The Ho Chi Minh City Department of Science and Technology recently held a seminar to evaluate and summarize five years of implementing the project to support startup and innovation ecosystem development in the city for the period 2021-2025 and the results of implementing the Resolution of the 11th HCMC Party Congress, term 2020-2025, on science, technology and innovation.
The city's innovative startup ecosystem is a solid foundation supporting innovation activities and is increasingly growing, approaching the top 100 cities with the most dynamic innovative startup ecosystems globally.
In the aspects of economic contribution and regional comparison, Ho Chi Minh City ranks third in Southeast Asia for startup ecosystem value, with an economic impact of up to US$5.22 billion, following Singapore and Jakarta (Indonesia).
Both Ho Chi Minh City and the capital city of Hanoi lead the top ten localities with the highest local innovation index in the country.
That contributes to increasing the contribution ratio of the total factor productivity (TFP) of the four key industries and nine service sectors to the gross regional domestic product (GRDP) for the period 2020-2025, which is estimated to reach over 50 percent.
