HCM City's hi-tech industries expected to account for 40% of GRDP

Ho Chi Minh City targets to raise the proportion of high-tech industries to its GRDP from the current 23% to 40% by 2030, according to Mr. Phan Van Mai, Chairman of the municipal People's Committee.

He revealed the goal while addressing the second Ho Chi Minh City Friendship Dialogue 2024 which opened on September 24 with a focus on industrial transformation.

The event attracted 35 delegations from international localities that have set up friendship and cooperative relations with the HCM city, including those from China, Russia, the US, Japan, South Korea, Germany, Italy, Australia and India.

Mr. Mai stressed that industrial transformation has become a global trend with investment in high technology estimated at $1.5 trillion worldwide by 2030.

“We are living in an era of intensive industrial information where innovation and sustainable development have become decisive factors for success,” he said.

In order to maintain competitiveness and sustainable growth, HCM City needed to shift from traditional industries to high-tech and high value-added ones, according to him.

HCM City has adopted a dual strategy, which combines green transition and digital transformation to build a sustainable, inclusive and resilient economy, he said.

The city has also focused on developing high-tech industries, automation, smart factories and advanced production technology to upgrade the value chain.