FDI enterprises urged to step up technology transfer
Experts at a conference in Hanoi on June 25 stressed the need for measures to increase the efficiency of technology transfer of FDI businesses in Vietnam.
It is necessary to seek ways to increase the efficiency of technology transfer of FDI businesses in Vietnam, heard a conference in Hanoi on June 25 (Source: VNA)
Hanoi (VNA) – Experts at a conference in Hanoi on June 25 stressed theneed for measures to increase the efficiency of technology transfer of FDIbusinesses in Vietnam.
Speaking at the event, Deputy Minister of Planning andInvestment Nguyen The Phuong said that after 30 years Vietnam opening its doorto foreign investors, the FDI sector has become an important part of thecountry’s economy. In the first half of 2018, foreign investors pour capitalinto 1,362 new projects, and 507 existing projects and contribute capital tobuy shares of Vietnamese businesses in 2,748 projects, with a combined capitalof over 20 billion USD.
Foreign investments account for 25 percent of the country’stotal investments and contribute 20 percent of GDP. Last year, the sectorcontributed nearly 8 billion USD to the State budget, making up 14.4 percent oftotal revenue.
At present, 58 percent of foreign investments focus onprocessing and manufacturing, generating 50 percent of industrial productionvalue.
Along with creating jobs and increasing the quality of humanresources, FDI enterprises have helped transfer advanced technologies todomestic ones.
However, the transfer work has yet to meet expectations,Phuong stated, adding that foreign-invested enterprises do not create a closelinkage with Vietnamese ones yet to participate in the value chain together.
Deputy Director of the Central Institute for EconomicManagement (CIEM) Nguyen Thi Tue Anh said that pervasive influence from FDIbusinesses’ technology transfer remains weak, as few Vietnamese businesses gainaccess to their supply chains.
Therefore, she emphasised the need to create an equallycompetitive environment so that FDI and domestic enterprises can competehealthily and coordinate in production.
Meanwhile, Nguyen Huu Xuyen from the National Institute forPatent and Technology Exploitation, stressed the necessity to soon complete alegal framework to make the National Technology Innovation Fund operateeffectively.
The fund must operate as a financial organisation and doesnot hamper businesses’ approach to preferential credit for technologyreception, transfer and innovation, he added.-VNA
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It is necessary to seek ways to increase the efficiency of technology transfer of FDI businesses in Vietnam, heard a conference in Hanoi on June 25 (Source: VNA) 
