Speaking at the event, Vice Chairman of the HCMCPeople's Committee Vo Van Hoan said that in the recent five years, the southern metropolis’s economy has continued to develop steadily and contributed 20 percent of the country’s GDP and 25 percent of the state budget annually. The industrial sector plays an important role with significant contributions and outstanding achievements in the four key industries, including mechanical engineering, electronics and information technology, medicinal chemistry and plastic rubber, and food processing.
However, the city is facing challenges of unsustainable development, a high rate of processing and assembling, low added value, obsolete technology, relying heavily on natural resources and labor, low supporting industry development, and inappropriate allocation of export processing zones and industrial parks.
The city's industry must focus on high-tech applications, electronics, semiconductors, supporting industries, green industry associated with digital transformation, the development of a system of services to support industrial production, such as logistics, digital services, and financial services, especially new industries, including renewable energy, pharmaceuticals, culture, and cinema. In addition, HCMC’s industrial transformation must connect with cities and provinces in the country.
To achieve success in industrial transformation, businesses need the support of the government, ministries, and localities. First, state agencies and localities should create feasible incentive policies. In addition, HCMC will continue to reform administrative procedures and improve the investment environment to help enterprises and investors effectively access resources according to market mechanisms and take advantage of the cooperation from international organizations and cities around the world, Politburo’s Resolution 31-NQ/TW on orientations and tasks for the development of HCMC by 2030, with a vision to 2045, and Resolution 98/2023/QH15 on the pilot implementation of specific mechanisms and policies for the development of HCMC.
Prime Minister Pham Minh Chinh expressed his joy at the organization of the 5th HCMC Economic Forum on a larger scale, attracting much attention from international friends. The forum is a meaningful event that is not only for HCMC but also for the country and international friends to exchange ideas, listen to opinions, and take action.
