Ho Chi Minh City celebrates 50 years with eyes on a global horizon
It has been 50 years since the Saigon - Gia Dinh region adopted the name of President Ho Chi Minh. Backed by the recent Resolution 09-NQ/TW of the Political Bureau of the Communist Party, the metropolis of over 14 million inhabitants projects its transformation towards a knowledge economy, ecological innovation, and the consolidation of an International Financial Center with a view to 2045.
Ho Chi Minh City (VNA) - Half a century has passed since the Saigon - Gia Dinh region was officially renamed in honor of President Ho Chi Minh, a historic designation that synthesizes the aspirations of the people and the avant-garde spirit of Southern Vietnam.
Ho Chi Minh City celebrates 50 years with eyes on a global horizon (Photo: VNA)
On the eve of a new era of development and backed by the recent Resolution 09-NQ/TW of the Political Bureau of the Communist Party of Vietnam, issued on May 19, 2026, the metropolis undertakes a strategic transformation with a centennial vision: to consolidate itself as a global megacity and a leading hub in economy, finance, and innovation in Asia.
Recalling the milestones of five decades ago, Associate Professor Dr. Ha Minh Hong, member of the Ho Chi Minh City Historical Sciences Association, recalled that the original proposal for the name change was signed by 57 prominent intellectuals and personalities from the South. This act reflected the sentiment of millions of citizens and served as a commitment of loyalty to the Fatherland after years of war devastation, becoming the engine of the material and spiritual reconstruction of the locality, he noted.
Likewise, Pham Chanh Truc, former chairman of the municipal People's Council, emphasized that the historical strength of the city lies in the communion of ideals between the Party's guidelines and the unanimous support of the masses, a key factor in overcoming the complexities of the postwar period.
During the most severe years of the post-reunification period, marked by shortages and economic isolation, the city demonstrated its resilience through pragmatic reform initiatives. Associate Professor Dr. Phan Xuan Bien recalled the supply brigades that defied the trade restrictions of the time to ensure the livelihood of 3.5 million inhabitants. Similarly, state-owned enterprises in sectors such as textiles and consumer goods drove market-oriented manufacturing plans, laying the practical foundations that nurtured the Doi Moi (Renovation) guideline adopted nationally at the 6th Party Congress in 1986.
The results of these reforms were reflected in the balance of the 1986-2010 period, during which the city's gross regional product (GRDP) grew at an average annual rate of 10.5%. With less than 9% of the country's total population, the city contributed more than 21% of the national gross domestic product (GDP) and nearly 30% of the general budget revenue, also pioneering the implementation of free trade zones, high-tech parks, and large-scale road infrastructure projects. These achievements earned it the distinction of "Heroic City" in 2005.
Today, transformed into a megacity of over 14 million inhabitants, the traditional competitive advantages based on low-cost labor and intensive expansion of real estate capital show signs of exhaustion, facing institutional bottlenecks and challenges of connectivity and environmental sustainability.
In response, Resolution 09-NQ/TW of the Political Bureau sets goals for the 2026-2045 period: to sustain GRDP growth of 10% per year, achieve per capita income of $75,000, raise the Human Development Index (HDI) above 0.9, and achieve net-zero carbon emissions, projecting the city as a node of influence on the continent by 2045.
To make this scenario viable, Dr. Tran Du Lich, an economics specialist, argued that the transition must be definitively oriented towards a knowledge economy, digital innovation, and ecological transition. The expert stressed that the institutional framework must anticipate technological change through the use of experimental regulatory mechanisms (sandboxes) applied to emerging sectors such as fintech, artificial intelligence (AI), and the establishment of an International Financial Center, all supported by administrative reform under the new Special City Law.
With this modernization plan, the metropolis seeks to strengthen its status on the global economic map without losing its historical identity.
VNA/VNP
