Representatives of the Indian Chamber of Commerce and the HCM City Business Association (HUBA) sign a cooperation agreement at the seminar.

Speaking at a seminar on Vietnam-India potential collaboration organised by the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) in collaboration with the Indian Chamber of Commerce (ICC) on February 27, Hoan emphasised that information technology (IT) plays a pivotal role in the city's comprehensive development strategy.

The city identified IT not only as a key economic sector but also as a foundation for improving the quality of life for residents, enhancing administrative efficiency as well as fostering sustainable development.

Currently, Ho Chi Minh City is focused on investing in digital infrastructure and accelerating digital transformation across various sectors, including education, health care, transportation, and public services, aiming to build an e-government, digital economy, digital society, and smart city.

In 2024, it achieved milestones in the digital economy, with over 33,000 digital firms accounting for 12.88% and more than 30,000 platform-based enterprises making up 11.63%.

In the context of the fourth Industrial Revolution, the city works to ensure continuous investment in IT infrastructure to create a smart and innovative environment and attract both domestic and international technology enterprises, particularly those from India.

ICC General Director Dr. Rajeev Singh emphasised that cooperation between ASEAN and India has made significant strides in various economic fields, including trade and investment, connectivity, energy, culture, people-to-people exchange, and maritime security. The strong bilateral relationship between Vietnam and India has much potential to further enhance trade and investment cooperation.

Indian investment in Vietnam is estimated at about 2 billion USD, including the funding through third countries, covering energy, mining, agricultural processing, sugar production, tea, coffee, agricultural chemicals, information technology, and automotive components.

With Vietnam's commitment to developing smart urban areas, digital transformation, and sustainable environment, both countries have opportunities to promote strategic partnerships and extensive cooperation. This is also an opportunity for Indian businesses to collaborate with Vietnamese partners to expand their presence in the country and seek new investment opportunities, he said.