Boosting the 'low-income economy' to realize the dream of international-level innovation.

DNVN - On the afternoon of December 9th, at a meeting with the science and technology community and the startup and innovation sector, chaired by the Secretary of the Ho Chi Minh City Party Committee, Tran Luu Quang, with the central theme of orienting the city to become an international-level digital economy and innovation center, Secretary Tran Luu Quang committed to prioritizing the development of the low-income economy.

Ho Chi Minh City Party Secretary Tran Luu Quang and other city leaders attended a meeting with the science and technology community and the innovation and startup community. Photo: Viet Dung/Saigon Giai Phong Newspaper.

During the dialogue, Party Secretary Tran Luu Quang frankly raised two major questions: how can Ho Chi Minh City become a leading center for science and technology, innovation, and digital transformation nationwide, and where should it begin, with what resources and priorities? He emphasized that developing science and technology is not only a mandatory task for growth but also an effective tool to address urgent urban social issues such as traffic congestion, flooding, environmental pollution, and the goal of "zero" drug use.

Breakthrough through the Low-altitude Economy (LAE)

One of the strategic solutions that has garnered particular attention from the business community and city leaders is the development of the low-altitude economy (LAE). LAE is an emerging economic ecosystem focused on activities and services taking place in the airspace below a certain altitude (typically below 1,000m-3,000m). This economy primarily leverages drone (UAV) technology, electric vertical take-off and landing (eVTOL) aircraft, and related technologies to create value in various sectors such as logistics, agriculture, surveillance, rescue, and healthcare.

Mr. Truong Gia Binh, Chairman of FPT Group, provided strategic information on Japan's strong shift in cooperation towards Southeast Asia, with Vietnam being the top priority, especially in the LAE sector. Mr. Truong Gia Binh envisions Ho Chi Minh City becoming the hub of unmanned aerial vehicle (UAVs), aiming for a scale of approximately $10 billion and creating 1 million jobs within the next 10 years. Currently, Vietnam's low-income economy has reached a scale of $100 million per year.

As proof of Vietnam's international technological competitiveness, Dr. Luong Viet Quoc, CEO of Real-time Robotics, stated that his "Made in Vietnam" drone has impressed US military officers. Dr. Quoc asserted that Vietnamese people are fully capable of producing UAVs and competing on equal footing globally, with R&D costs only 1/20 and production costs 30-40% cheaper than in the United States.

Institutional barriers and commitment to support

Despite its potential, experts also point out that the biggest obstacle currently is the complete "absence" of institutional frameworks. Mr. Truong Gia Binh stated that Vietnam currently lacks regulations on sandboxes (controlled testing mechanisms), standards, licenses, certificates of origin, or business conditions for this type of model.

Responding to suggestions and concerns from the community, Party Secretary Tran Luu Quang made concrete commitments to action. He affirmed his support for the "low-level economy" sector and UAV production due to its high feasibility. Ho Chi Minh City will encourage research, production, and application of unmanned aerial vehicles (UAVs) to serve the needs of the people. The Party Secretary encouraged technology companies to produce high-quality UAVs, and Ho Chi Minh City committed to being the first to use them for tasks such as search and rescue, traffic monitoring, and firefighting.

Institutionally and financially, Ho Chi Minh City will consider implementing a controlled testing mechanism (sandbox) for new models and technologies. In particular, the city is committed to providing tax incentives and waiving fees for any entity that boldly establishes a venture capital fund in the science and technology sector.

To realize these ambitions, the City Party Secretary assigned specific tasks: the Department of Science and Technology is the overall coordinating body, while the Ho Chi Minh City Institute for Development Research is responsible for proposing institutional frameworks, incentives, roadmaps, and priorities.

Concluding the meeting, Secretary Tran Luu Quang delivered an emotional appeal to the scientific and business community: "Let's dream big. Let's dream together a big dream. A dream to make Ho Chi Minh City a center of innovation... And to achieve that, we must start with the smallest, most concrete things, starting tomorrow."

Hien Thao

Source: https://doanhnghiepvn.vn/cong-nghe/day-manh-kinh-te-tam-thap-de-hien-thuc-hoa-giac-mo-doi-moi-sang-tao-tam-quoc-te/20251210040146337