HCM CITY — With one of the country’s largest science and technology foundations and a vibrant innovation ecosystem, HCM City is accelerating breakthrough strategies to realise its goal of becoming a leading regional and international innovation hub.

The city’s innovation and startup ecosystem is regarded as one of the most dynamic in the region.

It ranks second nationwide for both the Digital Transformation Index and Innovation Index, and leads the country in digital infrastructure, attracting numerous major and hyperscale data centres.

Globally, its startup ecosystem ranks 110th, and fifth in Southeast Asia.

Home to nearly half of Việt Nam’s total startups, the city now hosts more than 2,000 innovative enterprises, supported by over 100 venture capital funds and 20,000 professionals in science and technology.

It has also nurtured Việt Nam’s three technology unicorns – VNG, MoMo and Sky Mavis.

Founded in 2004, VNG Corporation is one of the city’s leading digital enterprises, creating key platforms such as Zalo, ZaloPay and internationally standardised data centres.

“With the city’s support and enabling environment, VNG has grown from a small business into a global technology company,” VNG Founder and Chairman Lê Hồng Minh said. 

In just the first half of 2025, the city’s science and technology sector attracted US$1.6 billion in foreign direct investment, and now has more than 140 certified science and technology enterprises, ranking second nationwide.

With nearly 100 high-quality training institutions, the city has also become a preferred destination for major global tech firms establishing offices and R&D centres – including SAP, Marvell and Qualcomm.

Marvell Vietnam, founded in 2013 with only five engineers, has since expanded rapidly.

In September 2025, Marvell inaugurated three new offices in Việt Nam – two in HCM City and one in Đà Nẵng – making the country its third-largest global R&D hub, with more than 500 engineers.

“Our new lab at Etown6 is equipped with state-of-the-art testing and research facilities for high-speed connectivity products,” Marvell Vietnam General Director Lê Quang Đạm said.

Municipal People’s Committee Chairman Nguyễn Văn Được said the expansion marks a milestone in international cooperation in semiconductor and high-tech industries.

“The city is committed to accompanying Marvell and other investors by creating favourable conditions in terms of policy, infrastructure and human resources,” he said.

Strategic breakthroughs

Beyond infrastructure and investment, the city is introducing a series of special policies to attract talent and nurture startups.

In August, the official operation of the city Innovation Startup Centre is expected to serve as a nucleus connecting resources and fostering creative entrepreneurship.

The centre is envisioned as a key driver in propelling the city into the world’s top 100 most dynamic startup ecosystems.

Lâm Đình Thắng, director of the city’s Department of Science and Technology, said that despite its progress, the city still faces challenges – including rigid management mechanisms, a lack of testbeds for new technologies, incomplete data infrastructure, and limited R&D investment.

“Strengthening the ‘triple helix’ link among academia, government and business remains a top priority,” he said.

The city’s Party Congress has identified science, technology and innovation as the main drivers of growth, setting ambitious targets of the digital economy contributing 30-40 per cent of GRDP, total R&D spending reaching 2–3 per cent of GRDP, and at least 4–5 per cent of the city’s annual budget dedicated to science, technology and digital transformation.

Assoc. Prof. Dr. Trần Hoàng Ngân, National Assembly Deputy from HCM City, said these targets “reflect the city’s strong political commitment to innovation-led growth.”

He emphasised the need for greater investment in research and development centres not only at the city level but also within universities and enterprises.

To realise its strategic vision, the city is pursuing three breakthrough directions.

The first focuses on policies and investment mechanisms, piloting innovative public–public partnership models to channel state funding into university R&D while encouraging greater private-sector participation.

The second targets strategic technologies and innovation ecosystems, with priorities in artificial intelligence, cloud computing, semiconductors, robotics, blockchain and biomedical technology, alongside the creation of a new Startup Support Fund.

The third centres on digital governance and human capital development, fostering stronger collaboration among universities, government, businesses and financial institutions, and deepening international cooperation to attract global expertise.

Addressing the city’s Party Congress for the 2025-30 term, Party General Secretary Tô Lâm urged HCM City to “accelerate economic restructuring, take science, technology and innovation as the main engines of growth, and promote effective digital and green transformation to raise productivity and competitiveness.”

With solid foundations, strong political will and active global partnerships, the city is positioning itself to become a true innovation powerhouse of Southeast Asia in the coming decade. — VNS