A modern Ho Chi Minh city: 50 years after liberation
- Linh Pham
- May 6
- 5 min read
This article is Part 1 of the series "Emerging Market Vietnam — The Next Big Move!"
By Linh Pham.
Fifty years ago, on April 30, 1975, the world witnessed the fall of Saigon — a pivotal moment that ended decades of war and ushered in a new era of peace and reunification for Vietnam. Fast forward to 2025, the city now known as Ho Chi Minh City has undergone one of the most remarkable urban and economic transformations in Asia.
From its roots as a colonial trading post and a battleground, it has risen to become Vietnam’s economic powerhouse, Southeast Asia’s emerging megacity, and a magnet for global investment and talent. This article explores the extraordinary journey of Ho Chi Minh City over the past five decades and outlines its vision for the future.
A Giant in Vietnam’s Economy
According to Vietnam's General Statistics Office, Ho Chi Minh City is now the largest contributor to Vietnam’s GDP, accounting for nearly 23% of national output and roughly 27% of state budget revenue as of 2023. With a Gross Regional Domestic Product (GRDP) surpassing VND 1.5 quadrillion (approx. USD 63 billion), the city far outpaces other urban centers like Hanoi (USD 40 billion), Hai Phong, or Da Nang.
But the city’s role is set to expand even further.
In a historic administrative shift, Ho Chi Minh City has formally merged with Binh Duong and Ba Ria-Vung Tau, creating a new super metropolitan region of 13.5 million people. This merged urban entity commands a combined GDP of USD 114.3 billion, making it one of the largest economic zones in Southeast Asia. This strategic move is expected to foster greater infrastructure synergy, boost industrial output, and create a more dynamic urban economy.
The most popular Expat destination in Vietnam
Ho Chi Minh City is the top destination for expatriates in Vietnam, thanks to its dynamic job market, cosmopolitan lifestyle, and growing ecosystem of startups, MNCs, and NGOs. As of 2024, the city is home to more than 150,000 expats from countries such as South Korea, Japan, France, and the U.S., with a strong presence in sectors like education, technology, real estate, finance, and logistics.
According to InterNations’ Expat Insider Survey, Ho Chi Minh City consistently ranks among the most livable cities for foreigners, praised for affordability, friendliness, and ease of settling in. The presence of international schools, healthcare centers, and vibrant culinary and cultural scenes only enhances its appeal.
A magnet for global investment
As Vietnam's economic heart, Ho Chi Minh City is a hub for foreign direct investment (FDI). In 2023 alone, the city attracted over USD 3.4 billion in FDI, according to the HCMC People’s Committee, primarily in real estate, finance, logistics, and green energy.
Major international corporations such as Samsung, Intel, Bosch, and Unilever have set up their regional offices or manufacturing hubs in and around the city. At the same time, startup incubators and innovation zones in Thu Duc City are fostering homegrown tech giants and creative entrepreneurs.
The future also points to sustainable and digital urban development as Ho Chi Minh City continues to push for smart city applications, e-governance, and green transportation solutions.
The Vertical rise of Ho Chi Minh City
The city’s skyline today is a symbol of ambition and prosperity.
Bitexco Financial Tower in District 1 — once the tallest in Vietnam — remains an iconic commercial landmark, housing banks, law firms, and luxury retail.
Landmark 81, completed in 2018, stands as Vietnam’s tallest skyscraper at 461.2 meters, ranking among the tallest buildings in Southeast Asia. Located in the upscale Vinhomes Central Park area, it is a testament to modern real estate development and luxury living.
Empire 88 Tower, part of the Empire City project in Thu Thiem, is under construction and expected to exceed 380 meters. Once completed, it will reinforce the city’s ambition to become a global financial and business center.
These developments are more than architectural feats — they signal a strategic shift in high-density, vertical urban living, allowing for smarter land use and eco-integrated design.
Urban development: Phu My Hung, Sala & the Rise of Thu Duc
Modern Ho Chi Minh City is no longer just a collection of old French boulevards and colonial buildings. It’s a carefully crafted mix of planned urban zones designed for sustainability, aesthetics, and economic function.
Phu My Hung Urban Area in District 7 was among the first masterplanned developments in Vietnam. With tree-lined streets, international schools, parks, and shopping complexes, it set the standard for high-quality urban living.
The Sala Urban Area in Thu Duc City represents the city’s next generation of sustainable development. Integrated with nature, waterways, and smart city elements, it is both a residential and commercial hub for the affluent middle class.
Thu Duc City, formed by merging Districts 2, 9, and Thu Duc, is now officially designated as a "city within a city" and envisioned to become Vietnam’s innovation and technology hub.
Metro Lines & Infrastructure Connectivity
One of the most anticipated infrastructure projects is the Ho Chi Minh City Metro. After years of construction delays, Metro Line 1 (Ben Thanh – Suoi Tien) is finally in the final stages of testing and is expected to launch in late 2024 or early 2025. The line will link District 1 with the eastern districts and reduce travel times for over 160,000 passengers per day.
More metro lines are in various stages of planning and development, including:
Line 2 (Ben Thanh – Tham Luong)
Line 3A (Ben Thanh – Tan Kien)
Line 5 (Sai Gon Bridge – Bay Hien)
Together, these are designed to ease congestion, reduce pollution, and modernize urban mobility for the city’s 9+ million residents.
Source: HCMC Urban Railway Management Board
Vision 2035 and Beyond: Becoming a global city
With the recent regional integration and rising economic might, Ho Chi Minh City is crafting a bold development vision for the next decade. Some of the city’s key goals include:
Becoming a regional financial center by 2030, offering competitive services in banking, fintech, and asset management.
Accelerating digital transformation in governance, healthcare, education, and infrastructure management.
Promoting green growth, with a shift toward renewable energy, electric vehicles, and sustainable construction.
Elevating tourism, leveraging its rich history, modern skyline, cultural vibrancy, and culinary diversity.
At the heart of this vision is a city that is inclusive, livable, creative, and globally competitive — one that preserves its past while innovating for the future.
Final Thoughts
Fifty years after liberation, Ho Chi Minh City has not only rebuilt itself, but it has also redefined what it means to be a modern Asian metropolis. From skyscrapers to startups, from metro lines to mega-regions, it is a city on the move. The integration with Bình Dương and Bà Rịa – Vũng Tàu marks a bold step into becoming Vietnam’s first true megacity, and its eyes are firmly set on regional leadership.
As the city celebrates this milestone, one thing is clear: the next 50 years hold even more promise for citizens, for investors, and for the world.
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