Science technology is not science fiction for innovation focus of Ho Chi Minh city

DNHN - Ho Chi Minh City (HCMC) identifies science and technology as the key driving force for local socio-economic development.

Mobilize resources

Mr Nguyen Viet Dung, Director of Ho Chi Minh City Department of Science and Technology, said that the city has mobilized investment capital from society for science, technology and innovation. In the period 2016 - 2020, the city has invested more than 55 trillion dongs in science and technology, while supporting small and medium companies to improve productivity and quality. The technology and equipment innovation rate reached 24% during the assessed period. In addition, the city restructures scientific research programs and promotes the application and transfer of technology to serve industries, services and smart city projects.

Ho Chi Minh City's startup ecosystem is attracting more and more resources. The city currently has about 2,000 active startups, accounting for 50% of the total number of companies in the country.

Mr Huynh Kim Tuoc, Director of the Saigon Innovation Hub (SIHUB) under the Department of Science and Technology of Ho Chi Minh City, said that despite the Covid-19 pandemic outbreak in April 2021, investment in startups in Ho Chi Minh City reach about $1.3 billion in 2021, up 40% from a year ago, accounting for 60% and 70% of the country's total value and deals, respectively. Ho Chi Minh City is still in the top 10 most dynamically developing global cities and the top 200 global start-up cities by 2021. So far, the city has had 124 businesses that build science and technology funds. 

98% of businesses in Vietnam, including Ho Chi Minh City, are micro and small businesses. Therefore, the operation mechanism of the Science and Technology Development Fund must be changed to attract more investment capital.

Promote cooperation

Ho Chi Minh City plans to strengthen cooperation in the fields of smart city, digital transformation, microchips, artificial intelligence (AI), robotics, automation, Internet of Things (IoT), 3D printing and life sciences while promoting the effective implementation of projects to develop Ho Chi Minh City's startup ecosystem in the 2021-2025 period, focusing on putting the Innovation Startup Support Center into operation. In addition, the city will form a network of start-up support centres as a foundation for connecting and developing the ecosystem in key areas such as digital transformation, AI application, financial technology, educational technology, healthcare and high-tech agriculture.

The Ministry of Science and Technology needs to have specific mechanisms and policies to support and connect universities and research institutes with businesses, promote product commercialization. The key issues in the cooperation programs between the Ministry of Science and Technology and Ho Chi Minh City need to be resolved immediately to make significant changes and contribute to the common development of the country and the city.

Ministry of Science and Technology’s Minister - Mr Huynh Thanh Dat stated that the key point is to apply science and technology into practice, digital transformation and innovation, creating breakthroughs for socio-economic development of the city. The Ministry of Science and Technology is also ready to test new science and technology policies in HCMC.

Investment in innovative startups in Vietnam is expected to reach more than 1 billion USD by 2022.

Mai Anh