Innovation – strategic driving force for Vietnam's breakthrough in new development cycle
Despite recognising the importance of innovation, Vietnam still lacks specific mechanisms and policies to promote innovation in key emerging fields in business and technology.
Students of the University of Engineering and Technology under the Vietnam National University, Hanoi practice in a laboratory. (Photo: VNA)
Hanoi (VNA)ꩵ – As Vietnam is entering a new era – the era of the nation's rise, together with science – technology development, and digital transformation, innovation is a strategic driving force that will help Vietnam make a breakthrough in a new development cycle.
Minister of Science and Technology Nguyen Manh Hung said that innovation involves promoting technological advancements in enterprises to increase labour productivity, mostly through preferential loans and tax reductions. Innovative startups are encouraged with new business models and technologies mainly via venture capital funds and regulatory sandbox mechanisms that allow staff to think, act, and boldly pilot new ideas and solutions outside the current institutional environment.
Science, technology, innovation, and digital transformation must aim for the ultimate goal of enhancing national competitiveness, contributing to socio-economic development, ensuring national defence and security, and improving the quality of life for the people, he said.
The contributions of science, technology, innovation, and digital transformation to economic growth must be identified and measured properly, Hung said.
The Minister also pointed out that the allocation of scientific and technological resources to research institutions must be based on effectiveness. For example, an investment of 3% of the State budget in science-technology development, innovation and digital transformation should yield a corresponding 3% GDP growth.
Despite recognising the importance of innovation, Vietnam still lacks specific mechanisms and policies to promote innovation in key emerging fields in business and technology. The existing mechanisms and policies are not conducive to developing an innovation ecosystem.
According to Director of the Institute for Brand and Competition Strategy Dr. Vo Tri Thanh, innovation in Vietnam has been slow in recent years. To change development methods and growth models, Vietnam needs to rely more on innovation and increase labour productivity.
Previously, the innovation ecosystem included the State, research institutions, schools, and businesses, with the State at the centre of innovation. Now, businesses must become the focal point of national innovation, Thanh said.
The Mekong Delta Innovation and Startup Centre. (Photo: VNA)
Nguyen Mai Duong, Director of the Innovation Department under the Ministry of Science and Technology, said that in the fourth Industrial Revolution, innovation is no longer an option but a vital factor for enhancing national competitiveness.
After the Politburo issued Resolution 57 on breakthrough development in science, technology, innovation, and national digital transformation, the ministry is urgently finalising draft amendments to the Law on Science, Technology, and Innovation. The draft will include many mechanisms and policies to promote innovation, for example, decentralisation, simplifying administrative procedures, digital transformation in scientific research and technology development, with businesses at the centre of the national innovation system.
Additionally, the process and procedures must be simplified, and digital transformation will be intensified in scientific research, technology development, and innovation, particularly in state management, to enhance transparency, ethics, and integrity in scientific and technological activities.
Duong assessed that innovation policies in Vietnam are being refined. Vietnam is gradually asserting its position as an attractive destination for the semiconductor and artificial intelligence industries.
Many programmes will support high-quality human resource training in AI, semiconductors, and other scientific fields, combined with partnerships with major global technology corporations for technology transfer and development experience.
With the convergence of AI and semiconductor technology, Vietnam is facing a new cycle of opportunities, where science, technology, and innovation are not only development drivers but also keys to help the country break through and grow strongly on the global technology map.
Vu Quoc Huy, Director of the National Innovation Centre, stated that the government has tasked the centre with building and implementing the human resource development programme for the semiconductor industry by 2030 with a vision towards 2050 and coordinating the national steering committee for semiconductor industry development to promote the semiconductor sector.
In AI, the centre has also launched important initiatives in collaboration with global leaders such as Google, Meta and NVIDIA.
Huy affirmed that Vietnam welcomes global partners and corporations to continue exploring investment opportunities in innovation in Vietnam. The Vietnamese government is committed to creating the most favourable conditions for investors and businesses in the field of innovation./.
The world has gone deeply into the Fourth Industrial Revolution, and Resolution No.57-NQ/TW on making breakthroughs in science, technology, innovation, and national digital transformation is a positive signal showing that Vietnam is already embracing and engaging in change.
