Over 20 ‘Steel Fists’ with 180 trillion VND of Ho Chi Minh City People’s Committee After Merger: Which Sector is the ‘King’?

After the merger of Binh Duong and Ba Ria – Vung Tau provinces into Ho Chi Minh City in 2025, the Ho Chi Minh City People’s Committee oversees more than 20 major enterprises, boasting a total asset value of 180 trillion VND. Leading this group is the Becamex IDC, with nearly 58 trillion VND, accounting for 32% of the total assets. Real estate and construction companies like Resco and Saigoncons play significant roles in urban infrastructure development and resettlement projects. The State Financial Investment Company of Ho Chi Minh City (HFIC) manages a diverse investment portfolio, including the lottery sector. The Saigon Trading Corporation (Satra) reigns in the commerce field with revenue surpassing 8.9 trillion VND and significant participation in the beer industry through its joint ventures with Heineken. Lastly, the Saigon Tourist Corporation (Saigontourist) stands out with its renowned hotels and revenue reaching nearly 6 trillion VND.