Ho Chi Minh City targets increasing its per capita income by 3.7% in 2025 to VND204.3 million, equivalent to over US$7,850 at current exchange rates.
It is 57% higher than the government's national GDP target of over $5,000 this year.
This represents the worth of products and services generated by the economy for each individual within a specific year.
In 2024, the city's average income reached $7,600, equivalent to over VND197 million, placing it as the second highest among the six centrally-administered cities, just after Hai Phong.
In the national context, it secured the third position regarding the cost of living, coming right after Hanoi and Quang Ninh based on the spatial cost of living index (SCOLI) for 2024.
The SCOLI, conducted by the General Statistics Office, highlights the discrepancies in pricing for products and services across different areas.
SCOLI in Ho Chi Minh City was 99.8% compared to that of Hanoi. Various products within the city, including apparel, dining services, cultural activities, leisure options, tourist attractions, travel, and home appliances, were less expensive than their counterparts in Hanoi.
However, accommodations, tuition fees, and medical care costs were higher.
In addition to aiming for a higher per capita income, Ho Chi Minh City also targets revenues of VND520 trillion, seeks to achieve a public spending disbursal rate of 95%, and plans for exports totaling $52.6 billion.