Taking science and technology as a new growth driver

Orchid tissue culture room in Ho Chi Minh City High-Tech Agricultural Park.

Considered the cradle of science and technology in the country, in recent years, Ho Chi Minh City's science-technology and innovation activities have accomplished important and comprehensive achievements, contributing to positive changes for socio-economic development.

Leverage from science and technology

Ho Chi Minh City’s science-technology and innovation activities are increasingly deepening and making positive contributions to the development of the city, in particular, and the country in general. The city has built and issued many policy mechanisms to promote the development of an innovation and startup ecosystem, promoting social investment in science and technology activities.

Scientific research activities at International University, the National University in Ho Chi Minh City.

It is estimated that on average in the 2021-2023 period, society's investment spending on science and technology is estimated to reach 0.88%/GRDP. Proportion of contribution of total factor productivity (TFP) to GRDP of enterprises in four key industries (mechanics; electronics-information technology; food and beverage processing; pharmaceutical chemistry -plastics-rubber) and 9 key service industries (commerce; transportation and warehousing; tourism; postal, telecommunications and information and communication; finance, credit, banking, insurance; business real estate; consulting information services - science and technology; education - training; health) of the city in the 2021-2023 period, reached an average of more than 47.2%.

Ho Chi Minh City has also focused on promoting research, transfer and application of achievements of the 4.0 Industrial Revolution, to build a smart city, serving the digital transformation programme and key industries.

Specifically, the city has invested in broadband networks for smart cities; HL7 FHIR and DICOM standards set for electronic medical records and data interoperability between hospitals; smart water measurement system; 3D printed concrete technology for construction projects; applying nanotechnology in the production of targeted drugs for cancer treatment.

In addition, the city has also focused on research and implementation of projects to serve state management at departments, branches, and policies to support the development of the sharing, digital and circular economy.

In addition, to implement Resolution No.24-NQ/TW, dated October 7, 2022, of the Politburo on socio-economic development and ensuring national defence and security in the Southeast region until 2030, with a vision to 2045, the Department of Science and Technology advised the People's Committee of Ho Chi Minh City to approve a project on building a promotion mechanism to form and develop a research centre of international standards to bring science and technology to international standards to help the city's education and technology approach regional and international levels.

Introducing digital economic solutions at the Ho Chi Minh City Economic Forum.

The above policies are expected to contribute to removing current difficulties and obstacles, unlocking all scientific and technological resources, and promptly innovating to meet development requirements in the new period.

According to the Department of Science and Technology of Ho Chi Minh City, the city’s innovative startup ecosystem is a solid foundation supporting innovation activities.

Currently, the city has nearly 2,000 innovative startups, accounting for 50% of the country’s number of startups; more than 100 venture capital funds, 53 startup support organisations, and 97 universities and colleges. Over 500 startup events and nearly 80 startup competitions each year are taking place in Ho Chi Minh City.

It can be seen that the city's startup and innovation ecosystem is growing stronger and is approaching the top 100 cities with the most dynamic innovation startup ecosystem globally.

According to Deputy Head of the Department of Intellectual Property Management and Innovation, Department of Science and Technology of Ho Chi Minh City Phan Thi Quy Truc, in 2023, the Department of Science and Technology has advanced support innovation capacity for more than 2,500 businesses. At the same time, supporting the incubation and development of nearly 310 projects; supporting 40 innovative startups to access venture capital.

Unlocking resources for science and technology

Although the development of science, technology and innovation in Ho Chi Minh City is considered to have many positive results, it has not made a breakthrough and has not kept up with the requirements of socio-economic development, especially in the context of the Industrial Revolution 4.0.

Investment in science and technology is not commensurate with potential and has not created motivation to serve scientific research and innovative start-up activities. The connection in science and technology activities between universities, research institutes and businesses is not tight and sustainable; policies to attract talented experts and scientists have not created a “gravitational force” to attract excellent, industry-leading scientists.

To overcome the above limitations, in the spirit of Resolution 98 of the National Assembly on piloting several specific mechanisms and policies to develop Ho Chi Minh City, the city has been focusing on implementing policies to promote science-technology and innovation.

Specifically, the city has focused on four groups of solutions: tax exemption policy; controlled testing of new technological solutions; Non-refundable support from regular expenditures of the city budget for incubation costs of innovation projects and creative startups; implementing preferential policies to attract scientists.

The Creative Startup Center is a place to help spread the State's support policies on innovation and entrepreneurship to the community, provide innovative startup services, and support technology transfer activities, research and development and commercialisation of scientific research results.

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