The 20th anniversary of Ho Chi Minh City High-Tech Park took place on October 29

Mai said that after 20 years of development, SHTP has contributed to transforming the city's economic structure and improving the quality of growth according to industrialisation and modernisation. Investment has increased over 20 years in quantity and quality with globally competitive products.

However, Mai said that compared with the original goal, SHTP needed to make more efforts to realise the goals of developing a technology incubator and a human training centre, applying and transferring high technologies, developing supporting industries, and increasing localisation.

Mai said that the city would complete the development strategy of SHTP in the new period. A restructuring plan will be issued to select industries and fields that are high-tech such as the semiconductor chip industry, biotechnology, renewable energy and the environment.

To attract high-tech industries, in the coming time, the city will focus on completing infrastructure, as well as the legal and organisational structure of SHTP in accordance with international criteria.

The city will also expand SHTP Phase 2 with the function of an open creative park.

As an investor operating in SHTP, Truong Gia Binh, FPT chairman of the Board of Directors, said that the park possesses the potential to become "the nucleus of Ho Chi Minh City, an intellectual centre of the region and a green pearl of the world."

“Ho Chi Minh City will have the opportunity to lead the world in the development of new technologies such as AI, Blockchain, Metaverse, icloud, researching and developing the latest technologies in clean energy as well as energy storage methods such as hydrogen and electric motors and a new generation of clean energy vehicles,” said Binh. “Hopefully, world corporations will continue to see Vietnam not as a cheap human resource but as an innovation centre with many young people and a good education system."

Minister of Science and Technology Huynh Thanh Dat said that SHTP needs to create new industries for the country to be a leader in research and development and innovation.

He said that the Ministry of Science and Technology was finalising a draft decree to submit to the prime minister to remove some policy obstacles and create a more favourable legal corridor for attracting investment in high-tech industrial parks.