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 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.
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.
VietNEST (Vietnamese Nurturing Education for Science & Traditions) is a mobile app and digital platform for Vietnamese language learning among overseas children.
The networks bring together universities, research institutes and domestic and foreign businesses. Members will work closely in training, research, and technology transfer by sharing curricula, improving faculty capacity, providing access to laboratories and research facilities, and jointly implementing science and technology projects.
The Better Choice Awards (BCA) 2025 is a key highlight in the lead-up to Vietnam Innovation Day that falls on October 1, an annual event expected to attract hundreds of innovative enterprises, research institutions, investment funds, and startups from both Vietnam and abroad.
The new line serves as a critical backup route, strategically complementing existing submarine cables and enhancing the resilience, proactivity, and security of Vietnam’s telecommunications infrastructure.
Vietnam is actively yet cautiously preparing for the construction of its first nuclear power plant in Ninh Thuan (now the south-central coastal province of Khanh Hoa). The resumption of the programme after years of suspension carries considerable significance for the nation’s development in a new era as it strives to gradually reduce and ultimately phase out coal-fired power to realise the Government’s commitment to Net Zero by 2050.
The government leader reaffirmed Vietnam’s goal of achieving self-reliance in the design, manufacturing, and test of necessary semiconductor chips by no later than 2027.
With the launching of its two-tier local administration model, the city is incorporating technologies such as artificial intelligence (AI) and blockchain to enhance service delivery for citizens and businesses, aligning with the Politburo’s Resolution 57-NQ/TW on breakthroughs in science, technology, innovation, and national digital transformation.
Vietnam has issued many key policies to support semiconductor development, notably the Politburo’s Resolution 57 on science, technology, innovation, and digital transformation. Other initiatives include the Semiconductor Industry Development Strategy to 2030, with a vision to 2050, and the Human Resources Development Programme for the Semiconductor Industry.
Vietnam is no longer just an emerging blockchain market, it is stepping into a leadership role, with global investors, developers, and experts recognising its growing potential to become a leading hub for digital assets in the region.
Taking place on August 1–2, the event features more than 20,000 attendees and over 200 speakers from Vietnam, the h Korea, Singapore, the UAE, Hong Kong (China) and the US.
Dung directed the Ministry of Science and Technology to revise the national startup scheme, ensuring it clearly defines the scope and content, grounded on strong political and legal foundations, international best practices, and well-reasoned arguments for submission to the Government.
The two-day academic forum, themed “Resilience, Sustainability & Digital Transformation in a Changing World: Perspectives from Southeast Asia”, aims to share interdisciplinary research insights, focusing on adaptive capacity, sustainable development, and digital transformation amid evolving global and regional landscapes.
With such a rapid economic growth, Vietnam must diversify energy sources and nuclear power is a rational choice to ensure the national energy security, said Associate Professor Kei Koga from the Nanyang Technological University (Singapore).
Deputy Prime Minister Nguyen Chi Dung emphasised that Vietnam has a clear strategy and ambition in this field, and is rapidly emerging as a central hub and key link in the regional and global semiconductor value chains.
According to Cushman & Wakefield’s latest Asia-Pacific Data Centre Investment Landscape report, Vietnam now ranks second in the region for data centre investment returns, with a yield on cost (YoC) of 17.5–18.8%, just behind Singapore’s 21–23%.
Vietnam is taking drastic yet cautious steps in building a culture of nuclear safety and security, with the aim of having its first nuclear power plant operational by the end of 2030 and using this specific energy source effectively and sustainably.
Vietnam’s 5G strategy has been clearly outlined in national digital technology and infrastructure policies. A wide range of solutions is being vigorously implemented to achieve the target of an average internet speed of 100 Mbps by 2025 and full nationwide 5G coverage by 2030.
The visit aimed to assess the new two-tier local government model, preparations for upcoming Party congresses at levels, and implementation of the Politburo’s Conclusion on school construction in border areas.
Under the theme “Breakthrough Era with the Development of Industrial Internet”, the event gathered over 400 delegates, including senior officials, leading Internet experts, and technology engineers from Vietnam and abroad.
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)
