The Vietnam Innovation Summit 2024 (VIS 2024) officially opened in Ho Chi Minh City on November 15, aiming to elevate the quality of the city's and Vietnam's startup ecosystem, the Voice of Vietnam reported.

The summit attracted over 1,500 attendees, including speakers, innovation experts, leaders from government organizations, businesses, investment funds, and startups from both domestic and international backgrounds.

In his opening address, Vice Chairman of the Ho Chi Minh City People's Committee, Mr. Vo Van Hoan, highlighted the city's position as Vietnam's most dynamic startup and innovation ecosystem.

He noted that over 50% of startups, 40% of incubators and startup support centers, and 60% of Vietnam's venture capital funds are based in the southern city.

He emphasized that the city's vibrant economy and young workforce make it a promising destination for international investors.

Highlighting the crucial role of innovation in driving sustainable economic growth and enhancing the country's standing, Mr. Hoan stated that the city will prioritize fostering innovation and entrepreneurship by establishing a favorable legal environment and implementing specific support policies.

He cited the National Assembly's Resolution 98, which outlines special mechanisms and policies for Ho Chi Minh City's development, including non-refundable grants for the city, tax exemptions for ecosystem participants, and capital gains tax waivers for investors entering the city's startup and innovation ecosystem.

The two-day summit features a diverse program of activities and discussion sessions covering topics such as: Building successful partnerships; Emerging trends in innovation in Vietnam; Fostering a culture of innovation; and Driving innovation within corporations.

Furthermore, speakers will delve into the role of policies and regulations in promoting sustainable development and digital transformation within the manufacturing sector, focusing on the themes of "Sustainable Development" and "Smart Manufacturing & Automation".

The discussions will also feature the sharing of experiences and solutions on utilizing advanced technology to enhance production efficiency and mitigate environmental impact, aligning with Vietnam's sustainable development goals.