Developing an innovation ecosystem according to Mr. Pham Duc Nghiem - Deputy Director of the Department of Market Development and Science and Technology Enterprises, Ministry of Science and Technology:

The survey shows that only about 5-6% of Vietnamese enterprises are capable of absorbing modern production technology, while technology creates new growth for the whole economy.

According to statistics, in the period 2012-2022, there are many industries with strong technological innovation such as the textile industry. However, to effectively innovate technology, businesses need specific support policies on cheap capital. That is not to mention cheap human resources also need to pay attention and solve soon.

In terms of innovation, Vietnam is ranked 43rd in the world for good innovation. Vietnam is a leading innovation destination in Southeast Asia. In 2021, the whole country has attracted 1.5 billion USD for innovation activities. In order to catch up, accompany and get ahead in innovation, it is necessary to have appropriate institutions and policies, creating conditions for the development of the innovation ecosystem. Partial innovation could be implemented for 800,000 businesses instead of outright innovation. Along with that, it is necessary to have a policy to shift the technology structure from developed countries to production in Vietnam, gradually reducing the rate of technology import which accounts for 75% at present.

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