Vietnam's strong performance in the global innovation index, with 314 patents and over 3,800 startups, demonstrates its growing innovation ecosystem.

While FDI and export growth will continue to play significant roles, public investment and domestic consumption are expected to drive growth in 2025, the forum heard.

The city is seeking support from the CABC to establish and operate startup incubation centers, attract technology corporations, and connect with global startup networks.

Thai Binh Province has prioritized this project as a key driver of local socio-economic development.

Seven Memoranda of Understanding were signed between Vietnamese and Chinese businesses on the sidelines of the forum held in China's Chongqing city on November 8.

The $1.3-billion factory expected to be put into operation in early 2025.