Ho Chi Minh City expands innovation startup space

Ho Chi Minh City is steadily strengthening its position as one of Southeast Asia’s leading innovation and startup hubs, as local authorities accelerate efforts to expand the city’s innovation ecosystem and attract greater investment into high-tech industries and entrepreneurship.

Currently ranked 110th among the world’s most dynamic startup ecosystems and among Southeast Asia’s top five, the southern economic hub is seeking to build on its existing strengths to move into the world’s Top 100 startup cities in the coming years. According to the municipal Department of Science and Technology, the city has developed an innovation ecosystem valued at an estimated 7.5 billion USD. The city is home to nearly 30,000 information and communications technology (ICT) enterprises, accounting for around 40% of the country’s total.