Ho Chi Minh City seeks stronger ties with South Korean tech companies

The city’s vice-chairwoman Tran Thi Dieu Thuy hosted a meeting with a delegation from the Vietnam-Korea Businessmen & Investment Association (VKBIA), the Gyeonggi Province Economic and Science Promotion Agency, and representatives from Pangyo Techno Valley on Monday.

Expanding scientific, technological cooperation

Gyeonggi is one of 12 Korean localities that have established sister relationships with Ho Chi Minh City.

This province is home to Pangyo Techno Valley -- a modern research and development complex with strengths in information technology, biotechnology, and cultural technology.

At the meeting, Thuy acknowledged VKBIA’s efforts in connecting Vietnamese and Korean businesses while welcoming the presence of Gyeonggi enterprises in the southern city.

Thuy shared the city’s vision and development strategy, particularly in science and technology, innovation, and digital transformation, aiming to be among the world’s top 100 most livable cities by 2030 and 2045.

The leader affirmed that the city always welcomes opportunities to expand cooperation with international partners.

“In this development journey, we look forward to continued companionship and support from international friends, including Korean businesses. Particularly, science and technology is a field that the city always values and considers a key factor in its sustainable development strategy and creating a solid foundation for innovation,” she stressed.

Building ‘Silicon Valley’ in Ho Chi Minh City

At the meeting, representatives from the Pangyo Techno Valley introduced the 'Korean Silicon Valley' development model and experience in building an innovation ecosystem, supporting startups, and attracting high-tech investment.

The companies also encouraged Ho Chi Minh City to establish a Vietnam - Korea Innovation Connection Center, develop similar 'Silicon Valleys' within Ho Chi Minh City's metropolitan area, and attract capital flows from Korean and international investment funds into the city’s International Financial Center.

The Korean businesses hoped the city would continue to streamline policies and procedures to help Korean technology companies easily participate in the market.

The VKBIA was committed to playing a bridging role, promoting substantial cooperation activities, and creating conditions for Vietnamese businesses to learn from Pangyo’s experience and participate in global value chains.

Responding to these proposals, Thuy welcomed initiatives of industrial orientation, innovation, high technology, transformation, and smart city development of enterprises from Gyeonggi, committing to create a favorable environment for investment activities.

The city leader also assigned relevant departments and agencies to coordinate research and provide recommendations on the proposals, including establishing the Vietnam - Korea Innovation Center and attracting international investment capital.