The event brought together Deputy Chairman of the Ho Chi Minh City People’s Committee Nguyen Van Dung, along with leaders of departments and agencies, experts and business representatives.
At the seminar, Vu Doan Thai Long, Senior Project Manager at Roland Berger Vietnam, highlighted the growing importance of the service sector. He noted that services accounted for 51 percent of Ho Chi Minh City’s GRDP in 2024, up from 40 percent in 2010, marking the first time the sector has outpaced industry.
However, compared with other regional service hubs, the city still lags behind.
services account for 88 percent of Bangkok’s economy, 71 percent in Singapore, and 70 percent in Kuala Lumpur. Despite this gap, Ho Chi Minh City recorded an average annual growth rate of 7.8 percent between 2020 and 2024, outpacing Singapore and Seoul, demonstrating strong breakthrough potential.
He also pointed to key challenges, including limited connectivity infrastructure, dependence on traditional business models, the dominance of SMEs, and relatively low competitiveness. To address these, he proposed functional zoning, in particular, Ho Chi Minh City on financial services, Binh Duong on high-tech and logistics, and Ba Ria–Vung Tau on tourism and seaports.
Assoc. Prof. Dr. Vo Thi Ngoc Thuy of the University of Economics Ho Chi Minh City shared similar views, stressing the need to integrate digital economy services and training into the city’s nine key service sectors. She called for bold initiatives, including special policy mechanisms, the creation of a dedicated council, and the development of premium service brands that reflect national identity to reduce reliance on foreign enterprises.
She emphasized that without distinctive high-end service products rooted in Vietnamese identity, foreign companies could dominate the market and leave the city vulnerable if they withdraw. To counter this, she recommended fostering leading brands capable of building comprehensive premium service ecosystems. Citing Samsung as an example, she noted that major corporations extend far beyond core products to create broader service ecosystems. Above all, she stressed that Ho Chi Minh City must position itself as a pioneer and market leader.
In his remarks, Deputy Chairman of the Ho Chi Minh City People's Committee Nguyen Van Dung affirmed that merging with Binh Duong and Ba Ria–Vung Tau has created new development space, forming an international mega-metropolis with synergistic advantages. The city’s goal, he said, is to become a regional service hub comparable with other major urban centers, leading in the digital and knowledge economies.
To realize this vision, Ho Chi Minh City is prioritizing several initiatives such as establishing an international financial center; upgrading logistics services linked to strategic seaports; advancing international education, high-quality healthcare, and premium tourism; attracting high-tech investment; supporting innovative startups; and developing modern specialized service zones to anchor services as the city’s main growth driver.
The discussion was recognized as an important platform for experts, policymakers, and businesses to exchange views and propose breakthrough policies on taxation, land, human resources, and digital transformation. Participants also contributed ideas to major projects such as an international exhibition center and a fashion hub combining training, research, trade and showcase activities.
Concluding the event, Deputy Chairman of the Ho Chi Minh City People's Committee Nguyen Van Dung emphasized the city’s commitment to earnestly absorbing all contributions and translating them into concrete action plans, policies and development programs.
Ho Chi Minh City is determined to become ever more dynamic, modern, and worthy of its role as the nation’s and the region’s premier high-end service hub, he affirmed.
