The PM said that the Party and state pay special attention to science, technology, and innovation, considering them among top national policies for rapid and sustainable development, contributing to the industrialisation and modernisation of the country.

To date, there are about 4,000 innovative startups, 208 investment funds, 84 incubators, 35 business promotion organisations, and 20 innovative startup centres. Vietnam's innovative startup ecosystem is currently ranked 56^th out of 100 countries, while Hanoi and Ho Chi Minh City are in the top 200 innovative startup cities globally.

According to the World Intellectual Property Organization, Vietnam's 2024 Global Innovation Index ranks 44^th among 133 countries (up two places compared to 2023, up four places compared to 2022), it has climbed from 86^th to 71^st among 193 countries and territories on the United Nations' 2024 E-Government Development Index.

The PM stated, "Innovation is an inevitable and irreversible objective trend, and is the common development orientation of the world today. For Vietnam, this is a particularly important factor contributing to promoting digital transformation, green transformation, and sustainable development."

Amid great opportunities, there remain challenges. The PM pointed out the biggest challenge is technological competitiveness compared to other countries. Vietnamese enterprises have not been able to fully master advanced technologies, especially in key fields such as semiconductors, AI, and cloud computing.

The PM stated that innovation must be a strategic choice, an objective requirement, a key task, and a top priority to promote industrialisation, modernisation, and rapid, sustainable development.

Second, individuals and enterprises should be at the centre, the subject, the goal, the driving force, and the main resource of innovation, especially the younger generations, the future owners of the country, the PM emphasised.

Third, innovation means daring to think, to do, to act, to accept risks, and to commit for the benefit of the nation, the people, for a brighter future. "Innovation is relentless, and limitless. Vietnam must catch up, go together, and surpass the process of innovation over the world," the PM stated.

He also raised six common tasks to encourage enterprises to invest in science, technology, and innovation; increasing investment in developing the infrastructure system (especially for transportation, energy, digital infrastructure, telecommunications infrastructure, data infrastructure, education and training infrastructure); developing high-quality human resources; accelerating attraction of financial investment sources; improving the efficiency of national governance; strongly promoting international cooperation in transferring and applying modern technology, and research.

"Generally, the institution must be open, the infrastructure must be strong, governance must be smart, and international cooperation must be close and effective," PM Chinh said.

For specific tasks and solutions, the PM stated that the government will direct the review and completion of strategies, mechanisms, policies and solutions to strongly promote innovation and startups based on creating better conditions and protecting the legitimate and legal rights and interests of the business community, investors, and people.

The government will direct ministries, agencies, and localities to remove difficulties, and the PM called on businesses, investors, and individuals to actively participate in innovation and startups, enabling Vietnam to catch up with other countries.

The PM also requested scientists and young people to create more effective products, and for universities and research institutes to create the right conditions in terms of facilities, equipment, laboratories, and remuneration for scientists and young people.

The PM asked partners and developed countries to cooperate and support Vietnam in building and perfecting institutions, financial incentives, technology transfer, human resource training, improving management capacity, and organising implementation of innovation.

The PM announced that October 1 would be the Vietnam Innovation Day to encourage and promote innovation.

Source: Vietnam Investment Review