From Israel's Inspiring Story to Hope for a 'Vietnam Tech Miracle'

Israel has a lot of technology, knowledge and scientific research. Meanwhile, Vietnam has great potential in knowing how to produce and do things that Israel cannot, such as expanding the scale of production.

Israel is the cradle of technology startups. (Source: besacenter.org)

Secrets to Success

Israel is a small country in terms of land area and limited resources, but it has risen to become one of the world's leading "technological powerhouses".

During a meeting with Israeli Minister of Labor and Welfare Rabbi Yoav Ben Tzur last May, Prime Minister Pham Minh Chinh assessed that science and technology and labor are two important areas where the two countries can complement each other; he proposed that Israel cooperate with and support Vietnam in science and technology, innovation, digital transformation, and entrepreneurship, while Vietnam would support and supplement Israel in terms of human resources.

Israel lacks a large domestic market due to its small population and limited diplomatic relations with many neighboring countries. Therefore, Israeli startups are forced to target the global market from their inception.

According to many experts, an early international mindset is the core factor that helps Israeli startups develop technologies with global applications, while also flexibly adjusting their market approach strategies to suit international needs. Expanding into international markets is not only an opportunity but also a requirement for innovative products to achieve optimal scale and effectiveness.

Furthermore, a key factor in Israel's success is the close ties between startups and multinational technology corporations.

Giants like Nvidia, Google, Microsoft, Intel, Apple, Amazon, Meta, IBM, Cisco, Oracle… all have a presence in Israel with large-scale research and development (R&D) centers. These corporations need the creativity and flexibility of startups to maintain their technological leadership, while startups need access to markets, technical collaboration, and a testing environment that only global businesses can provide.

This symbiotic relationship is a prominent feature of Israel's innovation ecosystem, something other countries could consider developing further in the future, particularly through policies that attract FDI into high-tech sectors.

It can be said that Israel's success stems not only from the entrepreneurial spirit of individuals, but also from a carefully planned national strategy dating back to the late 1970s.

The Israeli government currently invests more than 6% of its annual gross domestic product (GDP) in R&D – the highest rate in the world – and continuously implements programs to support startups, such as the "Yozma" initiative of the Chief Scientist's Office at the Israeli Ministry of Economy.

This program provides seed funding to mitigate risks for early-stage technology startups, while also attracting international venture capital.

This unique public-private partnership model has become the foundation for the robust development of Israel's innovation ecosystem, creating an ideal environment for startups to flourish and quickly expand globally.

Israeli technology experts are collaborating with Vietnamese corporations to develop technology applications in agriculture. (Source: baogialai.com.vn)

Belief in a Vietnam that reaches further

Despite differing development conditions, the lessons from Israel highlight the importance of a consistent, in-depth national strategy supported by specific policies and a favorable institutional environment. Effective collaboration between the public and private sectors, increased investment in R&D, and fostering partnerships with global technology corporations to create a sustainable innovation ecosystem are the "secrets" to Israel's current success.

Speaking to the press, former Israeli Prime Minister Ehud Barak said that Vietnam has even faster progress in the high-tech sector. He praised the way the Vietnamese government facilitates the development of small businesses, thereby fostering a strong entrepreneurial spirit among the people.

The former Israeli leader emphasized: "The cooperative relationship between Israel and Vietnam is driven by mutual admiration and belief in future potential... I believe that, especially in the field of innovation, bilateral cooperation has much room for development – ​​provided there are more supportive policies and facilitation from the government to support young entrepreneurs."

Mr. Eyal Buvilski, President of the Israel-Vietnam Friendship Association and former Deputy Ambassador of Israel to Vietnam, stated that Israel possesses a wealth of technology, knowledge, and scientific research. Meanwhile, Vietnam has enormous potential in its ability to manufacture and accomplish things that Israel cannot, such as scaling up production.

According to Mr. Buvilski, cooperation between Israeli research institutions, the government, private businesses, and Vietnamese partners is crucial. He believes that Vietnam has not yet fully exploited its economic potential. There are still many places where Vietnam can export its products.

"I think that if we combine knowledge from Israel with the capabilities, vision, and capacity of the Vietnamese economic region, we can go much further," Mr. Buvilski affirmed.

Former Israeli Justice Minister Yossi Beilin assessed that after years of technological development and modernization, Vietnam has achieved many accomplishments, even surpassing countries that were once ahead in technology in some areas.

Part of the reason is that Vietnamese people are good, hardworking, and not lazy. Another factor is that Vietnam is a latecomer, so it has the advantage of being a latecomer in the field of technology, not to mention AI and many other fields that are being strongly applied in Vietnam — things that no one would have thought possible 50 years ago.

According to Mr. Beilin, Israel's dramatic technological transformation is clear evidence of the central role of the state in creating an environment for innovation. Vietnam has all the necessary foundations to embark on a similar journey, if it knows how to leverage domestic intelligence, learn from suitable models, and create mechanisms to stimulate businesses and research institutions to innovate together.

A "Vietnamese technological miracle" is entirely possible – if supported by well-structured, long-term, and decisive policies starting today.

Source: https://baoquocte.vn/tu-cau-chuyen-truyen-cam-hung-cua-israel-den-hy-vong-ve-phep-mau-cong-nghe-viet-nam-327089.html