Ho Chi Minh City aims to become the region’s leading science, technology and innovation center by 2030 through technology mastery.

“In the context of the global shift to knowledge competition, the advantage no longer belongs to resources or cheap labor, but belongs to economies that know how to create knowledge and master core technology,” said Mr. Lam Dinh Thang, Director of the Department of Science and Technology of Ho Chi Minh City. speaking at the conference within the framework of the Ho Chi Minh City Innovation, Science and Technology and Creative Startup Week (WISE HCMC⁺ 2025).

Mr. Lam Dinh Thang, Director of the Ho Chi Minh City Department of Science and Technology.

Citing data, Mr. Thang said that Ho Chi Minh City has a pioneering role in the innovation ecosystem when accounting for more than 50% of the number of startups in the country, equivalent to more than 2,000 startups. The city also ranks 5th in Southeast Asia in terms of startup ecosystem value when it reaches a scale of 5.22 billion USD, preparing to enter the group of 100 cities with the most dynamic ecosystems in the world. In terms of digital transformation, the city is in the group of leading provinces in the Digital Transformation Index (DTI), owning modern digital infrastructure with a 5G coverage rate of 82%, with 16 data centers in operation. The city’s goal by 2030 is to become the region’s leading center of science, technology and innovation, bringing the innovative start-up ecosystem into the top 100 dynamic cities globally.

According to him, to make a breakthrough, the city must create the future generation (NextGen). NextGen is not only young people, but an intergenerational synergistic ecosystem where the creativity and breakthrough spirit of young people are led by the experience and knowledge of existing generations of experts and leaders, helping to master technology, create inclusive value, No one is left behind.

At the event, experts also contributed and launched initiatives to realize the above goal. Ms. Jade Koh, Regional Director for Thailand and Vietnam of the Singapore Economic Development Board (EDB), said that Ho Chi Minh City needs to focus on creating a broad innovation ecosystem, including startups and talent resources.

According to her, Ho Chi Minh City can learn from Singapore’s experience in stages, from developing a labor-intensive and skills-intensive economy, then shifting to a technology- and service-focused economy, and can build comprehensive partnerships with other cities.

Mr. Alan Ang, Chairman of the Asian Blockchain Association, assessed that Singapore is a technology model for many cities around the world to learn from, but Ho Chi Minh City can follow its own path.

“Ho Chi Minh City does not need to copy Singapore, because you can completely take shortcuts to catch up, make a leap above the predecessors,” he said. “The person who follows has the advantage of observing successes and failures to avoid getting into a car wreck.”

Mr. Alan Ang, Chairman of the Asia Blockchain Association.

Mr. Daniel Theobald, an expert in robotics, AI, IoT and founder of MassRobotics, assessed that Vietnam has gradually become a center for intellectual property instead of just a manufacturing country for the world. According to him, referring to the development model in the world is a good thing to do, but it should not be stereotyped. Taking Silicon Valley as an example, he said that up to 95% of startups here fail, only a few succeed.

“I work in a lot of places, and I get slogans like ‘I want to be the Silicon Valley of East Asia,’ or something like that. I would say: No, you shouldn’t. You want to be better than Silicon Valley, that’s possible,” he said, adding that there are good lessons from Silicon Valley, but not everything is true.

According to him, startups should not raise capital from venture capital funds too soon because it can kill the business. Instead, they need to focus on solving real problems.

In the field of digital assets, Mr. Ang said that this will be a channel worth considering for the city. Vietnam is a market with a high cryptocurrency adoption rate, strong and good human resources. With this environment, Vietnam can learn from the model of attracting resources by drawing boundaries through the sandbox mechanism (experimental legal framework), as well as being clear about the legal stage.

However, the expert emphasized that Vietnam should not chase simple cryptocurrencies. Instead, it is recommended to take advantage of the strength of the manufacturing factory to develop Real World Assets (RWA – tokenization of real assets), such as tokenization of invoices, collection accounts to mobilize community capital or international investors; or create a Digital Product Passport on the blockchain platform for batteries, textiles, building materials, etc. for traceability and sustainability.

Ms. Tran Tue Tri, Director of Silver Lion Enterprise Impact, said that Ho Chi Minh City can focus on branding and positioning the International Financial Center (IFC), finding a different direction, providing diversified financial solutions, taking advantage of Vietnam’s young population and innovative energy. To do this, it is necessary to build trust and transparency in legislation, human development, create technical platforms, etc. thereby accelerating the completion of the goal.

Ms. Nguyen Truc Van, Director of the Center for Socio-Economic Simulation and Forecasting.

At the event, Ms. Nguyen Truc Van, Director of the Center for Socio-Economic Simulation and Forecasting of the Institute for Development Studies of Ho Chi Minh City (HIDS), said that Resolution 222 of the National Assembly and Resolution 05 of the Government are opening the digital financial era for Ho Chi Minh City. In particular, Resolution 222 is an important framework document, with the goal of building the IFC Vietnam model located in Ho Chi Minh City and Da Nang to promote sustainable finance, operate according to international standards, attract high-quality human resources and balance the interests of the State. investors and people.

Ho Chi Minh City has now established a Steering Committee, developed a plan to develop the financial center space and prepared an operating framework. IFC in Ho Chi Minh City covers an area of 899 hectares, scheduled to launch on December 15, focusing on four pillars including the currency market, capital market, derivatives exchange and fintech/green finance. The roadmap includes the foundation laying phase (2025-2030); the growth period of target industries (2031-2035); and the stage of becoming a regional and international financial center (from 2035 onwards).

Soure: Vnexpress