HỒ CHI MINH CITY’S ECONOMY IN 2018 – THE GROWTH OF ECONOMY HAS ACHIEVED ITS GOAL BUT LOWER THAN THE EXPECTATION

Abstract

The economic development of Ho Chi Minh City (HCMC) occurred during the period of fast and complicated changes happening in the international and regional context. Although the world economy has been growing better, it still faces many risks and uncertainties due to financial and monetary instability, geopolitical instability and international security due to populism and protectionism. In Vietnam, the activities of signing and negotiating several free trade agreements as well as the efforts of anti-corruption from the government have not only brought many opportunities but also challenges for Vietnam's economic development in general and for HCMC’s one in particular. Based on the official data of the General Statistics Office of Vietnam, HCMC Department of Statistics and data from other reliable sources, this article analyzes the HCMC’s economic situation in 2018 in the context of international, regional and domestic development to see the achievements, limitations and point out the causes of the problems and then recommend some development policies for HCMC in 2019 onwards.

Keywords: economic growth, the economy of HCMC, industries, sectors