The modern Nanotechnology Research Laboratory at Việt Nam National University-HCM City. — VNA/VNS Photo

HCM CITY — HCM City will focus on reviewing and investing in infrastructure, mobilising all financial, human, and other resources to achieve breakthroughs in science and technology innovation, and digital transformation, according to the city People's Committee.

Phan Văn Mãi, chairman of the city People's Committee, said the development of science and technology, innovation, and digital transformation are key breakthroughs for the city's growth in the new era.

Therefore, the city is closely aligned with the targets and tasks outlined in Resolution No. 57-NQ/TW of the Politburo on breakthroughs in science and technology development, innovation, and national digital transformation.

Among these goals, the R&D (Research and Development) Fund is expected to reach 2 per cent of GRDP by 2030, and the investment in scientific research, technology development, innovation, and digital transformation will account for 3 per cent of the annual state budget, he said.

The city will strive to become one of the country’s leading digital technology industrial hubs and a top locality for science, technology, and innovation.

The city seeks to rank among the top five provinces and cities in the Provincial Competitiveness Index and among the top three localities in e-government and digital government indexes.

In addition, the digital economy is expected to contribute about 40 per cent of GRDP.

The city will continue to research and update new policies to mobilise all resources for breakthrough development in science and technology, innovation, and digital transformation in the coming time.

They include corporate income tax (CIT) exemption for innovative startup enterprises, personal income tax exemption for high-tech personnel, and policies to attract talent in the science and technology sector.

The city will consider issuing additional support policies, offer financial assistance to science and technology businesses to improve product quality and develop new products, provide shared applications and workforce training programmes, and co-invest or offer incentive loans to support businesses investing in R&D (research and development) laboratories, operations, research, or training activities.

It will offer tuition assistance and support for advanced training in digital transformation, science and technology, international training costs, attending international conferences, or participating in international research projects.

It will focus on all three pillars of digital transformation, including digital government, digital economy, and digital society. It strives to reach at least 80 per cent of administrative procedures and documents to be addressed online by the end of 2025.

Accordingly, the city will complete the infrastructure for information technology and telecommunications and introduce many applications for citizens and businesses, particularly in the sectors of healthcare, education, employment, and social welfare.

It will also pay attention to the digital economy's development, focusing on supporting the city’s businesses in implementing digital transformation.

The city now has about 2,200 innovative start-up enterprises, accounting for 50 per cent of the total number of the country, including more than 200 funded by venture capital, 53 start-up support organisations, and 97 universities and colleges.

Some 500 start-up events and 80 start-up competitions are organised every year in the city.

Last year, the city ranked 111th in the global ranking of cities with the most dynamic innovation start-up ecosystems.

The city is working with Đà Nẵng City and the Ministry of Planning and Investment to prepare a dossier on promulgating mechanisms and policies for a financial centre in the city and submit it to the National Assembly for approval.

These policies are created to attract investors and various stakeholders to participate in the financial centre.

It is also planning investments in infrastructure, including transportation, energy connectivity, information technology, and other essential facilities. — VNS