In recent years, Vietnam's economy has developed rapidly and become a focus of attention in Southeast Asia. However, amidst this prosperous scene, the development of Ho Chi Minh City, an economic hub in southern Vietnam, seems to have stagnated. Continuous influx from northern VietnamInvestment TideCompared to Ho Chi Minh City, the economic performance of Ho Chi Minh City has been overshadowed, and there is a significant gap in the ability to attract money between North and South Vietnam.

Ho Chi Minh City, as a former locomotive of Vietnam's economic development, has been one of the core driving forces of the Vietnamese economy for many years. However, since the outbreak of the US China trade war in 2018, the global supply chain landscape of the electronics and technology industries has undergone profound changes. Many electronic and technology manufacturers established in China have begun to adopt the "China+1" strategy, reorganizing globally to mitigate the risk of tariff penalties. In this context, northern Vietnam, with its geographical advantage of being adjacent to China, has successfully attracted a large influx of foreign investment and emerging investment cases have emerged one after another.

In contrast, Ho Chi Minh City appears to be overshadowed. In recent years, Ho Chi Minh City's economic status and influence have gradually declined, with its export contribution rate dropping from over half of the country five years ago to about one-third now. At the same time, the proportion of exports from the Red River Delta region in northern Vietnam has risen to 53% of the national total. This change undoubtedly poses a huge challenge to the economic development of Ho Chi Minh City.

Faced with this dilemma, some experts and government officials have begun to deeply contemplate and explore the development issues of Ho Chi Minh City. Chen Huangyan, Assistant Secretary of the Party Committee of Ho Chi Minh City, pointed out that Ho Chi Minh City only ranks 105th in the Smart City Index, and there is still a lot of room for improvement compared to other major cities in Southeast Asia. He emphasized that although social investment has increased in the past few years, the growth rate has significantly slowed down, which has to some extent constrained the economic development of Ho Chi Minh City.

General Secretary of the Communist Party of Vietnam, Su Lin, also paid high attention to the economic development of Ho Chi Minh City. He openly questioned during his inspection of Ho Chi Minh City why a city with such status and potential lacks effective solutions to attract investment. He suggested that Ho Chi Minh City should fully utilize its potential and advantages, introduce innovative models, adjust its economic structure, and improve quality, efficiency, and competitiveness. At the same time, it is necessary to improve the investment environment, attract domestic and foreign investment, and focus on building and achieving breakthroughs in urban infrastructure.

As one of the important cities in Vietnam, Ho Chi Minh City's economic development issues not only affect the future direction of the city, but also directly impact the overall economic pattern of Vietnam. Therefore, Ho Chi Minh City needs to take effective measures to address current economic challenges, revitalize itself, and achieve sustainable economic development.