TikTok, Singapore-based industrial group urge Ho Chi Minh City to step up dialogue, attract tech investment

Speaking on the sidelines of the Autumn Economic Forum 2026 on Monday, executives from ITO Group Holdings and TikTok Vietnam shared their views on opportunities in emerging technology sectors and their expectations for cooperation with Ho Chi Minh City.

More major manufacturers needed to develop high-tech industries

Peter James Opdahl, chairman of ITO Group Holdings, said the company chose to invest in Vietnam in 2012, when it saw a wave of technology and manufacturing shifting from Japan to South Korea and China before expanding further into Southeast Asia.

According to Opdahl, the biggest challenge when the company first invested in Vietnam was a shortage of experienced personnel in industrial automation.

After nearly 15 years, the company has built a local team of engineers capable of handling the entire process of design, research and development, software programming, and equipment manufacturing for international customers.

Supply chains remain another challenge for Vietnam's industrial automation sector.

With a less developed network of suppliers of components, chips and industrial parts than those in China, South Korea and Japan, companies have to import many components, increasing production costs and lead times.

Opdahl said Vietnam should continue attracting leading global high-tech manufacturers such as Apple, Samsung, LG, Philips, Siemens and Tesla to create more demand for the industrial automation sector and promote the development of domestic supply chains.

ITO is currently building a new factory to manufacture automation equipment at Vinh Loc Industrial Park, with plans to recruit hundreds of additional workers.

Regarding new growth drivers, Opdahl said Vietnam should seize investment opportunities in artificial intelligence (AI) but avoid focusing exclusively on the sector.

Power generation, electric vehicles and data centers also offer significant potential for future growth.

Businesses seek more direct dialogue with Ho Chi Minh City

Nguyen Lam Thanh, general director of TikTok Vietnam, praised this year's Autumn Economic Forum for bringing together representatives of international organizations and major corporations in finance, technology and the digital economy.

Thanh said the participation of international experts and businesses offered an opportunity for Ho Chi Minh City leaders to hear new perspectives and proposals and put them into practice in the city's development.

He noted that following the expansion of its administrative boundaries, Ho Chi Minh City had become an increasingly large economic hub, meaning its changes and development would make an important contribution to Vietnam's overall growth.

For TikTok, Ho Chi Minh City is not only a market but also home to many of the company's partners, suppliers and workers. Cooperation with the city is therefore one of TikTok's priorities in the coming period.

Thanh said TikTok hoped the city's authorities would support and work alongside the company's projects and initiatives, enabling it to provide better services to residents at lower costs.

According to the TikTok representative, the opportunity for businesses to communicate directly with city leaders is one of the key benefits of the Autumn Economic Forum.

"This is an opportunity for businesses to engage in direct dialogue with city leaders," Thanh said.

The Autumn Economic Forum 2026 opened in Ho Chi Minh City on Monday, kicking off four days of discussions on technology, innovation, and new growth drivers.

The forum attracts more than 1,500 delegates, including senior officials, representatives of international organizations, experts, and business leaders from Vietnam and abroad.

Its two main days, Tuesday and Wednesday, are co-branded with the World Economic Forum for the first time.