Ho Chi Minh City Ranks 81st in Global Cities Index, Driven by Economic Growth

Ho Chi Minh City has made a significant leap in the 2026 Global Cities Index, climbing 81 places to capture attention. The index, compiled by the U.K.-based Oxford Economics, assesses 1,000 of the world's largest cities across five categories: economics, human capital, quality of life, environment, and governance, with HCMC scoring 62.6 points. The city's strength lies particularly in the "economics" category, where it ranks among the top 150 cities globally. As Vietnam's export engine and home to the nation's largest port, HCMC's economic growth is a key driver. Oxford Economics projects the city to be among the 50 fastest-growing cities in the next five years, noting its attractiveness for foreign direct investment (FDI). Recent years have seen record highs in FDI, fueling expansion in manufacturing, including higher-value electronics, and business services. This economic dynamism is crucial for Vietnam's one-party system, where growth underpins political legitimacy. HCMC's role as an economic powerhouse is vital for national development. In the context of diversifying supply chains, Vietnam has seen increased investment, with HCMC benefiting significantly. The ranking coincides with HCMC's expansion and institutional framework development. The National Assembly recently passed the Urban Development Law, effective October 1, which includes provisions for HCMC's new legal mechanisms starting September 1. This law emphasizes decentralization and delegation, granting cities more autonomy in resource management while enhancing accountability, and is seen as a foundational element for major city development. Following its merger with Binh Duong and Vung Tau, HCMC is now Vietnam's most populous city with over 14 million residents, an economy valued at $128 billion, and a GDP per capita of $9,000. The city aims to be among the world's top 100 cities by 2030 and a leading international megacity in Southeast Asia by 2045. However, the decline in "quality of life" and "environment" rankings highlights areas for improvement. Over the next five years, HCMC plans to focus on pollution control, air quality management, environmental sanitation projects, relocating canal-side housing, and urban area upgrades. Information source: VnExpress International