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HCMC proposes seven solutions to develop knowledge economy

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HCMC – HCMC Chairman Nguyen Thanh Phong proposed seven solutions to develop the knowledge-based economy while delivering a report, “Developing the knowledge economy-international experience and reality in HCMC”, on the second working day of the 13th National Party Congress on January 27.

It is necessary to reform mechanisms and policies and create a new legal framework matching the development of the knowledge economy, Tuoi Tre Online newspaper reported.

The country should also develop high-quality manpower, improve the intellectual standards of the people and train talent, Phong added.

Next, it is important to enhance the national scientific and technological capacity to receive and apply the most up-to-date scientific and technological knowledge and gradually develop local technologies.

Vietnam needs to develop information technology infrastructure, especially in the context that the Covid-19 pandemic is still developing complicatedly across the world. New sectors related to digital transformation have been developed, which is both an opportunity and pressure for the country to boost the development of the digital economy in the coming time.

The HCMC chairman also proposed issuing policies to improve the startup ecosystem and support and encourage enterprises to invest more in science, technology and innovation. The Government should issue special policies for some enterprises with a desire and the capability to research and develop new technologies.

Special policies are needed for hi-tech parks and software cities to serve their roles as innovation centers, thus focusing on developing hi-tech sectors and participating in global value chains.

The country should actively integrate into the international market to keep pace with the development of modern technologies.

Phong stressed that HCMC always attaches importance to the development of the knowledge economy in its development strategies. The city has allocated huge resources for this target.

According to Phong, HCMC has made use of its advantages of a special city and an economic, scientific and technological center. It has formed the foundation of the knowledge economy, including intellectuals, smart urban areas, hi-tech parks, innovative startup centers, large technological groups, research and development centers and information technology infrastructure.

The city has established and developed the Quang Trung software city chain, a hi-tech park, a hi-tech agriculture center, an Artificial Intelligence startup incubator and the Institute for Computational Science and Technology.

The Saigon Hi-Tech Park in District 9 has attracted 162 projects with a total investment of more than US$7.65 billion, with the value of hi-tech products reaching over US$20 billion in 2020.

HCMC is the first locality in the country to introduce a digital transformation program to boost the development of a digital economy, a digital government and a digital society. The city has laid the groundwork for the four main pillars of a smart city: a shared database and open data ecosystem, a smart city operating center, a center for socioeconomic forecasts and simulation and a center for information safety.

Moreover, the city is drawing up a plan to develop a highly innovative and interactive urban area to the east of the city in association with the establishment of Thu Duc City, which is expected to make up 30%-35% of HCMC’s gross regional domestic product (GRDP) or 7% of the country’s gross domestic product (GDP).

According to Phong, the organization of the single-tier government structure in HCMC and the establishment of Thu Duc City are important to help the city realize its targets.

In the 2016-2019 period, the city’s GRDP expanded 7.72% on average. It maintained its leading position in economic growth, contributing more than 22% of the country’s GDP and 26% of the State budget revenue.

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