This is an annual program within the framework of the Vietnam Innovation Initiative (InnovateVN) initiated by NIC with the companionship of META Group and major domestic and foreign technology partners in order to promote innovation-based economic growth with new business models, products and processes.
The initiative aims to assist the development of 500 pioneering innovation businesses by 2030, and help improve the public sector’s innovation capacity. InnovateVN also plays the core role in nurturing a comprehensive innovation ecosystem in Vietnam and developing the country into an attractive destination for global technology and innovation investors with the participation of 500 global corporations.
Vietnam Innovation Challenge: For a prosperous Vietnam
Minister of Planning and Investment Nguyen Chi Dung addressed at the launching ceremony that science-technology, innovation and digital transformation play an important role in the development of all countries, including Vietnam. Vietnam has undergone rapid growth after 35 years of doi moi but also faces external and internal challenges of the economy, economic transformation, and economic integration. Vietnam strives to be a developing country with a modern industrial base and upper-middle income status by 2030, and to be a developed, high-income country by 2045.
The MPI has established Vietnam innovation network to gather experts and scientists worldwide. Eight offices aboard are established and connected with 10,000 Vietnamese experts working in large corporations and universities. This is an invaluable resource of Vietnam and needs to ultilise, connect, share and cooperate to create great benefits, he noted.
Join hands to form, test and implement innovative initiatives
VIC 2022 will focus on resource mobilisation, personnel training and technology solutions. We need to have faster, stronger, pioneer and forefront soulutions to address major challenges, seize opportunities and bring practical benefits to the country, Minister Dung emphasised.
All support will help the VIC successful, he said. The initivative make significant and substantial contributions to promote the competitiveness of both enterprises and the country in order to achieves its goals and aspirations.
The minister called for cooperation between the public, the private sector, and domestic and foreign partners to jointly form, test, and implement innovative initiatives for the prosperity of Vietnam.
Innovation with digital transformation businesses, joining global value chains
VIC 2022 themed “Innovation with digital transformation businesses, joining global value chains”. Foreign investors and large domestic enterprises tend to purchase components, materials and goods from domestic firms instead of importing. This bring great benefits to Vietnam to support business growth, export expansion, job creation and easy access to international markets.
Rafael Frankel, Director of Public Policy for South and Southeast Asia, Meta hailed the Government’s efforts to support Vietnam’s goals for digital transformation and its Industry 4.0 vision. Meta is actively supporting this transformation with many key initiatves.
Frankel said this initiative is another testament of Meta’s long-term commitment to collaborate with the Vietnamese Government and the private sector to promote innovation and digital transformation. He was confident that the solutions sought from this annual challenge with serve as catalysts to expedite Vietnam’s digital transformation and to increast competitiveness of over 800,000 small and medium sized enterprises (SMEs) in Vietnam, which makes up more than 98 percent of the total number of businesses.
He said, Vietnam could be a regional leader in green economy, techonology, create millions of new jobs, produce more unicorns than before and unlock new socio-economic opportunities.
VIC 2022 seeks innovation and digital transformation solutions to enhance the capacity of SMEs, including: improving the governance capacity of SMEs through increasing production and business efficiency and expanding revenue from new business models; strengthening links between foreign-invested and domestic SMEs; supporting Vietnamese SMEs to grow strongly to improve their position in the global value chain; and reinforcing connectivity and the effectiveness of policy dialogue between the government and businesses./.
Ministry of Planning and Investment