Chairman Nguyen Van Duoc said the city is growing well, but there are some problems. He talked about this at a meeting on August 12 to discuss the city's economy.

City leaders are worried about some things, especially because HCMC wants to have double-digit economic growth.

From January to July, 34,096 new businesses started, which is 22.81% more than last year. But 7,483 businesses closed, which is 158.66% more, and 31,321 stopped working for a while, which is 10.51% more.

Only 12,221 businesses started working again, which is 2.87% less than last year. So, over 38,800 businesses left the market in the first seven months.

Chairman Duoc said this is a problem that needs attention and it affects the city's growth target.

HCMC needs to grow around 11% in the third quarter and 11.8-12% in the fourth quarter to meet its growth plan.

Duoc said these targets are very high, especially since more businesses are leaving than starting, the city has a trade deficit, and public investment is slow.

He told the relevant agencies to find out what is stopping the city's growth, especially in public and private investment, and to look at new projects.

Duoc also asked the agencies to find out why the city is importing more than it is exporting.

HCMC is setting priorities for the rest of 2026.

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HCMC's imports are still more than its exports.

The city has some priorities for the rest of the year.

First, HCMC will try to spend its public investment money faster and fix problems with projects.

Second, the city will help businesses get credit and find new markets.

Third, HCMC wants to grow its economy by over 10% and have a lot of investment.

The economy is still doing well in some areas.

Even though many businesses closed, the city's economy is still strong in some areas.

Foreign trade is helping the city grow. Exports were $57.84 billion, which is 8.77% more than last year.

The city's industrial production grew 10.7%, with manufacturing and processing leading the way.

The finance and banking sector is stable, with a lot of money being invested.

Foreign investment is also growing strongly, with over $9.8 billion invested in the first seven months.

The city's budget revenue was $22.1 billion, which is 71.6% of the target and 20.7% more than last year.

HCMC is working on many big projects worth around $30 billion.

The city developed a lot of residential space and issued many construction permits.

Tourism is also growing, with revenue of $9.1 billion, which is 55.3% more than last year.

Many tourists visited the city, with 7.13 million international arrivals and 31.65 million domestic travelers.

Phuoc Sang