HCM CITY SETS SIGHTS ON BREAKTHROUGH IN SCIENCE AND TECHNOLOGY, DIGITAL TRANSFORMATION

HCM CITY SETS SIGHTS ON BREAKTHROUGH IN SCIENCE AND TECHNOLOGY, DIGITAL TRANSFORMATION

HCM City has unveiled a comprehensive plan to concentrate on review and investment in its infrastructure, mobilize all resources for breakthroughs in science and technology innovation, and digital transformation.

The city's People's Committee, led by Chairperson Phan Văn Miani, emphasized the significance of developing science and technology, innovation, and digital transformation as crucial steps forward for the city's growth into a new era. To achieve this, the city aims to align with Resolution No. 57-NQ/TW of the Politburo on breakthroughs in science and technology development, innovation, and national digital transformation.

The city seeks to accomplish several key milestones:

The Research and Development (R&D) Fund is expected to reach 2 per cent of GRDP by 2030.

Investment in scientific research and technological innovation will comprise 3 per cent of the annual state budget.

The city has set ambitious goals, including ranking among the top five provinces and cities in Provincial Competitiveness Index and three in e-government indexes. The digital economy is predicted to contribute 40 per cent of GRDP, pushing HCM City to become a major hub for digital technology industries.

In order to drive growth in these areas, the city plans to introduce incentives such as corporate income tax exemption for innovative startups, personal income tax exemptions for high-tech personnel and policies meant to lure top talent in science and technology sectors.

Additionally, the city is working on developing new applications with citizens and businesses, mainly focusing on sectors like healthcare, education, employment, and social welfare. The main priority of digital transformation can be broken down into three primary components - digital government, digital economy, and digital society.

The strategic effort to modernize key aspects of urban computing aims for administrative transactions covered by online platforms up to 80% by the end of this year.

As part of its development strategy, HCM City now owns about 2,200 innovative start-up ventures, making them more than half of all nationwide innovators, including around 200 fully funded through venture capital and an equal number of support bodies.

The city currently boasts a dynamic ecosystem for dynamic innovation - last year ranked 111th globally out of cities featuring dynamic innovator ecosystems.

To strengthen itself as the nation's top digital center and promote development, HCM City collaborates with relevant local parties, along with higher authorities. The main target now lies in establishing mechanisms to create better conditions than other economic zones for business operations.

By promoting further development of its innovative spirit combined with modern infrastructure, HCM City targets to drive forward sustainable growth that stands out within a range where digital and technology solutions offer comprehensive improvements across different sectors in society.