Under the MoU, both sides will promote cooperation in research and innovation among policymakers, government agencies, research institutions, universities, and businesses to support digital transformation and drive technological advancements in the southern city.
It is tasked with studying and proposing the Government and the PM national strategies, policies, and solutions for developing science, technology, innovation and digital transformation. Besides, it is in charge of overseeing the implementation of project No. 06 on developing the application of population data, identification, and e-authentication data, as well as administrative reform efforts.
The course aims to promote knowledge exchange between scientific and educational schools from different countries, while deepening participants’ expertise in modern technology and technical education. It comprises two main specialisations of electronics-automation and nuclear technology.
ANTARA and VNA can design global-scale cooperation programmes or joint media campaigns, demonstrating the comprehensive strategic partnership between Vietnam and Indonesia, as well as the cooperation between the two national news agencies.
As Vietnam’s digital transformation accelerates, both the frequency and severity of cyberattacks are growing. The National Cybersecurity Association (NCA) reported that in 2024 alone, there were some 659,000 separate cybersecurity incidents, impacting around 46.15% of government agencies and businesses.
A key highlight will be the technology cluster pavilion, showcasing top enterprises selected for their innovation, market potential, and practical applications. These firms will display flagship products and solutions, supported by government policies to strengthen the tech sector.
Since 2022, more than 500 Vietnamese startups have engaged in Google’s Startup Academy, Google for Startups Accelerator, and Google Startup Masterclass. Nearly 100 of these firms received support to develop and improve their products, benefiting more than 300,000 customers and creating over 300 new jobs through successful fundraising and team expansion amidst Vietnam’s competitive economy.
Over the past three decades, Binh Duong has cemented its status as one of Vietnam’s most dynamic industrial hubs, building a robust foundation in manufacturing, exports, and investment. The province now has 30 operational industrial parks spanning over 13,000 hectares, with an occupancy rate exceeding 90%.
The diplomat emphasised that Vietnam places the highest priority on the development of science, technology, and innovation, viewing them as critical drivers for the country’s advancement in the new development era.
The PM revealed Vietnam’s plan to develop nuclear power in the near future, and called on the Swedish side to assist Vietnam in developing and refining legal and policy frameworks for the use of nuclear energy for peaceful purposes; training and developing human resources; ensuring nuclear safety; and conducting training and drills to improve incident management capabilities.
More than an art showcase, the second “Technology with heart” contest seeks to inspire innovation and spotlight the humanistic values that technology can bring into daily life, expected to contribute to a sustainable digital future.
The average speed of the national mobile broadband network remained stable, with download speeds reaching 76.86 Mbps and upload speeds reaching 26.98 Mbps.
Under the MoU, AMD will support several key initiatives spearheaded by HCM City’s authorities, including piloting policies, co-hosting innovation events, and evaluating the investment environment within the Saigon Hi-Tech Park.
The centre is a joint initiative between Australia’s Department of Foreign Affairs and Trade and Vietnam’s Ministry of Science and Technology, with PTIT and the University of Technology Sydney (UTS) serving as co-leads, and global telecommunications giant Nokia as founding industry partner.
The new centre, staffed by a team of scientists, researchers, and AI specialists working in Hanoi and Ho Chi Minh City, forms part of Qualcomm’s global AI research group.
As a flagship initiative of the community project “Digital Literacy for All”, the programme forms part of a national scheme to equip 20 million young people with digital business skills.
The organisers hope the competition will help shape a generation of exceptional engineers who will make significant contributions to Vietnam’s scientific and technological progress in this era of transformation.
In the digital age and amidst the Fourth Industrial Revolution, IP plays an increasingly critical role, not only in safeguarding inventions but also in reducing copyright infringement and curbing piracy.
Ambassador Nguyen Minh Vu laid stress on the significance of the Hanoi Convention, particularly to the Asia – Pacific, to handling legal gaps in international cooperation against rapidly increasing global cybercrime.
The week features a rich lineup of activities, including a plenary conference on blockchain and AI development, thematic seminars on future technology trends and investment visions, applications of blockchain and AI in business, the Super Vietnam PitchFest, as well as forums for blockchain and AI.
