Hanoi (VNA) – Relevant agencies and sectors 🌌should strengthen collaboration in providing support and creating favourable conditions for science and technology enterprises to further boost their development, said 🧸Phan Thi My Yen, Deputy Chairwoman of the Vietnam Association of Science and Technology Enterprises (VST).

Yen, who is also the Secretary-General of the association, made the statement at an annual conference and workshop on solutions for implementing policies for science and technological businesses hosted by the VST in the northern province of Thai Binh on September 28. Support policies will encourage science and technology businesses to actively invest in researching, developing, and producing standardised products and technologies that meet market demand and can compete in both domestic and international markets, she said.  Participants focused their discussion on solutions to promote the development of science and technology enterprises, stressing that science and technology have become crucial fields in the nation's economic development. The research and application of science and technology, and innovation have yielded remarkable results, affirming Vietnam's position on the international arena, they said. The Party and State's policies have provided the impetus to drive remarkable advancements in science and technology, participants said, noting that there are still many challenges that need to be addressed to help technology enterprises truly take flight. According to statistics presented at the conference, as of 2022, there were 712 out of the total 3,000 potential science and technology enterprises recognised nationwide. The majority of these enterprises have been running effectively, creating a lot of employment for labourers. Many of them are also among the top 500 fastest-growing companies in Vietnam. Deputy Minister of Science and Technology Nguyen Hoang Giang highly valued the role played by the VST in recent times for successfully gathering and mobilising numerous exemplary enterprises to join the association, including "leading" enterprises in the field of science and technology. According to VST Chairman Labour Hero Hoang Duc Thao, the above-mentioned achievements recognise significant contributions of businesses, especially science and technology firms with high investment rates and productivity. However, many enterprises have not achieved the desired results in terms of commercialising their products in the market, he noted. Limited technology transfer has resulted in low effectiveness in business and reinvestment, Thao said. On the other hand, the implementation of support policies is not truly consistent, leading to modest scientific and technological development, and businesses do not consider science and technology as a core foundation for business, he said. Decree No.13/2019 is a policy breakthrough to support the operation of science and technology enterprises with incentives on corporate income tax, land, and credit, he said.  According to the VST’s member enterprises, there is no practical mechanism in place to protect the technology market, while the policies and mechanisms supporting innovation are not consistent. Thao recommended that the State should promptly issue a Decree guiding the implementation of provisions related to incentives for innovative activities. Organisations under the Ministry of Science and Technology need to intensify cooperation with local authorities to organise the implementation of Decree 13, towards ensuring that all enterprises benefit from this decree, he said. According to Tran Xuan Dich, Deputy Director of the Ministry of Science and Technology’s Department of Market Development and Science and Technology Enterprises, in recent times, the State has issued several preferential policies to support science and technology enterprises. The ministry is currently working on a proposal to amend the Law on Science and Technology, he stated. The amendment will provide recommendations to the Government for the issuance of a specific and clear programme to develop science and technology enterprises, and financial support mechanisms to help them access preferential loans for their research and technology innovation projects, Dich said./.