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HCMC – Technology transfers from foreign firms to domestic partners have been as scant as ever, said Nguyen Thanh Phong, chairman of HCMC, at a meeting with foreign firms on April 21.

In 1995, foreign-invested companies contributed around 11% to gross domestic product (GDP) in the city, and the figure has now risen to 17%. Their exports account for a staggering 55.9% of the city’s total.

They have created direct jobs for about 270,000 workers and millions of indirect jobs.

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