The facility is the second of its kind in Southeast Asia and the 19th worldwide. It is established as part of cooperation between the Vietnamese Government and the World Economic Forum (WEF) for 2023-2026.

Addressing the event, Prime Minister Pham Minh Chinh treasured active efforts of the leaders of Ho Chi Minh City and WEF leaders, especially Professor Klaus Schwab, enterprises, international partners, organizations and individuals who have accompanied Viet Nam to build the center.

The center is expected to concretize the Party's policies and guidelines on science and technology, innovation; apply achievements of the Fourth Industrial Revolution, accelerate the process of industrialization and modernization in Viet Nam; meet practical requirements of national development; contribute to international integration in the fields of science and technology, innovation, and help Viet Nam deeply participate in the Fourth Industrial Revolution.

In addition, the establishment of the center also represents the pioneering role of Ho Chi Minh City – a hub for economy, finance, commerce, science-technology, and culture in the region, demonstrates the aspiration and pride of the country. The project also reflects the close relationship between Viet Nam and WEF, he said.

Chairman of the municipal Ho Chi Minh City People's Committee Phan Van Mai said that the C4IR in HCM City will benefit from the synergy of leading Vietnamese technology enterprises and leverage the knowledge and experience of the global C4IR network to provide support, advice, proposals, and recommendations for solutions, policies, and initiatives in line with Viet Nam's directions and international technology trends. /.