Synchronous planning, inter-regional connectivity and a transparent investment environment will create a strong lever for the business community to develop sustainably.
HCMC officially expands its boundaries, enhancing the competitiveness of businesses. Photo: Anh Tu
Three clear advantages when forming a megacity
According to Mr. Dang Hong Anh - Chairman of the Vietnam Young Entrepreneurs Association, the formation of a regionally connected "megacity" between HCMC, Binh Duong and Ba Ria - Vung Tau will open up a completely new urban - economic structure, contributing to creating positive resonance and enhancing the comprehensive competitiveness of the key economic region in the South.
“Previously, each locality had its own strengths such as Binh Duong with modern industry and logistics, Ba Ria - Vung Tau as an important seaport gateway, and Ho Chi Minh City as the economic locomotive of the country. When planned synchronously, with the same development orientation, resources and flexible operations, we will have a completely new urban - economic structure, creating positive resonance” - Mr. Dang Hong Anh commented.
From the perspective of the young business community, Mr. Hong Anh emphasized the expectation of a transparent investment environment, modern connecting infrastructure and a comprehensive innovation ecosystem. This is an important foundation to help Vietnamese enterprises improve their competitiveness, increase the effectiveness of international integration and nurture new “unicorns” of the country.
Firstly, regional linkage is the solution to the problem of local development. According to Mr. Hong Anh, for a long time, localities have had their own advantages but have not had a strong enough coordination mechanism to optimize common resources. Once the infrastructure, policies and markets are planned in a general way, the whole region will become an economic entity of sufficient scale and attractive to global investors.
Secondly, the business community will benefit greatly from inter-regional connectivity: high-quality human resources are no longer limited by geography; freight transport, import and export become more flexible; input costs decrease, productivity increases. These factors are positive signals to attract more investment capital and encourage businesses to restructure and expand their operations.
Thirdly, this region with a large population and rapid urbanization will become one of the largest consumer markets in the country. This opens up strong development opportunities for the retail, service, technology and creative start-up industries. This is also the ideal environment for young businesses to pursue large-scale innovation.
Establishing clear regional coordination principles
However, to realize this potential, it is necessary to clearly establish regional coordination principles. There must be flexible, transparent, and unified institutions in licensing, taxation, and administrative procedures to facilitate business development.
In particular, it is necessary to ensure fair opportunities for small and medium-sized enterprises, avoiding the situation of being "inferior" in the new game, thereby building a fair business environment, healthy competition, and sustainable development.
"Expanding urban space not only opens up opportunities for investors but also helps domestic enterprises participate more deeply in inter-sectoral, inter-provincial, and even inter-national value chains," Mr. Hong Anh affirmed.
Under the strong movement of the new economic space, young enterprises have proactively restructured and expanded the investment ecosystem in a long-term orientation.
As Chairman of the Vietnam Young Entrepreneurs Association, Mr. Dang Hong Anh pledged to continue to accompany the business community across the country, especially the younger generation. At the same time, he pledged to stick with the development process of Ho Chi Minh City - building a transparent, dynamic, inter-regional connected investment environment and nurturing the desire for innovation.
"I expect this expanded urban area to become a super platform to help Vietnamese businesses develop sustainably and reach out globally. In the near future, Ho Chi Minh City will be honored to be in the top 100 most livable cities in the world" - Mr. Dang Hong Anh expressed.
According to Lao Dong Newspaper