HCMC greatly contributes to socialist-oriented market economic institution

After 40 years of innovation policy implementation, Ho Chi Minh City has been making many important contributions to the socialist-oriented market economic institution by innovating its approaches.
At the meeting

At the meeting

The mission team of the Central Steering Committee for Review worked with Ho Chi Minh City authorities on a number of theoretical and practical issues regarding socialist-oriented innovation over the past 40 years in Vietnam.

Accordingly, the meeting participants worked on two themes including a general assessment of theoretical and practical issues over 40 years of innovation and issues raised in the new period; forecasting the new situation and having proposals and commendations of its solutions to continue promoting innovation, building and developing the country and protecting the Fatherland in the new period.

Secretary of the HCMC Party Committee Nguyen Van Nen at the event. (Photo: SGGP)
Secretary of the HCMC Party Committee Nguyen Van Nen at the event. (Photo: SGGP)

The assessment report summarizes theoretical and practical issues over 40 years of innovation and issues raised in the new period in Ho Chi Minh City, Deputy Head of the Propaganda and Education Board of the municipal Party Committee Pham Duc Hai said that the southern metropolis has made full of its potential, advantages, rapid and sustainable economic development, associated with innovating growth models and restructuring, improving quality, efficiency and competitiveness.

The city's economy has maintained continuous growth over the years, except for the year seriously affected by the Covid-19 pandemic. Ho Chi Minh City innovates its economic growth model, leading to improved quality, gradually shifting from mainly extensive development to in-depth development based on the application of scientific and technological achievements; however, its recent improvement has not met the requirements.

The city’s economic restructuring focuses on key industries, services and high-tech agriculture, gradually increasing the value of products and services with scientific and technological applications. However, intra-urban industrial restructuring is still slow, economic sectors also face difficulties during the urban restructuring process.

Ho Chi Minh City focuses on building and creating a breakthrough in the urban infrastructure system as well as improving the quality, effectiveness and efficiency of planning, urban management and environmental protection in association with adaptation to climate change. The city’s plan-makers have always taken heed of infrastructure development and strategies and development plans over time are focused on investment, renovation and upgrade of urban embellishment and development; therefore, the city has seen certain progress. Environmental protection and adaptation to climate change are focused more.

Secretary of the Hanoi City Party Committee Dinh Tien Dung (C) talks to meeting participants.

Secretary of the Hanoi City Party Committee Dinh Tien Dung (C) talks to meeting participants.

At the same time, the city’s mobilization and appeal of financial resources for the development of science and technology, education and training, health, culture, physical education and sports is greatly effective. Social policies and ensure social security are well implemented.

Ho Chi Minh City leaders also pay attention to the expansion of technology and innovation centers and education and training establishments while improving the quality of teachers and educational managers. Moreover, it poured more investment into facilities, training human resources, and developing a system of medical examination and treatment facilities to take care of dwellers’ health condition.

In addition to strengthening national defense and security, and maintaining political and social stability in all situations, the city has carried out foreign affairs activities through the Party's foreign affairs channels, government diplomacy, and people's diplomacy.

At the meeting

At the meeting

Last but not least, the city has improved the leadership capacity and fighting power of the Ho Chi Minh City Party Committee with dedicated officials and civil servants associated with building an urban administration model and effective administrative reform.

The Deputy Head of the Ho Chi Minh City Party Committee's Propaganda and Education Board added that over 40 years of implementing the reform policy, the city has formed science and technology parks such as the Saigon High-Tech Park, the Quang Trung Software Park, the Agricultural High-Tech Park and the Biotechnology Center of Ho Chi Minh City.

Ho Chi Minh City promotes the development of science and technology, innovation and startups, a breakthrough to build the city to soon become one of the major centers of economics, finance, trade, science and technology of the Southeast Asia region.

Along with economic development, city administrations have also organized cultural and social activities for people’s relaxation.

Deputy Head of the Propaganda and Education Board of the HCMC Party Committee Pham Duc Hai at the meeting
Deputy Head of the Propaganda and Education Board of the HCMC Party Committee Pham Duc Hai at the meeting

Ho Chi Minh City government aims to develop the city into a civilized, modern, compassionate, dynamic and creative place with high-quality human resources. Moreover, it strives to be a modern service-industrial city, digital economy, digital society, economic, financial, commercial, cultural, educational, and science-technology center of the country with an average growth of about 8 percent-8.5 percent annually, GRDP per capita of about US$14,500 and digital economy contributing 40 percent to GRDP.

The city set a vision to 2045 that it will become the economic, financial and service center of Asia and a place that attracts financial institutions and international economic corporations.

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