WNAM REPORT: As Vietnam enters a new development phase, Ho Chi Minh City continues to assert its role as the country’s economic powerhouse, not only through its contributions to national growth but also as a pioneer in innovation and transformation.
This spirit is most evident in its business community, where enterprises are taking bold steps to adapt, lead, and build sustainable futures.
According to Pham Phu Ngoc Trai, Chairman of GIBC and PRO Vietnam, HCM City has never waited for perfect conditions to act.
Instead, it has consistently forged ahead, opening new paths. Its pioneering nature is a conscious choice which is driven by a commitment to build and grow alongside the country.
Experts believe that, with a strong foundation built over 50 years since national reunification, the local business community will continue to be a driving force in innovation, green transformation, and digitalisation.
Among them are 50 newly recognised exemplary enterprises that represent the city’s key industries and flagship products.The Saigon Trading Group (SATRA), which has played a central role in the city’s economic development since its founding in 1995.
As it prepares for the 2026-2030 restructuring phase and equitisation under municipal guidance, SATRA is reinforcing its focus on core sectors, including commerce, processing, export-import, and investment.
With affiliates like Vissan and Cofidec and partnerships with global brands such as Heineken Vietnam, SATRA aims to expand its international presence.
To support this ambitious plan, SATRA is investing in export development strategies that leverage the benefits of free trade agreements while enhancing product value through compliance with international quality and origin standards.
It also maintains an active representative office in Japan to strengthen trade relations and promote HCM City products abroad.
Cholimex Food, another leading enterprise based in the southern metropolis, is capitalising on over 40 years of experience to reinforce its market leadership in sauces and frozen food.
Committed to sustainable growth, the company recently inaugurated its second factory in early April, aimed at improving logistics and boosting production for export.
This expansion aligns with global market trends and enhances Vietnam’s international brand visibility.
Currently, HCM City’s businesses contribute over 50% of the city’s GRDP, 67% of total investment, and 25% of national import-export turnover.
Many of these enterprises have built strong domestic reputations and are increasingly succeeding in international markets.
The city authorities recognise private enterprises as a key force for sustainable development.
In response, HCM City is prioritising high-tech industries, innovation, and green growth. It will continue to support flagship businesses in expanding global markets and actively engage them in policymaking and economic planning.
Despite global economic uncertainties and rising trade protectionism, including challenges from US tax policies, HCM City is determined to maintain its 8.5% growth target.
It is diversifying growth drivers, strengthening traditional pillars such as trade and investment, while advancing new engines like green production and high-tech industry.Public-private partnerships and co-creation models are at the heart of the city’s development strategy.
Regular dialogues between government and businesses are encouraged, with firms viewed as development partners rather than merely regulated entities.
Deputy Chairman of the municipal People’s Committee Vo Van Hoan affirmed that, with unified leadership, public support, and business engagement, HCM City will create breakthrough momentum “for the country, with the country.”
The city remains committed to its role as a key driver of national progress and aims to become a leading economic and financial hub in Asia.
Future policies will focus on green and circular economies, digital transformation, and innovation. Reforms will also target administrative procedures, foreign investment attraction, and faster public investment disbursement, especially for major infrastructure projects, laying a stronger foundation for business growth.
By fostering a dynamic and equitable business environment, HCM City is paving the way for its enterprises to thrive in the new era, helping bring Vietnamese products and innovations to the global stage.
