Yet to achieve meaningful breakthroughs
The rapid development of science and technology in recent years has created demands for higher corporate quality and value. The application of science and technology in production enables enterprises to increase automation, optimise processes and reduce operating costs. At the same time, technology contributes to improving product quality, enhancing market competitiveness and opening up new business models. In the context of deeper economic integration, many enterprises are also applying technological solutions to reduce emissions and comply with international environmental standards.
Nevertheless, in practice, many enterprises operating in the science and technology sector continue to face difficulties in effectively exploiting new technologies.
Nguyen Quang Kien, Director of Thuan Thanh Technology Solutions Company, said that many enterprises have not genuinely embarked on the process of innovation and the application of science and technology because they have yet to identify their core needs before investing in technology. As a result, many companies remain hesitant to invest or make misguided technology investments that fail to deliver results and may even lead to failure.
Dang Tan Duc, Director of the R&D Institute under Becamex Group, said Vietnamese science and technology enterprises need to accelerate the transition from simple assembly operations to higher value-added sectors based on the application of science, technology and innovation. However, the establishment of innovation and start-up support centres should not be concentrated solely in major urban areas but instead distributed across localities in line with their respective strengths and those of local enterprises.
Conversely, the allocation of budgets and investment strategies for science, technology and innovation should be organised along integrated chains to ensure flexibility and continuity. On that basis, Duc proposed a public-private partnership model for scientific research activities. Under this model, implementation would follow State mechanisms and policies while mobilising the resources and advantages of enterprises to optimise operational quality, efficiency and commercial mechanisms already possessed by businesses.
Seizing the “golden” opportunity for development
Current State policies regard enterprises as the centre of innovation activities through measures such as tax incentives, interest rate support and financial assistance for enterprises investing in scientific research, technology development, technology application, technology transfer, technological innovation and innovation activities.
Science and technology enterprises are also provided with financial support vouchers to promote innovation and commercialise products by facilitating market access and encouraging users to experience new products and services.
In addition, management agencies are studying the establishment of a specialised stock trading market for innovative start-ups, as well as national and local venture capital funds to invest in and support the innovative start-up ecosystem.
Although a relatively open and favourable legal framework and operational mechanism have initially been established, science and technology enterprises in reality still face numerous barriers and limitations that need to be addressed.
From the enterprises’ own perspective, many still lack inventions or innovations that can be effectively applied and generate practical and economic value. Funding for research, innovation and idea implementation remains too limited, while investment in technological transformation and workforce training is still insufficient. Many experts believe confidence in the practical applicability of domestic innovations and inventions remains low, making it difficult for them to compete with products that have already been tested in practice, particularly imported products.
Objectively, there are also obstacles arising from mechanisms and policies, such as cumbersome intellectual property registration procedures, insufficient mechanisms for copyright protection, and weak prevention and handling of copyright infringement.
In addition, weak supervision of enterprise activities has led some organisations to exploit preferential mechanisms and policies intended for science, technology and innovation for personal gain, thereby affecting the broader objectives of the country’s science and technology development strategy.
Hoang Ngoc Nhan, Director General of the National Agency for Start-ups and Technology Entrepreneurship under the Ministry of Science and Technology, assessed that technological capability and innovation are vital factors for science and technology enterprises.
He noted that this is a ‘golden’ period for technology enterprises to make breakthroughs, thanks to policies and mechanisms that place enterprises at the centre of the development ecosystem, identify science and technology as a strategic breakthrough, and recognise the private sector as a driving force. However, in order to achieve breakthroughs, technology enterprises, particularly start-ups, cannot do without the “brainpower” represented by the ideas, initiatives and inventions of the intellectual community.
This mutual support is essential for transforming ideas and inventions into practical products, while also creating opportunities for enterprises to commercialise products, enhance corporate value, dominate the domestic market and gradually expand into international markets.
