Connecting policy and business: Taking innovative startups into depth

(Chinhph.vn) - On the afternoon of August 15, in Hanoi, with the participation of nearly 200 entrepreneurs and leaders, the "Startup - Innovation" Dialogue Session within the framework of the Vietnam Private Economic Forum (VPSF) 2025 focused on discussing solutions to remove obstacles, promote science and technology and innovation.

Dialogue session "Startup - Innovation" within the framework of Vietnam Private Economic Forum 2025 - Photo: VGP/HT

Legal corridor from strategic resolutions

Ms. Pham Thi Bich Hue, Vice President of Vietnam Young Entrepreneurs Association, Head of VPSF 2025 Organizing Committee, Chairwoman of the Board of Directors of Western Pacific Joint Stock Company, said: "With this dialogue session, the VPSF 2025 Local Dialogue Round has completed half of its journey. Since the beginning of the series of events, the Organizing Committee has recorded thousands of comments and contributions, reflecting the practical operations of enterprises, which are an important source of data to recommend the Government to perfect mechanisms and policies for private economic development".

Ms. Pham Thi Bich Hue, Vice President of Vietnam Young Entrepreneurs Association, Head of VPSF 2025 Organizing Committee, Chairwoman of the Board of Directors of Western Pacific Joint Stock Company - Photo: VGP/HT

The leaders of the Vietnam Young Entrepreneurs Association believe that Resolution No. 57-NQ/TW of the Politburo on breakthroughs in science, technology, innovation and national digital transformation, along with Resolution No. 68-NQ/TW on private economic development, are considered "compasses" for the young entrepreneur community. In the coming time, the National Project on Innovative Startups will concretize these orientations, creating a legal corridor, financial mechanisms and a cooperative environment to bring ideas from the laboratory to the market, towards the goal of Vietnam becoming an innovative nation by 2045.

The presentations at the dialogue session analyzed the key "trio": Science and Technology - Innovation - Digital Transformation (STID), considering this as the driving force to help Vietnam escape the middle-income trap, while clarifying the relationship between digital transformation and the competitive advantage of the private economy.

Many key issues were discussed such as: access to capital and venture capital funds, tax incentives for R&D, sandbox mechanism for new technology, connecting institutes - schools - businesses, intellectual property protection and solutions to support businesses in remote areas to participate in digital transformation.

Removing implementation barriers

Mr. Nguyen Xuan Luc - Chairman of the Board of Directors of WATA Technology Joint Stock Company - shared the reality of technology startups today, which is the need for digital transformation is increasing rapidly but there is a lack of high-quality human resources and capital for R&D; fierce competition from foreign enterprises; but opportunities are still open thanks to support policies from Resolutions 57 and 68. Mr. Luc proposed that the State shorten the procedures for recognizing science and technology enterprises, design practical training programs and create conditions for testing new technologies.

Ms. Bui Thu Thuy, Deputy Director of the Department of Private Enterprise Development and Collective Economy (Ministry of Finance) - Photo: VGP/HT

At the dialogue session, some businesses raised difficulties in accessing production land, especially for small and medium enterprises.

Responding to concerns from the business community, Ms. Bui Thu Thuy, Deputy Director of the Department of Private Enterprise Development and Collective Economy (Ministry of Finance), said that the Government has clearly identified the concerns of businesses. Therefore, right from the time of drafting Resolution 68, the Government leaders requested attention to the issue of reserving and dividing land funds for small and medium enterprises (SMEs) and innovative startups, because they cannot access large planned land lots. This spirit is also clearly guided in Resolution 198.

Ms. Thuy analyzed that for industrial parks that have been filled, it is not possible to request land allocation. However, for areas under construction or with vacant land, reserving a part of the area for SMEs is mandatory. The Steering Committee regularly meets monthly with the Deputy Prime Minister and quarterly with the Prime Minister to continuously report on the implementation of land funds in the locality.

Notably, Ms. Bui Thu Thuy said that a new Decree is being developed to guide the implementation of Resolution 198. Accordingly, the Ministry of Finance, in coordination with the Ministry of Natural Resources and Environment, is drafting a policy to support 30% of land rent for SMEs and innovative startups when entering these planning areas. The support capital will be taken from the local budget.

"It is expected that this decree will be submitted to the Government in August. This solution is expected to significantly remove bottlenecks in production space for businesses in the coming time," Ms. Bui Thu Thuy affirmed.

Mr. Hoang Binh Quan, former member of the Party Central Committee and Honorary President of the Vietnam Young Entrepreneurs Association, emphasized that the Forum is a bridge between policy and business, not only recording recommendations but also aiming at connecting cooperation. Mr. Quan gave examples of international support models such as "incubators" in China that Vietnam can study such as providing premises, seed capital and procedural support for young businesses.

"There is a difference between normal startups and innovative startups, in which the key factors are new ideas, new management and production models, and the ability to accept risks. Therefore, connecting policies with businesses and bringing innovative startups into depth is very necessary and important," said Mr. Hoang Binh Quan.

Mr. Minh

Source: https://baochinhphu.vn/ket-noi-chinh-sach-va-doanh-nghiep-dua-khoi-nghiep-sang-tao-vao-chieu-sau-102250815193120047.htm