Prime Minister: Industrial development must rely on distinct potential

Policy dialogue session on the afternoon of September 25 - Photo: QUANG DINH

Prime Minister Pham Minh Chinh sent a message and development orientation for Vietnam in general and Ho Chi Minh City in particular at the Policy Dialogue Session on the afternoon of September 25. This is an activity within the framework of the Ho Chi Minh City Economic Forum 2024.

Identify the nation's strengths for transformation.

Professor Keun Lee, PhD in economics from the University of Canada and former vice chairman of the National Advisory Council of South Korea, has offered suggestions to help Ho Chi Minh City learn from the experiences of pioneering regions such as Taipei (Taiwan) and Shenzhen (China), especially in the context of the city's efforts to boost technological development and promote the growth of domestic businesses.

According to this expert, the development models of Taipei and Shenzhen could be a useful lesson in promoting the development of local businesses. Unlike the development model of Penang (Malaysia), which relies on multinational corporations (MNCs), Taipei and Shenzhen have successfully built strong local businesses, enabling them to quickly catch up with developed countries.

Accordingly, the two cities of Taipei and Shenzhen have implemented more vigorous public intervention policies than Penang to promote the development of local enterprises. This includes providing quality human resources through professional and skills training programs.

To promote technological innovation and domestic technology ownership, experts recommend that Vietnam needs a transition strategy after the initial phase of learning from foreign knowledge sources. This is a crucial step to help Vietnam quickly catch up with technologically advanced countries.

Professor Keun Lee, PhD in Economics from the University of Canada, shared his insights on escaping the middle-income trap and lessons for Ho Chi Minh City. - Photo: QUANG DINH

Experts also suggested that Vietnam needs to make efforts to promote technology transfer from foreign businesses to domestic businesses.

Also emphasizing the role of technology, Mr. Trinh Huong Dong, Deputy Mayor of Chongqing City (China), stressed the need to promote the establishment of new land-sea corridor transit centers in Hanoi and Ho Chi Minh City, and to expand the scale of importing high-quality Vietnamese agricultural products such as fruits, seafood, and rice.

"It is necessary to study bringing Vietnamese specialties such as coffee, durian, and cashew nuts to online and offline platforms, forming a distribution hub for goods from Chongqing to inland areas of China," said Mr. Trinh Huong Dong.

Experts believe that if Vietnam applies these strategies effectively, the transition to a high-tech economy will be accelerated, helping the country catch up and surpass advanced countries in the region.

Vietnam is pursuing digital transformation and green transformation simultaneously.

Mr. Nguyen Quoc Phuong, Deputy Minister of Planning and Investment , said that the five-year and annual plans have outlined specific steps in restructuring the economy.

The Prime Minister believes that the circular economy is becoming a trend - Photo: QUANG DINH

Going deeper into promoting transformation with the industry, there is an emphasis on two transformation processes (dual transformation), which are digital transformation and green transformation going hand in hand. Currently, to successfully implement it, promoting innovation is an urgent requirement.

Mr. Le Xuan Dinh, Deputy Minister of Science and Technology, also said that the draft Law on Science, Technology and Innovation is being drafted and revised. Regarding the draft law, there are fundamental changes in the subjects of regulation.

Previously, the budget was used for public units to conduct research projects. This draft law will use socialized resources for scientific and technological activities. It will create conditions for businesses to absorb technology and increase innovation.

In response to the representatives from ministries and agencies, Prime Minister Pham Minh Chinh affirmed: "The world has been implementing a circular economy for a long time, and Vietnam has also been doing so, but in the context of resource depletion, environmental pollution, and population growth, this issue has only received adequate attention, with the goal of making the circular economy a trend and a movement."

Vietnam in general and the Government in particular are focusing on two contents: Raising awareness and building mechanisms and policies to mobilize resources from the people, all people participate in implementing the circular economy. This is an important and decisive factor."

Source: https://tuoitre.vn/thu-tuong-phat-trien-cong-nghiep-phai-dua-vao-tiem-nang-khac-biet-20240925163315367.htm