Ho Chi Minh City Transitions to a Science and Technology-Driven New Growth Model
With traditional resources reaching their limits, Ho Chi Minh City is shifting toward a development model centered on efficiency and digital transformation in line with its 2030 targets.
In response to the changes brought by the Fourth Industrial Revolution and expanding urban scale, Ho Chi Minh City is implementing a new growth model based on science, technology, and innovation as traditional growth factors such as land and capital reach their limits.
International Hub Goal
Ho Chi Minh City aims to become an international-level hub in the fields of science, technology, innovation, and digital transformation by 2030. Through this, the city aims to create a strong spillover effect in the region and promote rapid and sustainable development.
Efficiency and TFP Contribution
It is crucial to maintain a high growth rate in the face of the reality that land, labor, and capital resources cannot be expanded infinitely. While the role of total factor productivity in growth is gradually increasing, this contribution is expected to reach approximately 59 percent by the end of 2025.
Digital Economy and E-Commerce
While the city's digital economy maintains an annual growth rate of about 20 percent, this rate corresponds to roughly three times the overall gross domestic product growth rate. The e-commerce sector exhibits growth of up to 37 percent, making a significant contribution to the service sector.
New Regional Mega City Model
Following the merger of Binh Duong and Ba Ria-Vung Tau provinces, Ho Chi Minh City's population has exceeded 14 million, expanding its development area. The 2026-2030 period marks a new era in which the city operates under a regional mega city model.