Vietnam is increasingly integrating deeply into the world economy, along with the multi-dimensional impacts of globalization, trade liberalization and the ever stronger development of world science and technology. This is both an opportunity and a great challenge for countries like Vietnam.

To solve the above problem, Vietnam needs solutions to boost the manufacturing capacity and technology absorption of domestic enterprises to make a significant contribution to the production and export of high-tech products. Specifically, it is necessary to implement programs to promote technology transfer from countries with advanced technologies in the world to domestic enterprises; formulating and implementing policies to support domestic enterprises in technological innovation, especially high technology, through the transfer of intellectual property rights.

At the same time, developing high-quality human resources, improving S&T infrastructure and business environment, promoting foreign direct investment (FDI) enterprises to invest in technology transfer and deploy operations. Design and manufacture in Vietnam instead of increasing processing and assembling using cheap labor. Vietnam also needs to renew its growth model on the basis of improving the growth quality, labor productivity and competitiveness of the economy; develop industries with high added value, apply science – technology and employ high-quality labor, at the same time deeply participate in global value chains.

Along with that, it is necessary to place enterprises at the center of the national innovation system; building a government that creates development, serving people and businesses; ensuring the right to freedom of business and making efforts to create an equal and favorable business environment for enterprises; improve the quality of human resources for innovation; promote international integration to promote innovation and creativity in the country.

This requires a long-term strategy with a foresight to not only reap immediate economic benefits but also anticipate future economic development. In addition, ministries and branches together with S&T organizations need to draw up specific solutions suitable to each stage of the country’s economic development. What needs to be done now for Vietnam is to devote more resources to innovation activities, rebalancing the innovation system by placing enterprises at the center, coordinating S&T activities of state actors, and at the same time, encourage enterprises to build their own capacity and commit greater resources to innovation.

Specifically, it is necessary to develop and implement mechanisms and policies to encourage domestic enterprises to increase their research and innovation capacity; actively participate in the environment of international cooperation and competition; actively work with multinational corporations to acquire technology; develop new solutions, processes and products. It is also worth mentioning the emergence of the Industrial Revolution 4.0 when it comes to development orientations for S&T in this period. The combination of technologies in the fields of physics, digital technology and biology creates entirely new possibilities that have profound impacts on the political, social and economic systems of the world.

There can be enormous impacts on businesses, on governments, on the labor market, and directly on people. Thus, Vietnamese businesses need support from policies to promote innovation and application of science and technology to exploit opportunities as well as face challenges from the industrial revolution 4.0.

First of all, there are policies to encourage development, support enterprises to transfer and apply some new technologies, apply management and administration systems according to the trend of this revolution; as well as new policies and strategies on the development of automation and high-tech industries, specifically in specialized fields such as nanomaterials, energy and quantum computing, and artificial intelligence.

Source : VietQ