At the high-level dialogue session of the Vietnam Private Economic Forum 2025 held on September 16, Ms. Truong Ly Hoang Phi - Vice President of Ho Chi Minh City Young Entrepreneurs Association, CEO of IBP and founder of InnoEx Forum - shared profound experiences from 15 years of accompanying tens of thousands of businesses in the field of innovation.
Ms. Phi affirmed that in the era of data and technology, innovation is no longer a choice but has become a vital condition for businesses to improve productivity and build competitive advantages. Although Vietnam has made proud progress on the Global Innovation Index (GII), there are still many challenges.
"Vietnam ranks 36th in output but is still lagging behind at 53rd in input, from institutions, human resources to infrastructure. That shows that the creative potential of Vietnamese people is very strong if we resolutely clear the above-mentioned systemic bottlenecks," Ms. Phi stated.
From this observation, the female CEO proposed three core pillars to promote innovation in the private economic sector.
Regarding the financial pillar, promoting public-private investment funds and green finance models is necessary. To solve the problem of capital for innovation, Ms. Phi proposed two key solutions.
Firstly, promote investment funds under the public-private partnership (PPP) model, in which the State contributes 30-40% of capital along with the private sector to focus on key industries such as DeepTech, GreenTech, digital agriculture and AI. These are areas where businesses really need "sponsorship" from the Government.
Second, pilot research on the "green IPO" model and convertible bonds according to ESG (Environment - Social - Governance) standards. This mechanism will help mobilize long-term capital, minimize risks, and encourage businesses to boldly invest in innovation in a transparent and sustainable manner.
Besides finance, the human factor is considered key. Ms. Phi proposed implementing a national "Innovation Mastery" program to train 1,000 private business leaders with the capacity to lead domestic innovation and effectively connect with global innovation centers.
"This initiative aims to form a generation of leaders who are both innovative and have an international integration mindset, ready to take Vietnam to a new level of competitiveness," said the IBP CEO.
In parallel, there is a national digital skills dissemination program, with the State funding 50% of the cost of learning AI, data, and automation skills. In return, businesses pay the remaining 50% and commit to recruiting a portion of the trainees after training, ensuring output for high-quality human resources.
At the ecosystem pillar, it is necessary to build an open innovation environment. For initiatives to spread, building a supportive ecosystem is extremely necessary.
The Vice President of the Ho Chi Minh City Young Entrepreneurs Association proposed promoting the establishment of private innovation centers under the public-private partnership (PPP) model. Simplifying procedures and forming separate management boards for controlled testing programs (sandboxes) in areas such as FinTech and GreenTech to create a safe space for breakthrough ideas. At the same time, building a National Data Alliance and common patent repositories to create a resource-sharing infrastructure, helping large and small businesses participate, resonate strength and spread the spirit of innovation in many fields.
Source: https://doanhnghiepvn.vn/cong-nghe/ceo-ibp-de-xuat-3-tru-cot-khoi-thong-diem-nghen-doi-moi-sang-tao/20250917105842284
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