The India- Vietnam Seminar on Potential Collaboration, organized by the Ho Chi Minh City People’s Committee, was held in Ho Chi Minh City on February 27.
The seminar marked a significant milestone in promoting investment collaboration between Ho Chi Minh City and India, particularly in the information technology sector.
In his opening speech, Vice Chairman of the Ho Chi Minh City People’s Committee Vo Van Hoan emphasized that information technology (IT) plays a pivotal role in the city's comprehensive development strategy.
City leaders have identified IT not only as a key economic sector but also as a foundation for improving residents' quality of life, enhancing administrative efficiency as well as fostering sustainable development.
Currently, Ho Chi Minh City focuses on investing in digital infrastructure and accelerating digital transformation across various sectors, including education, health, transportation and public services, aiming to build an e-government, digital economy, digital society and smart city.
In 2024, Ho Chi Minh City achieved remarkable milestones in the digital economy, with over 33,000 enterprises regarding digital technology accounting for 12.88 percent and more than 30,000 platform-based enterprises making up 11.63 percent.
In the context of Fourth Industrial Revolution 4.0, Ho Chi Minh City guarantees continuous investment in IT infrastructure to create a smart and innovative environment and attract both domestic and international technology enterprises, particularly those from the countries with advanced technological capabilities such as India.
Regarding this matter, Indian representatives affirmed that India is a leading powerhouse in information technology, with its extensive experience and abundant resources. The country's IT sector is experiencing rapid growth and is expected to reach US$350 billion in revenue by 2025.
As a result, the cooperation between Ho Chi Minh City and India presents a valuable opportunity for businesses on both sides to collaborate on high-tech projects, particularly in artificial intelligence (AI), big data, cloud computing, and specialized software solutions for various industries.
Representing the Indian Chamber of Commerce (ICC), Ms. Lieu Thi Phuong affirmed that the remarkable growth potential of Vietnam's digital economy, its high-quality IT workforce, favorable tax incentives and the Vietnamese Government's commitment to digital transformation and smart city development would be likely to offer room for market expansion of Indian investors in the country. On its side, the Indian Chamber of Commerce has pledged to support Indian enterprises in exploring investment opportunities in Vietnam and establishing long-term strategic partnerships.
HCMC is striving to increase the digital economy's share to 25 percent of the Gross Regional Domestic Product (GRDP) by 2025 through support policies for small and medium-sized enterprises (SMEs) in digital transformation and promote e-commerce and foster innovation.
Thanks to special incentives for IT enterprises, particularly in research and development (R&D), the city has an attractive investment environment.
Additionally, the young, dynamic, creative and abundant workforce is a distinct competitive advantage of the city.
