Ho Chi Minh City is currently ranked among the top 5 startup ecosystems in Southeast Asia and the top 110 globally, with an estimated valuation of $7–7.5 billion.
The city’s innovation network continues to expand, now featuring 35 incubators and innovation centers. These figures were highlighted by Vice Chairman of the HCMC People's Committee, Mr. Nguyen Manh Cuong, during a first-quarter review meeting on April 14, regarding the implementation of major national resolutions and projects on science, technology, and digital transformation.
In the field of innovation, HCMC has successfully deployed 54 technological products for commercial pilot programs, attracting approximately VND500 billion ($19 million) in investment.
Additionally, the newly upgraded Technology Exchange has commenced operations, recording 17 technology transfer contracts with a total value of about VND22 billion ($8.4 million).
Regarding smart city development, the city is currently implementing the "Science and Technology Urban Area" project in its northern region. The Smart City Operation Center (IOC) continues to receive investment to enhance its capacity for monitoring, analysis, and decision-making support. The city is also accelerating data infrastructure development and seeking cooperation for large-scale data center projects.
HCMC has also issued a strategic technology implementation plan, identifying nine core technology groups and 26 priority products. Notably, the city is implementing a controlled testing mechanism (sandbox) for Unmanned Aerial Vehicles (UAVs) and has selected six science and technology organizations to develop international-standard Centers of Excellence (CoE). A comprehensive science and technology program for the 2026–2030 period is currently being drafted with a focus on strategic technological breakthroughs.
Speaking at the conference, HCMC Party Secretary Tran Luu Quang demanded that the allocation and disbursement of resources for science and technology—specifically a budget of approximately VND12.7 trillion ($484 million)—must be managed strictly and reasonably.
Mr. Tran Luu Quang, who is also a Politburo member, emphasized the importance of creating opportunities to train science and technology experts abroad to strengthen the city's high-quality human resources.
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