Ho Chi Minh City (HCMC) with the population around 7.1 million has been regarded as the center of economic and trade of Vietnam. In 2008, the city’s economic growth was 11 % with the total export reached 24.8 billion USD, GDP: USD 17.33 billion and which contributed 23% of the Vietnam GDP. The city’s development in 2007 was the highest economic development in the world after Shanghai, Singapore and Mumbay. As the main port in Vietnam, HCMC has facilitated export transaction valued about USD 14.2 billion or showed an increase of 13.1% as well as import transaction of 7.2 billion with an increase of 4.7% compared to the year 2006.
In investment field, Ho Chi Minh City showed a devastating increase of domestic and foreign investment. A total revenue from the investment sector counted about 8.25 billion dollar with 505 projects in 2008. The key foreign investors come from South Korea, Japan, Singapore and Taiwan. Up to now, there have been some 2.834 projects invested in Ho Chi Minh City with the total capital USD 26.26 billion.
An increasing number of foreign trade representatives every year have shown the dynamic of the economic development in HCMC. In 2007 there are 2421 foreign trade representatives from 60 countries with 300.000 activities in business sector which include hi tech industries, electronic, building materials, agro products, constructions, trade and services as well as 15 industrial parks, software park and high tech park and 50 banks and 20 insurance companies.
In recent years, HCMC has focused its development priority in tourism sector and infrastructure. With the effort from the city’s authorities and its society, there were 2.8 million foreign tourist came to the city in 2008 made up 70% that of Vietnam. The factors supporting foreign tourists come to HCMC are among others the security factors, the tidiness, and the friendly environment that the city provides.
Though the centralistic character of the government of Vietnam can also be considered as one factor on the success of tourism development sector. It is nevertheless important to note that the city’s effort to provide excellent human resources to continue and at the same time to catch up with the high development through education sector is one of their priorities.