Ho Chi Minh City: Special mechanism to attract investment in science and technology

According to Mr. Lam Dinh Thang, in recent times, Ho Chi Minh City has persistently and synchronously deployed many key groups of solutions, built many unique and outstanding mechanisms and policies to attract talent and investment capital such as: non-refundable financial support for innovation; preferential policies on salaries and wages; and formed international standard research centers.

The city has made efforts to reform administration and attract investment, reducing nearly 300 procedures related to production and business, equivalent to more than 1,900 working days; and establishing specialized working groups to provide direct and timely support to strategic investors.

“Thanks to that, in just 6 months of 2025, the science and technology sector has attracted 1.6 billion USD (accounting for 40%) of FDI capital. Currently, the City has more than 140 science and technology enterprises, ranking second in the country,” Mr. Lam Dinh Thang shared.

In the next 5 years, the City has identified a number of major goals: digital economy accounts for 30-40% of GRDP; becoming an international-class innovation center by 2030; creative startup ecosystem in the Top 100 most dynamic cities globally; having at least 5 international-standard research centers in strategic technology fields.

Mr. Lam Dinh Thang said that to realize these goals, the City focuses on making breakthroughs in mechanisms, policies and attracting investment, focusing on attracting strategic investors in the field of science and technology. "Currently, the G42 Group of the UAE (United Arab Emirates) is planning to invest in an AI Metadata Center with a capital of nearly 2 billion USD in the City," Mr. Thang shared.

Ho Chi Minh City will also develop high-tech zones and testing zones for new technologies under specific mechanisms; register a pilot public-public partnership model to use the city budget to invest in universities in the area; and have policies to promote private sector investment in science and technology.

Breakthrough in strategic technology and innovation ecosystem, the City prioritizes the development of technologies that are strengths such as artificial intelligence, cloud computing, semiconductor chips, robots, blockchain and biomedicine. Establish a fund to support startups according to a new model, attract capital from venture capital funds; focus on supporting resources for potential innovation centers.

Making a breakthrough in digital governance and digital human resources, the City will accelerate the development of digital data and digital platforms for the city government to perfect the data-based management model; promote "four-house" cooperation (schools - State - enterprises - investment funds, banks) along with technology diplomacy and attract international experts.

“With political determination, the companionship of businesses and the participation of the people, we believe that Ho Chi Minh City will successfully implement breakthrough solutions, becoming a regional and international center of science - technology and innovation as the strategic goal assigned to the City by the Central Steering Committee on Resolution No. 57-NQ/TW dated December 22, 2024 of the Politburo on breakthroughs in science, technology development, innovation and national digital transformation”, Mr. Lam Dinh Thang informed.

Previously, at the opening session of the Congress, General Secretary To Lam stated that Resolution No. 57-NQ/TW is the guideline to build Ho Chi Minh City into a center of innovation, the core of the knowledge economy, accelerate the digital economy, digital government and digital society, and form a startup ecosystem, high technology, and digital finance. In the spirit of Resolution No. 68-NQ/TW dated May 4, 2025 of the Politburo on private economic development, the City is required to arouse and protect the entrepreneurial spirit, develop the private economy, promote large private corporations, technology enterprises, and creative startups to become the most important driving force of the City's economy...

According to General Secretary To Lam, the City needs to accelerate economic restructuring, taking science, technology and innovation as the main driving force; promote digital transformation, green transformation in a practical and effective manner, improve labor productivity, and be determined to achieve a high GRDP growth rate in the 2025-2030 period.

In the recent period, science, technology and innovation have affirmed their role as an important driving force for the City's growth and achieved positive results, laying the foundation for development in the next 5 years. TFP (total factor productivity), the factor that affirms the contribution of science and technology to growth, is expected to reach 59% by the end of 2025 and is forecast to continue to play a leading role in growth in the next 5 years; digital economy contributed 22% to GRDP in 2024 and is expected to increase to 25% in 2025.

Source: https://baotintuc.vn/thoi-su/tp-ho-chi-minh-co-che-dac-thu-thu-hut-dau-tu-vao-khoa-hoc-cong-nghe-20251015104459062.htm