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Prime Minister Phạm Minh Chính recently had a working session with three provinces and cities: Ho Chi Minh City, Bà Rịa – Vũng Tàu, and Bình Dương, emphasizing the need for these localities to promote high growth while ensuring sustainability.
In particular, he stressed the importance of properly preparing the administrative boundary rearrangement, implementing the spirit of the organizational apparatus reform to create new development space, enhancing digitization, reducing administrative procedures, eliminating intermediaries, and lowering costs for people and businesses.
Economic Scale of the Three Provinces and Cities Accounts for Nearly 24% of National GRDP
In the Southeastern economic region, the three provinces—Ho Chi Minh City, Bà Rịa – Vũng Tàu, and Bình Dương—are localities with relatively strong growth rates. Notably, the economic scale of these localities ranks them among the top 10 in the country, with a significant gap compared to many other provinces and cities.
According to the General Statistics Office, the economic scale (GRDP) for 2024 at current prices of these three provinces is 2.71 trillion VND, accounting for nearly 24% of the current total economic scale of 11.5 trillion VND (476.3 billion USD).
Of this, Ho Chi Minh City leads the country with 1.78 trillion VND; Bình Dương ranks third, just behind Hanoi, with 520.205 trillion VND, and Bà Rịa – Vũng Tàu has an economic scale of 417.306 trillion VND. These three localities are home to vibrant economic activities, large-scale investment projects, and production initiatives.
Ho Chi Minh City leads the nation in attracting FDI, with a cumulative total of nearly 59 billion USD by 2024. Many major projects are being implemented, such as the establishment and development of financial centers, high-tech zones, innovation centers, and especially infrastructure projects.
These include the T3 Tan Son Nhat airport terminal project, the Ring Road 3 connecting Ho Chi Minh City, Đồng Nai, Bình Dương, and Long An; the Ho Chi Minh City – Mộc Bài expressway; the Ho Chi Minh City – Thủ Dầu Một – Chơn Thành expressway; the Bến Lức – Long Thành expressway; and the expansion of Ring Road 2 to the Biên Hòa – Vũng Tàu expressway.
In addition, Bình Dương has risen to second place in the country in attracting foreign investment. As of 2024, the province has attracted nearly 43 billion USD, with many high-tech, logistics, industrial production, urban areas, and infrastructure projects such as Lego, Ring Road 4 of Ho Chi Minh City, mechanical and IT industrial zones.
Additionally, Bà Rịa – Vũng Tàu is attracting many large projects to become a hub for renewable energy, offshore wind power supply chains, petrochemicals, liquefied gas, biotechnology industries, seaports, high-tech zones, and tourism.
This includes expanding container port clusters in Cái Mép, the Biên Hòa – Vũng Tàu railway, upgrading Côn Đảo airport, projects in Long Sơn, Hồ Tràm urban area, and the Long Sơn Mỹ Xuân general cargo port.
Expanding When the Space Is Tight, Connecting Infrastructure and Value Chains
