Transaction value in local science-technology market up 22 pct. annually over last decade
The transaction value in Vietnam’s science-technology market posted average annual growth of 22 percent during the 2011-2020 period, a recent conference reviewing the 10-year development of the market heard.
Vietnam ranked 42nd among 131 economies in the 2020 Global Innovation Index (Photo: VNA)
Hanoi (VNA) - The transaction valu♏e in Vietnam’s science-technology market posted average annual g꧒rowth of 22 percent during the 2011-2020 period, a recent conference reviewing the 10-year development of the market heard.
Held jointly by the Ministry of Science and Technology (MoST) and the University of Economics - HCM City, the conference focused on assessing achievements and shortcomings in the development of the science and technology market over the last decade and to set orientations for the next 10 years.
Vietnam currently has over 800 market intermediaries and the number of transaction platforms rose from eight prior to 2015 to 20 in 2020.
Along with traditional intermediaries, new-style organisations have developed strongly, with 69 business incubators and 28 business promotion programmes.
Participants in the conference reviewing the 10-year development of the science-technology market (Photo: VNA)
In the 2020 Global Innovation Index (GII), Vietnam ranked 42nd among 131 economies. Among those making the most significant progress in their GII innovation ranking over time, Vietnam led 29 lower middle-income countries and was third in Southeast Asia. Last year, it moved up 13 places from the previous year to 59th in the rankings of 100 economies with the best start-up ecosystems.
Tran Van Tung, Deputy Minister of Science and Technology, said that during the 2021-2030 period the ministry will focus on completing the legal environment and promoting scientific and practical research for the development of the science and technology market.
It will also work to remove barriers facing development, improve human resources training, and develop national infrastructure for the market./.
Vietnam has been striving to improve its legal framework and policies on science and technology in order to boost productivity and economic competitiveness and make innovation a driver of growth.
The Ministry of Information and Communications (MIC) will take proactive steps to develop digital infrastructure, including the rollout of commercial 5G mobile services, which are expected to contribute 7.34 percent to national GDP growth by 2025, Deputy Minister Phan Tam has said.
Prioritising resources for the research, application, and transfer of science and technology to diversify food products to ensure nutritional balance and food safety in people’s diet is one of the long-term targets set in the Government’s resolution on ensuring national food security until 2030.
The Prime Minister has approved a project on developing the agricultural biotechnology industry to 2030 with the aim of optimising the country’s potential in researching, applying, and mastering advanced biotechnologies in the agricultural sector.
Deputy Prime Minister Vu Duc Dam said at working session with the Ministry of Science and Technology on April 13 that breakthroughs in science-technology are needed for the country to gain speed in development.
With its own capabilities and the close, experienced partnership of the International Atomic Energy Agency (IAEA), Vietnam is well-positioned to pursue its first nuclear power plant that meets the highest international safety standards. Ambassador Vu Le Thai Hoang, Permanent Representative of Vietnam to the United Nations and International Organisations in Vienna, Austria, talked to the Vietnam News Agency about the country’s deepening cooperation with the International Atomic Energy Agency (IAEA) in applying nuclear technology for peaceful purposes.
Vietnamese businesses, particularly small and medium-sized enterprises (SMEs), must embrace digital and AI transformations to remain competitive and achieve sustainable growth, experts said.
Under the European Union (EU)’s global initiative on Chemical, Biological, Radiological, and Nuclear (CBRN) Risk Mitigation Centres of Excellence (CoE), Vietnam has implemented numerous projects aimed at strengthening national capacity in detecting, preventing, and preparing for CBRN-related threats.
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.
Vietnam ranked 42nd among 131 economies in the 2020 Global Innovation Index (Photo: VNA)
Participants in the conference reviewing the 10-year development of the science-technology market (Photo: VNA)
