Innovation - The main driving force for national development

Innovation is the main driving force helping Vietnam establish a new growth model, improve productivity, efficiency, quality, added value and competitiveness of the economy.

This is an important content in the Draft Document of the 14th National Party Congress with the goal of turning the country into an upper-middle-income country by 2030 and further into a developed country.

Many experts and businesses highly appreciate this content and have additional suggestions and comments to effectively realize this content in practice.

According to the document, " Science , technology and innovation are the main driving forces, establishing a new growth model for the country by 2045". Experts highly appreciate this spirit in the document, considering it the core driving force and inevitable direction for Vietnam to make a breakthrough.

Mr. Nguyen Ai Viet (National Advisory Council on Science, Technology, Innovation and Digital Transformation) commented: "Innovation is the main driving force because only with science, technology and innovation can we achieve double-digit growth and overcome the middle-income trap, so I think this is a very bright point in the draft document."

With the establishment of a new growth model based on science, technology and innovation, Vietnam's economy is expected to develop rapidly and sustainably. (Illustration photo - Photo: Investment Newspaper)

Appreciating the contents such as improving the index, developing the national innovation system, building a key innovation university, experts said that the draft needs to add content on the investment rate for research and development (R&D) - the core factor to promote innovation. Because this rate is still low", specifically below 40% at the Vietnam Academy of Science and Technology. In many places, this rate is only about 15%. Most of the budget is focused on infrastructure and machinery.

"The document needs to add the investment rate for R&D in science and technology. State R&D investment should account for 20-30%, and enterprises 70-80% to create a good driving force for innovation," said Prof. Chu Hoang Ha (Vice President of the Vietnam Academy of Science and Technology).

Comments also suggested that the draft document should include content on a comprehensive culture of innovation, aiming to build a creative nation, creative businesses and creative people. To date, only about 4 large technology corporations have focused on investing in building a culture and creative business model, with the investment ratio accounting for about 30-40% of the revenue structure.

"The document needs to supplement building a creative nation, including policies, strategies, programs, and measurement and evaluation of goals. Only then can we achieve the goals the Party desires. This is an important driving force to build a new growth model," said Mr. Nguyen Trung Chinh (Chairman of CMC Technology Group).

By establishing a new growth model based on science, technology and innovation, Vietnam's economy is expected to develop rapidly and sustainably, with GDP in 2045 reaching about 2,500 billion USD, 3 times higher than present, improving the country's competitiveness and position.

Source: https://vtv.vn/doi-moi-sang-tao-dong-luc-chinh-phat-trien-dat-nuoc-10025111320535871.htm