Global cooperation key to Ho Chi Minh City’s growth ambitions: international experts

The forum, held in Ho Chi Minh City from Monday to Thursday, places the theme of ‘Collaboration in a New Era’ at the heart of discussions as the city seeks to strengthen its position as a major growth engine for Vietnam and the wider region.

Fazurin Jamaludin, resident representative of the International Monetary Fund (IMF) for Vietnam and Laos, and Dutch Consul General in Ho Chi Minh City Raïssa Marteaux both underscored the importance of cooperation in driving economic growth.

International cooperation key to unlocking growth

During his first visit to Ho Chi Minh City, Jamaludin spotlighted the crucial role of dialogue platforms such as the forum as Vietnam pursues double-digit economic growth and seeks to mobilize capital for major investment plans.

From a global perspective, Jamaludin observed that the world economy had demonstrated considerable resilience in recent years.

However, this apparent strength masks significant disparities in countries’ ability to withstand shocks, depending on their exposure to energy disruptions and their capacity to capitalize on the technological advances driven by artificial intelligence (AI).

“Amid the heightened uncertainty, countries need to cooperate with one another more than ever,” Jamaludin stressed.

He identified three key areas where international cooperation is essential.

The first is energy security, where Vietnam has opportunities to deepen its integration with the Association of Southeast Asian Nations (ASEAN).

The second is trade, particularly the need to make trade rules more transparent and predictable.

The third is AI, a technology that transcends national borders.

Countries must work together to maximize its benefits while managing the associated risks, he said.

Turning to Ho Chi Minh City’s ambitions, Jamaludin emphasized that the city’s success as a pillar of a new growth hub would depend partly on the broader national economic environment.

“A strong macroeconomic framework at the national level will create the conditions for Ho Chi Minh City’s efforts to succeed,” he said.

Building on three city partnerships

The relationship between Vietnam and the Netherlands stood out for its complementarity and practical partnerships, said Consul General Marteaux.

This is particularly evident in the three sister-city relationships between Ho Chi Minh City and the Dutch cities of Rotterdam, Eindhoven, and Emmen.

Each partnership focuses on distinct areas of cooperation, allowing the two sides to leverage their respective strengths.

The Ho Chi Minh City-Rotterdam partnership centers on climate change adaptation, including measures to reduce flood risks, as well as logistics cooperation between the Port of Rotterdam and Ho Chi Minh City’s port system.

The partnership with Eindhoven focuses on high technology and semiconductors, while cooperation with Emmen emphasizes agriculture and hi-tech applications.

“These three partnerships complement one another extremely well, helping to boost bilateral cooperation and advance Ho Chi Minh City’s development as a growth hub,” Marteaux said.

Economic development is important, she noted, but growth cannot be sustained if the city remains vulnerable to flooding.

Likewise, while Ho Chi Minh City’s ambition to become a major logistics hub is commendable, achieving that goal will require adequate infrastructure, shared data systems, and effective cooperation.

To turn existing partnerships into tangible drivers of scientific and technological development for Ho Chi Minh City and its Dutch counterparts, Marteaux stressed the importance of transforming established sister-city relationships into a jointly developed technology ecosystem.

She said both sides should build on the established ‘triple helix’ model, which brings together government, universities and businesses, while extending this collaborative framework across the two countries.

Business-to-business connections are particularly important, enabling Vietnamese and Dutch companies to identify partners, explore opportunities and develop mutually beneficial commercial ventures.

“Looking at our existing partnerships, we are considering how they could be restructured to become more concrete and deliver greater benefits for Ho Chi Minh City,” Marteaux said.