Technology market development - Driving force to improve national competitiveness

The science and technology (S&T) market is becoming an important component of the economy, playing a connecting role between research and production and business. However, the transfer and commercialization of research results in Vietnam is still not commensurate with its potential due to institutional barriers, intermediary infrastructure and technology absorption capacity of enterprises. Perfecting policies, enhancing technology data and developing intermediary systems are becoming urgent requirements for the technology market to truly become a driving force to enhance national competitiveness.

Technology market - essential component of modern economy

The science and technology market is increasingly recognized as an important component of the economy, capable of directly impacting the productivity, quality and competitiveness of enterprises. Not only is it a place for trading technology goods and intellectual property, this market also plays a role in stimulating supply, creating demand and promoting the flow of knowledge between the research sector and the production and business sector.

The special feature of technology goods is that they are intellectual in nature, much more difficult to price and evaluate than tangible goods. Therefore, technology transactions always require the participation of intermediary organizations with the capacity to advise, appraise and "decode" technology. This is the missing and weak link in the current S&T ecosystem, causing the market to operate less effectively than expected.

Research activities create a source of high-quality technology for the Vietnamese technology market.

Another barrier is the limited capacity of enterprises to access new technologies, especially in terms of information, appraisal and financial resources. Advanced, high-tech and green technologies often have high transfer value, while domestic enterprises do not have many financial support mechanisms to access them.

In recent times, many mechanisms and policies related to the development of the technology market have been issued. However, this system still lacks connectivity and synchronization. Some regulations, although already in the law, lack specific guidance for implementation in practice.

A notable fact is that the capacity of research teams in market access, understanding of intellectual property and commercialization processes is still limited. This causes many research results to stop in the laboratory instead of going to the market.

In parallel, the system of intermediary organizations including brokerage centers, consulting centers, and technology transfer promotion centers is still weak and unprofessional. Many technology transactions do not take place or take place with high risks due to the lack of support units to evaluate, connect, and protect interests.

Need for breakthrough policies and comprehensive technology data

In order for the technology market to become a growth driver, the current requirement is to perfect policies to support businesses in accessing information, technology and financial resources.

Firstly, there needs to be a more preferential credit mechanism for businesses investing in high technology and green technology. Many countries have implemented a tiered interest rate policy depending on the level of technology, thereby encouraging businesses to boldly invest in innovation. Vietnam currently lacks similar tools, making it difficult for many businesses to access valuable technologies.

Modern laboratory equipment helps shorten the technology commercialization process, increasing business competitiveness.

Second, it is necessary to continue to improve the legal system related to the commercialization of research results, especially the regulations on valuation, capital contribution with intellectual property, and division of intellectual property value arising in the process of research and development cooperation. The clarity of the legal framework will create more motivation for research institutes and universities to form technology-based enterprises.

Third, it is necessary to focus on training scientific staff in technology transfer skills, intellectual property, and technology business; at the same time, developing a team of professional brokers and intermediaries capable of effectively connecting supply and demand.

One issue that many experts have emphasized is that Vietnam does not have a complete data system on the technological capacity of enterprises. This makes policy making lack a practical basis, especially in the context of the diverse technology that FDI enterprises bring into Vietnam but is not clearly controlled.

International experience shows that requiring enterprises to declare the level of investment, ownership and application of technology associated with tax incentive policies is a feasible solution to build a standardized database. With reliable data, management agencies can orient appropriate policies and promote innovative research activities based on real market needs.

Center for Science and Technology Communication

Source: https://mst.gov.vn/phat-trien-thi-truong-cong-nghe-dong-luc-nang-cao-nang-luc-canh-tranh-quoc-gia-197251121141743657.htm