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Vietnam Govt Discusses Tech Innovation Assistance for Start-Ups

Image credit: VNA

The Minister of Science and Technology, Huynh Thanh Dat, has stated that supporting businesses develop and deploy new technologies is a critical task not just for the science and technology sector but also for state administrative agencies and local authorities. The work needs cooperation from government ministries, businesses, research institutions, and universities. He was speaking at a meeting organised by the Ministry, the Vietnam National University in Ho Chi Minh City, and the State Committee for Overseas Vietnamese Affairs.

Dat explained that considering businesses’ needs for technological innovation, the Ministry will adjust national science and technology tasks and programmes for the next five to ten years. He said the Ministry would also accelerate support for businesses via the National Technology Innovation Fund and the National Foundation for Science and Technology Development.

Participants at the event introduced policies and solutions to help enterprises establish cooperative links with local and international scientists and organisations to boost technological innovation. They also listed examples of successful cooperation models of technology transfer. As per reports, several scientists, universities, and research institutes unveiled new inventions and technologies to businesses. They also asked state administrative agencies to promote investment in hi-tech laboratories at major universities and serve as a bridge to connect them with the business community.

Experts suggested that the government should issue financial policies and mechanisms to support businesses in technological innovation. A database on scientific and technological advances in the country and abroad should be created to help businesses adopt new technologies effectively.

Last month, the government said it would create a digital economic consulting network at the communal level to assist small and medium-sized enterprises (SMEs) in their digital transformations. As OpenGov Asia reported, the Ministry of Information and Communications (MIC) explained that the network is one of the primary targets of a digitisation project, which was unveiled at the beginning of last year.

Through the portal, enterprises can learn more about digital transformation and suitable ways to approach it. They can also explore digital platforms that fit their specific requirements as the portal is linked to 23 Make-in-Vietnam platforms. As of 2021-end, the portal saw over 220,000 visits, and around 37,000 firms were able to access helpful information about digital transformation.

This year, the project intends to engage with 30 more Make-in-Vietnam digital platforms and deal with 150,000 more enterprises, of which 15,000 will be provided with necessary consultations. Data from a study on Vietnamese companies’ demand for digital transformation showed that 47% of responders consider digitisation essential but need further assistance in the process. Presently, there are around 785,000 SMEs in the country. They account for nearly 98% of the total enterprises and contribute approximately 50% of gross domestic product (GDP). The country plans to have 100,000 digital technology firms by 2025 and have at least ten firms compete in global markets. It also wants to have 10 localities with revenues of over US$1 billion from ICT and 10-12 IT zones.


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