Ho Chi Minh City discusses solutions after many declines at Ho Chi Minh City Economic Forum 2024

Press conference of the 2nd Ho Chi Minh City Friendship Dialogue and the 5th Ho Chi Minh City Economic Forum, 2024, held on the morning of September 12 - Photo: THAO THUONG

This is an annual international event organized by the Ho Chi Minh City People's Committee with this year's theme being "Industrial Transformation: Experience and Priorities in Development Cooperation", taking place on September 23 and 24.

At the press conference, Mr. Pham Binh An, Deputy Director of the Ho Chi Minh City Institute for Development Studies, cited the current context of Ho Chi Minh City when choosing the theme of the forum. Mr. An assessed that Ho Chi Minh City is a major center of economy, culture, education - training, science - technology of the whole country, but the city's position and central role are declining.

Mr. An listed that the city has nearly 300,000 enterprises, but 90% are small and medium enterprises, with weak competitiveness, the city's export rate is decreasing, there was a period when exports accounted for 45% of the country, in 2023 it will only be 12%.

The contribution to GDP used to be 22-23%, but only 16% last year; the contribution of the industrial sector to the economy gradually decreased, accounting for only 19% of GRDP in 2022, compared to the national average of 32%.

In addition, Ho Chi Minh City has developed in breadth in recent years, so the growth momentum has gradually dried up. Industrial infrastructure is limited, the area of ​​industrial land accounts for only 2.81% of the country, with increasingly expensive land prices.

"Therefore, Ho Chi Minh City needs to restructure the economy, transform industry with dual transformation and upgrade the value chain, develop core industries, and thereby seek new growth drivers," Mr. An emphasized.

If in 2022, Ho Chi Minh City chose the economic forum theme as digital economy, in 2023 it was green growth journey to Net Zero, according to Mr. An, this year the theme of industrial transformation is the process of applying science and technology to change business models, towards sustainable development; finding directions for industries with high added value.

Mr. An assessed that this is a trend in countries around the world , setting new standards that Vietnamese enterprises as well as Ho Chi Minh City enterprises cannot stay out of, otherwise they will lose the market.

Mr. Le Truong Duy, deputy director of the Ho Chi Minh City Department of Foreign Affairs, informed that the "silver thread" running through the event was friendly dialogue and economic forum, with industrial transformation as the core.

Mr. Nguyen Ngoc Hoa, Chairman of the Ho Chi Minh City Business Association, informed that the 5th Ho Chi Minh City Economic Forum 2024 will take place from September 24 to 27 with the theme "Industrial transformation, a new driving force for sustainable development of Ho Chi Minh City" with 1,500 domestic and foreign guests.

There are currently 40 local and international delegations confirmed to attend this year's forum from 20 countries, including: Laos, Cambodia, China, Cuba, the US, Japan, South Korea, Russia, India, Germany, Australia, Italy, Portugal, Belarus, Hungary, Uruguay...

Main activities of the 2nd Ho Chi Minh City Friendship Dialogue and the 5th Ho Chi Minh City Economic Forum, 2024:

- Morning of September 23: Offering flowers at Nguyen Hue walking street (District 1) and visiting the green exhibition.

- Morning of September 24: Friendship Tea Party and Mayors' Conference.

- Afternoon of September 24: Ceremony to announce the Ho Chi Minh City International Friendship Symbol at Bach Dang Wharf Park (District 1) and the inauguration and launching ceremony of the Center for the Fourth Industrial Revolution (C4IR) at Ho Chi Minh City High-Tech Park.

- Afternoon of September 24: Paragliding and hot air balloon performance on the banks of the Saigon River.

- September 25: Policy dialogue session with the Prime Minister.

Source: https://tuoitre.vn/tp-hcm-ban-giai-phap-sau-nhieu-giam-sut-tai-dien-dan-kinh-te-tp-hcm-nam-2024-20240912123839563.htm