Ho Chi Minh City well positioned to become connected growth hub: WEF CEO

Ho Chi Minh City has strong potential to become a highly connected growth hub, supported by its startup ecosystem, industrial capabilities, and international partnerships, the World Economic Forum's CEO says.

Stephan Mergenthaler, CEO of the World Economic Forum (WEF), said HCMC was well positioned to strengthen its role as a connected growth hub, linking Vietnamese businesses with global investors and technology partners.

Speaking at the opening plenary session of the 2026 Autumn Economic Forum in HCMC on Oct. 28, Mergenthaler identified three major drivers of global economic growth whose convergence could benefit Vietnam and its largest economic hub.

The first is intelligence, which can boost productivity, strengthen competitiveness, create better jobs, and raise living standards.

The second is the need to develop sustainable and resilient industries.

"For a dynamic manufacturing economy like Vietnam, this development is particularly important," Mergenthaler said.

The third is connectivity, which brings together ideas, capital, talent, and markets.

Cities play a key role by fostering innovation ecosystems where businesses and entrepreneurs can turn global opportunities into local economic activity, he said.

"We can see this right here in HCMC, which has many favorable conditions to strengthen its position as one of the highly connected growth hubs."

He cited the city's vibrant startup ecosystem, industrial capabilities, and commitment to international cooperation as foundations for linking Vietnamese enterprises with global investors and technology partners.

HCMC is home to more than 40 incubators and innovation centers and has a dynamic, open economy.

In the first nine months of 2026, the city's gross regional domestic product (GRDP) grew 9.06% year-on-year.

Exports reached approximately US$76 billion, up 10.6%, while foreign direct investment (FDI) exceeded $17.8 billion, an increase of 323.1%.

HCMC People's Committee Chairman Nguyen Van Duoc said the city's expanded administrative boundaries following its merger with neighboring localities had created new development opportunities and strengthened links among urban areas, industry, science, technology, and innovation.

Echoing Mergenthaler's emphasis on connectivity, Duoc said stronger integration was essential to the city's next stage of development.

The city's financial center, innovation ecosystem, and logistics sector could not operate in isolation but needed to become part of broader financial, trade, and supply chain networks.

Such connections would bring together capital, technology, knowledge, talent, and markets, creating new economic opportunities, he said.

"For HCMC, developing through stronger connections with other localities, industries, urban centers, financial and technology hubs, innovation ecosystems, and international partners is an objective necessity and an imperative," Duoc said.

The 2026 Autumn Economic Forum took place from Oct. 26 to 29, bringing together global science, technology, and innovation organizations, hundreds of international businesses, industry associations, and diplomatic representatives.

It was the second time HCMC had hosted the forum and its first partnership and co-branding arrangement with the WEF.