesses might exploit them, leading to unnecessary regulations and a negative mindset,» said Mr. Duoc.

Discussing upcoming tasks and solutions, the Chairman noted that the central government issued a «framework set» with four Politburo resolutions: 57, 59, 66, and 68.

These resolutions are important strategies to create new momentum for the country’s growth. Mr. Duoc suggested departments promptly advise the Ho Chi Minh City People’s Committee on their implementation.

In the future, Ho Chi Minh City will eliminate districts and merge provinces, requiring each department and unit to actively coordinate with neighboring provinces to develop reorganization plans.

Moreover, the Ho Chi Minh City Research and Development Institute will collaborate with consulting units to revise the city’s new layout based on approved provincial plans, updating additional sub-regions and new functions.

In the new Ho Chi Minh City, functions will be allocated as follows: Binh Duong will become an industrial center; Ba Ria — Vung Tau will focus on maritime tourism, ports, and marine services; while Ho Chi Minh City will be the center of finance and advanced technology.

The Chairman also instructed the Finance Department to immediately implement a plan for managing and reorganizing state assets after restructuring the apparatus. District units are prioritized in constructing educational and medical facilities.

Convert Public Investment into Private

Regarding funding, Mr. Duoc stated that Ho Chi Minh City will implement a plan to diversify capital sources, converting public investment into private to reduce budget pressure. The city will also restructure the Urban Railway Management into a company model.

The idea is to create a major Vietnamese corporation in Ho Chi Minh City to form Vietnamese chaebols, said Mr. Duoc.

According to Mr. Duoc, the city leadership strongly supports Vietnamese enterprises registering for the Ho Chi Minh City railway system.

Additionally, he noted that currently, besides Vingroup, Gamuda Group, and Ms. Nguyen Thi Phuong Thao’s Vietjet, other companies have shown interest and registered to build metro lines, such as from the city center to the airport or Metro Line No. 2.

«We are fortunate that Vietnamese investors, with Vietnamese hearts, blood, and dedication to this land, have registered for these projects. Building railways is not easy—spending billions while earning modest returns—yet they still want to register. Why shouldn’t we encourage them?»

Ho Chi Minh City People’s Committee

The Ho Chi Minh City People’s Committee, located in the heart of the city at the end of Nguyen Hue Boulevard, is a historic French colonial-era building constructed in the early 20th century. Originally named the Hôtel de Ville de Saigon, it served as Saigon’s city hall during French rule and later became the headquarters of the municipal government after reunification. Today, it is a prominent architectural landmark, though its interior is not open to the public.

Ho Chi Minh City

Ho Chi Minh City, formerly known as Saigon, is the largest city in Vietnam and a vibrant economic and cultural hub. It played a pivotal role during the Vietnam War as the capital of South Vietnam before reunification in 1975, when it was renamed in honor of revolutionary leader Ho Chi Minh. Today, it blends French colonial architecture, bustling markets, and modern skyscrapers, reflecting its rich history and rapid development.

Binh Duong

Binh Duong is a province in southern Vietnam, known for its rapid industrialization and economic growth in recent decades. Historically, it was part of the Nguyen Dynasty’s territory and later played a role in the resistance during the Vietnam War. Today, it is also recognized for its traditional craft villages, such as pottery and lacquerware, reflecting its cultural heritage.

Ba Ria — Vung Tau

Ba Ria — Vung Tau is a coastal province in southern Vietnam, known for its beautiful beaches, vibrant port cities, and historical significance. The area played a key role during the French colonial era and the Vietnam War, with landmarks like the Vung Tau Lighthouse and the White Palace reflecting its colonial past. Today, it is a popular tourist destination, offering a mix of cultural heritage, religious sites like the Christ of Vung Tau statue, and seaside resorts.

Vingroup

Vingroup is a leading Vietnamese conglomerate founded in 1993 by Phạm Nhật Vượng, initially in Ukraine before expanding to Vietnam. It operates in diverse sectors, including real estate, retail, healthcare, and technology, with notable projects like VinHomes, VinFast (electric vehicles), and Vinpearl (resorts). The company has played a significant role in Vietnam’s economic growth and urbanization, emphasizing innovation and sustainable development.

Gamuda Group

The Gamuda Group is a Malaysian infrastructure and property development company founded in 1976, known for its large-scale engineering projects and sustainable urban developments. It has played a key role in major infrastructure projects such as the Stormwater Management and Road Tunnel (SMART) in Kuala Lumpur and the Mass Rapid Transit (MRT) system. The company is also recognized for its eco-friendly township projects, including Gamuda Cove and Gamuda Gardens.

Vietjet

VietJet is a Vietnamese low-cost airline founded in 2007, officially launching operations in 2011. Known for its vibrant branding and budget-friendly flights, it quickly became a major player in Southeast Asia’s aviation industry. The airline is also recognized for its innovative marketing strategies, including themed flights and celebrity endorsements, contributing to Vietnam’s growing tourism and economy.

Metro Line No. 2

Metro Line No. 2 is a key subway route in many major cities, but one notable example is the Beijing Subway’s Line 2, which opened in 1984 as part of the city’s first metro system. It forms a loop around central Beijing, connecting major landmarks like the Forbidden City, Beijing Railway Station, and the financial district. As one of the busiest lines, it plays a vital role in the city’s public transportation network.