'The Four Pillars' for Vietnam to Take Off: Promoting Innovative Businesses

Production of export goods. (Illustration photo: The Duyet/VNA)

According to Resolution No. 57-NQ/TW dated December 22, 2024 of the Politburo , breakthroughs in science, technology, innovation and national digital transformation are decisive factors in the development of nations; are the prerequisites and the best opportunities for our country to develop richly and powerfully in the new era - the era of national development.

Resolution No. 57-NQ/TW defines the Politburo's guiding viewpoint: developing science , technology, innovation and national digital transformation is a profound and comprehensive revolution that must be implemented resolutely, persistently, synchronously, consistently and long-term with breakthrough solutions.

People and businesses are the center, the main subject, resource, and driving force. Scientists are the key factor. The State plays a leading, promoting, and facilitating role in the development of science, technology, innovation, and national digital transformation.

Thus, both Resolution No. 57-NQ/TW and Resolution No. 68-NQ/TW (dated May 4, 2025) on private economic development of the Politburo demonstrate bold and breakthrough thinking.

If Resolution No. 68-NQ/TW considers the private economy as the most important driving force of the national economy, Resolution No. 57-NQ/TW affirms that enterprises are the center of innovation.

The Politburo assessed that the speed and breakthrough in the development of science, technology, innovation and national digital transformation are still slow; the scale, potential, level of national science, technology and innovation are still far behind that of developed countries; research, application of science, technology and innovation have not made any breakthroughs, and have not mastered strategic and core technologies.

Therefore, for Vietnam to develop strongly in the new era, safe and stable policies are not enough. We need to have strategic and revolutionary decisions to create breakthroughs in science and technology development. That is to shift the focus of innovation to the shoulders of enterprises, not to rely on and wait for the State.

Not only the guiding viewpoint but also the specific objectives in Resolution No. 57-NQ/TW are breakthroughs. By 2030, the potential, level of science, technology and innovation will reach advanced levels in many important fields, among the leading groups in upper-middle-income countries; the level, capacity of technology and innovation of enterprises will reach levels above the world average; a number of fields of science and technology will reach international levels.

Experience the Anbi robot at the Digital Age Innovation Festival. (Photo: Dong Thuy/VNA)

Vietnam will be in the top 3 countries in Southeast Asia, the top 50 countries in the world in digital competitiveness and e-Government development index; the top 3 countries in Southeast Asia in research and development of artificial intelligence, the center for developing a number of digital technology industries and fields in which Vietnam has advantages.

The contribution of total factor productivity (TFP) to Vietnam's economic growth will be over 55%; the export of high-tech products to the total value of exported goods will reach at least 50%. The scale of the digital economy will reach at least 30% of the gross domestic product (GDP). The use of online public services by people and businesses will reach over 80%, non-cash transactions will reach 80%. The number of enterprises with innovative activities will reach over 40%...

A new, bold solution to encourage businesses to focus on innovation is to introduce an open approach, apply creativity, allow for piloting of new practical problems; accept risks, venture capital and delays in scientific research and technology development.

Vietnam will have a pilot mechanism for enterprises to test new technologies under State supervision; have a policy of exemption from liability for enterprises, organizations and individuals in the case of testing new technologies and new business models that cause economic losses due to objective reasons. Form venture capital funds for creative startups, technology incubation and digital transformation.

Macro mechanisms must be accompanied by specific policies. These are very practical incentives and encouragement for businesses, especially small and medium enterprises, to invest in digital transformation, research, application of science, and technological innovation to improve production and business efficiency, corporate governance; promote knowledge transfer, training of human resources in science, technology, and innovation through enterprises with foreign direct investment (FDI); and support domestic technology enterprises to invest abroad.

Vietnam will have strong enough policies to encourage entrepreneurship in science, technology, innovation and digital transformation. There will be mechanisms and policies to support the formation and development of a number of large-scale domestic strategic digital technology enterprises to develop digital infrastructure, lead national digital transformation and have sufficient international competitiveness.

In addition to incentive policies on human resources, finance and non-finance, building habits and awareness of innovation for businesses is also considered by experts as a solution that needs attention.

The Government needs to develop and implement programs and campaigns to increase awareness, habits, and raise awareness of the importance of innovation among people and businesses. For example, the Government should develop a comprehensive and sustainable set of assessment criteria to encourage businesses to innovate, and create a mechanism to replicate and share successful models and experiences in innovation.

For their part, businesses need to overcome the fear of change in their organizational culture, create internal motivation, encourage creativity and build a flexible environment to adapt to market fluctuations, not be afraid to experiment, be willing to accept risks, and learn from failures.

Science, technology and innovation are expected to contribute 4-5% to Vietnam's annual GDP growth (the target is 8-10%), of which the contribution from innovation accounts for 3%, while the science and technology sector accounts for only 1%. This demonstrates the important role of innovation in the modern economy, thereby indirectly affirming the position of enterprises in increasing the country's GDP.

Managing and operating the power grid using information technology at the Ho Chi Minh City Power System Control Center. (Photo: Thanh Vu/VNA)

In the spirit of Resolution No. 57-NQ/TW, the Draft Law on Science, Technology and Innovation (under construction) for the first time has a separate chapter dedicated to policies to promote research, development and innovation activities in enterprises.

Enterprises in Vietnam are empowered and strongly encouraged to invest in research and development, not only with their own resources but also with support from the state budget through financial "bait" policies, according to the principle that "the State spends 1 dong to attract 3-4 dong from enterprises." This is the reason why Resolution No. 57-NQ/TW is considered "contract 10 in science and technology."

Along with creating many advantages, the globalization process also poses great challenges for Vietnamese enterprises because they have to compete with foreign enterprises. Currently, innovation is considered an extremely important driving force to promote the development of domestic enterprises.

The 2013 Law on Science and Technology of Vietnam affirms: Innovation is the creation and application of achievements, technical solutions, technology, and management solutions to improve the efficiency of socio-economic development, improve productivity, quality, and added value of products and goods.

Innovation is not only one of the important indicators of enterprises but also a measure of economic performance, a decisive factor for the progress of each country./.

According to Vietnam+ (Vietnam News Agency)

Source: https://baoapbac.vn/kinh-te/202505/bo-tu-tru-cot-de-viet-nam-cat-canh-thuc-day-doanh-nghiep-doi-moi-sang-tao-1043662/