Vietnam is qualified to attract capital for innovation.

With outstanding policies and good human resources, Vietnam is considered qualified to attract investment capital in the field of innovation.

Advantages in policy and human resources

According to Mr. Vu Quoc Huy, Director of the National Innovation Center - NIC ( Ministry of Finance ), Vietnam has many favorable conditions to attract capital for innovation and creative startups.

Vietnam is gradually perfecting its legal system for innovation.

The reason given by Mr. Vu Quoc Huy is that, firstly, Vietnam has a stable political system. Leaders at all levels from the National Assembly, the Government, to ministries, branches, and localities are very supportive and thoroughly implement the policy of implementing and comprehensively promoting the innovation and startup ecosystem in Vietnam.

Second, Vietnam is gradually perfecting the legal system for innovation, from Decree 94/2020/ND-CP of the Government regulating mechanisms and preferential policies for NICs and Decree 97/2025/ND-CP recently issued by the Government regulating mechanisms and preferential policies for NICs, to the construction of the Law on Science and Technology being considered by the National Assembly.

In particular, the contents related to innovation in the Law on Science and Technology are a big step forward in legalizing policy mechanisms related to innovation in a more scientific and streamlined direction, creating conditions for investment activities in innovation.

In addition, Vietnam has a good human resource team, with great potential for all fields of innovation. Vietnam has a young human resource, a population of 100 million people, in the golden age of population, Vietnamese people are also talented in the field of steam and knowledgeable in this field, this is a great resource that creates a competitive advantage compared to other countries in attracting and using innovation talents.

To promote innovation, in May 2025, the Government issued Decree 97/2025/ND-CP stipulating preferential mechanisms and policies for NICs. The Decree stipulates a number of preferential mechanisms and policies for NICs and organizations and individuals operating at NICs as well as related organizations and individuals.

Regarding the incentive principle, Decree 97/2025/ND-CP stipulates that the State encourages and has incentive and support mechanisms and policies to create a favorable research and development and business investment environment at NIC, in order to attract domestic and foreign talents and experts, domestic and foreign technology corporations and enterprises from countries with developed technology levels to implement ideas based on exploiting intellectual property, technology, new business models and having the ability to grow rapidly.

The Decree also clearly states that NIC is entitled to preferential mechanisms, policies and favorable administrative procedures according to the provisions of law to support and develop the innovation and startup ecosystem, contributing to renewing the growth model on the basis of developing science, technology and innovation...

With the above policies, Mr. Vu Quoc Huy said that Decree 97 has created a clear legal framework for NIC to perform services related to building and developing the innovation ecosystem in Vietnam, supporting innovative startups and developing human resources for innovation.

Vietnam has many mechanisms to facilitate innovative startups. Illustrative photo

Continue to promote innovation ecosystem

In fact, in recent times, to promote innovation activities in Vietnam, NIC has coordinated with many domestic and foreign partners to implement various programs. For example, coordinating with Google in the digital platform development program, coordinating with Samsung in training in high-tech fields.

Along with that, NIC is the focal point for developing high-quality human resources for innovation, especially building operational programs and coordinating the semiconductor human resource development program under the direction of the Prime Minister in the period of 2030, with a vision to 2050. In order to achieve as soon as possible the goal of having 50,000 engineers for the semiconductor industry in Vietnam by 2030.

Developing a system of creative startup centers at universities, including innovation centers, startup centers, and startup support at many universities. The goal of the system is to build a network to promote innovation and startups right in university lecture halls, creating a foundation for students at universities to have startup skills in new technology, innovation, etc. These are activities related to developing human resources for innovation.

Mr. Vu Quoc Huy added that in the future, NIC will continue to promote the development of Vietnam's innovation ecosystem by improving the quality, quantity and role of the ecosystem in promoting strategic industries.

Along with that, major events will be held such as the Vietnam International Innovation Expo (VIIE), investment forums. Especially the Vietnam Innovation Day, expected to last 3-5 days in October every year under the direction of the Prime Minister.

Mr. Vu Quoc Huy - Director of the National Innovation Center: Decree 97/2025/ND-CP opens up a legal basis for NIC to mobilize domestic and international resources, mainly from the private sector, to carry out innovation support activities. This realizes the policy of considering the private economic sector as an important driving force of the economy.

Nguyen Hoa

Source: https://congthuong.vn/viet-nam-du-dieu-kien-hut-von-vao-doi-moi-sang-tao-390090.html