Ho Chi Minh City, Viet Nam's economic engine, is among 10 major cities worldwide that have experienced especially strong wealth growth over the past decade (from 2012-2022).
According to the leading international residence and citizenship by investment advisory firm Henley & Partners, the southern metropolis is emerging as Asia's next big millionaire hotspot.
Rapidly expanding sectors in the city include financial services, textiles, technology, electronics, telecoms, chemicals, and tourism, the firm highlighted.
Ho Chi Minh City covers an area of more than 2,060 sq meters with a population of 8.9 million people as of last October. It is home to 22 districts including one that has become a city (Thu Duc), 16 urban districts and five suburban districts.
From 2010 to 2020, the city's economy grew 2.7 times and its GRDP doubled. Its GRDP expanded 9.03percent in 2022, announced the municipal Statistics Office.
All three main components of the city's economy reported a rise. Specifically, the agro-forestry-fishery sector improved by 3.74 percent, the industry-construction sector has surged by 12.92 percent and the service sector increased by 8.37 percent.
By 2030, the city targets to achieve annual economic growth of 8-8.5 percent, with the GRDP per capita reaching about US$14,500, and the digital economy making up 40 percent of its GRDP./.
Thuy Dung
