The Vice Chairman made the statement at the seminar 'Driving Force for Industrial Development in Ho Chi Minh City – From Potential to Action' at the BCEC Exhibition Center in Ho Chi Minh City's Binh Duong Ward co-hosted by the city’s Department of Industry and Trade in coordination with Tuoi Tre Newspaper and other partners.
The event drew over 120 participants, including experts, business leaders, government officials, and researchers.
At the seminar, Director Bui Ta Hoang Vu of the Department of Industry and Trade, noted that while industry contributes 30 percent to the city’s Gross Regional Domestic Product and serves as a key economic driver, it is facing major challenges. Logistics costs account for 16 percent–20 percent of product pricing which is well above the regional average while the supply of clean industrial land is limited and rental prices remain high.
In his closing remarks, Vice Chairman Nguyen Loc Ha stressed that modern industry and innovation must become the foundations for propelling the megacity of over 14 million people into its next development phase. He directed the Department of Industry and Trade to gather insights from the seminar and revise the city's industrial planning to prioritize high-tech, green, and platform-based industries, alongside digital transformation and smart manufacturing. Key focus areas include mechanics, chemicals, electronics, semiconductors, and high-speed rail.
He also assigned the Department of Science and Technology to enhance the innovation ecosystem by connecting research institutes, universities, and businesses, and by supporting tech startups. Meanwhile, the Department of Finance was tasked with developing incentive mechanisms to attract investment in critical sectors and emerging technologies.
