Yesterday, the Ho Chi Minh City Department of Science and Technology organized a scientific seminar titled "Transforming Ho Chi Minh City's Development Model to a Model Based on Science and Technology, Innovation, and Digital Transformation”, aiming to build the city into a leading innovation center, with rapid and sustainable economic development based on knowledge and data.
At the seminar, Director of the Ho Chi Minh City Department of Science and Technology, Lam Dinh Thang, stated that the city is facing a historical moment with a new development space after the administrative boundary merger.
To remain the country’s top economic driver, according to him, Ho Chi Minh City must move beyond traditional growth models that are no longer effective.
He stressed that moving toward a knowledge-based, digital economy is an unavoidable step to boost labor productivity and strengthen the city’s global competitiveness.
The Department has enlisted experts and scientists to design solutions around five strategic pillars, including advanced technology and semiconductor microchips, digital finance and data, smart infrastructure and logistics, healthcare and human resources, and digital culture and tourism. Director Lam Dinh Thang affirmed that all feedback will be carefully incorporated into the draft thematic document, which will be submitted on schedule to the Central Steering Committee.
According to Mr. Tran Du Lich, former Director of the Ho Chi Minh City Institute for Development Studies, the city contributes 23.5 percent of the GDP and 30 percent of the national budget. However, with a traditional growth model based primarily on expanding investment capital, processing industries, low-cost labor, and real estate development, its effectiveness is gradually decreasing. Without timely transformation, the city's growth momentum will weaken.
To gradually become a technology, finance, and startup hub of Southeast Asia, Dr. Tran Du Lich noted that the city should accelerate the transformation of its development model based on science and technology, innovation, and the digital economy.
This is not only an inevitable trend but also a strategic requirement for the city to maintain its leading role and enhance its international competitiveness.
Dr. Tran Du Lich proposed nine groups of solutions to transform the development model. Among them, he emphasized the formation of a large-scale Innovation and Venture Capital Fund.
This fund would operate on market principles, co-investing with the private sector to support technology startups and R&D (research and development) projects. The State would play the role of seed capital, activating social capital. Priority would be given to attracting new-generation FDI linked to technology transfer.
At the seminar, experts and scientists also focused on discussing issues related to building the International Financial Center in Ho Chi Minh City; transforming smart logistics infrastructure connecting free trade zones with seaports and international gateway airports.
