City gross domestic product (GDP) between January and September grew 6.1 percent year on year, a “positive sign” of economic recovery, according to HCMC officials.
To reach the new target of 7.5 percent, growth must hit 10.3 percent in the last quarter.
However, officials said public works construction and municipal planning issues such as congestion, flooding, pollution and housing, are causing “headaches” for the southern economic hub.
HCMC People’s Committee said it would focus on finishing the three bridge projects – Thu Thiem, Phu My and Go Dua – as a solution to ease traffic congestion in the city.
It also promised to remove most of the barricades erected outside public works - which are blamed for traffic logjams- by the end of this year.
Last week, city leaders asked for permission from the government and the National Assembly to spend more on infrastructure and social welfare.
The city also asked to have control over its own budget, while doubling funding for public infrastructure.