Development of Ho Chi Minh City’s industry: Current situation and problems posed

Abstract:

This study aims to evaluate the current state of industrial development in Ho Chi Minh City and analyze the problems posed during that development process. The research paper uses descriptive statistics method, analytial methods, evaluation and synthesis methods and use secondary data sources which was collected from Ho Chi Minh City Statistical Yearbook for the period 2010-2022. The results of the study show that since 2010 until now, the city’s industry has increased in the size of GDP contribution, the city’s industry has experienced remarkable recovery and development since the covid-19 pandemic; the industry has had a shift in the production of high-value-added products and is geared towards exports, brings revenue to the state budget, and contributes to creating jobs, increasing income and stabilizing life for workers. Besides the achieved results, in the development process, the city’s industry currently tend to reduce its share of the city’s GDP and is facing a number of limitations and difficulties. On that basis, the article proposes some recommendations to contribute to the development of Ho Chi Minh City’s industry in the near future.