Ho Chi Minh City needs to transform its industrial model to attract high-quality investment.

At the seminar "Industrial development motivation of Ho Chi Minh City - From potential to action" organized by the Department of Industry and Trade of Ho Chi Minh City on July 17, experts and management leaders said that Ho Chi Minh City needs to reposition its role in the global value chain, and what needs to be done now is to improve the quality of capital flows.

Sharing at the seminar, Dr. Do Thien Anh Tuan, Fulbright University Vietnam, acknowledged that the merger of Ho Chi Minh City with Binh Duong and Ba Ria - Vung Tau to form the new Ho Chi Minh City will create an extremely powerful integrated industrial space, this super region will account for a significant portion of Vietnam's total economic product, contributing nearly 28% of industrial added value, 21% of export turnover, and more than 115 billion USD to GRDP.

Mr. Tuan said that in the context of increasingly fierce competition to attract global investment and the room for growth in breadth gradually narrowing, Ho Chi Minh City needs to strongly shift to a conditional FDI attraction strategy and orient towards transforming the industrial model.

In particular, prioritize high-quality and advanced technology FDI projects. Specifically, Ho Chi Minh City needs to prioritize attracting strategic investors in high-tech and value-added sectors, including: Semiconductors - microchips; biotechnology - healthcare ; renewable energy; smart devices; industrial data and digital manufacturing.

Ho Chi Minh City needs to design a conditional incentive package to maximize benefits linked to development goals. Specifically, tax exemptions linked to innovation targets; infrastructure support for early chain projects; access to preferential credit if businesses plan to increase localization and create chain linkages.

Sharing this view, Dr. Tran Du Lich, former Director of the Ho Chi Minh City Institute of Economics , proposed that Ho Chi Minh City redistribute space and build an industrial - service - seaport belt. He said that the expanded space after the merger is an opportunity for Ho Chi Minh City to "redraw the map" of industrial development. With more than 8,000 hectares of existing industrial land and 1,000 hectares of high-tech zones, Ho Chi Minh City needs to allocate them reasonably instead of concentrating them in the central area.

Source: https://nld.com.vn/co-hoi-de-tp-hcm-ve-lai-ban-do-phat-trien-cong-nghiep-196250717161727261.htm