Mr. Nguyen Mai Duong, Director of the Department of Innovation, Ministry of Science and Technology, delivered the opening speech at the Forum.

Innovation – the driving force for economic development

At the forum, Mr. Nguyen Mai Duong, Director of the Department of Innovation, Ministry of Science and Technology, emphasized that innovation is the activity of creating new products, services, processes, business models or significantly improving them compared to existing ones. This is a field that is receiving high attention from the leaders of the Party, State and Government.

The Law on Science, Technology and Innovation, passed by the National Assembly in June 2025, is an important milestone when for the first time innovation is placed on par with science and technology. Currently, the Ministry of Science and Technology is building a system of documents guiding the implementation of the law, especially related to innovation. The representative of the Department of Innovation said that enterprises are the center of the system. Preferential policies for enterprises include: Tax exemption and reduction; loan interest support; funding for research, development and technology transfer; Providing financial support vouchers to commercialize products. In addition, a specialized stock market will be established for innovative start-ups; a national venture capital fund and a local venture capital fund will be established.

Innovation centers play a central role in connecting and sharing benefits from research, creating cohesion in the national innovation ecosystem. In the future, each locality, ministry and sector will have at least one center; research institutes and universities will be encouraged to establish centers; the country strives to have about 100 centers at all levels.

Mr. Pham Thy Hung, Deputy Director of the Bidding Management Department, Ministry of Finance presented a speech at the Forum.

Public-private partnership policy promotes innovation

Mr. Pham Thy Hung, Deputy Director of the Bidding Management Department, Ministry of Finance, said that Decree No. 180/2025/ND-CP stipulates the public-private partnership mechanism in science, technology development, innovation and digital transformation. Notable incentives include: R&D tax incentives, land rent exemption and reduction, risk acceptance, ownership of research results, and many other supports.

For public-private partnership (PPP) projects, state capital can account for up to 70% of the total investment; the state can order or finance part or all of the cost; share the revenue reduction at 100% in the first 3 years. "The Ministry of Finance accompanies agencies, organizations and individuals to implement public-private partnership in the fields of science, technology and innovation", Mr. Pham Thy Hung emphasized.

The Ministry of Finance has issued Official Dispatch No. 11725/BTC-QLDT dated July 31, 2025 guiding the criteria for determining public-private partnership projects; at the same time, it is disseminating, training and developing a PPP handbook in the field of science, technology and innovation.

Overview of the Forum

The forum also received many recommendations from experts and businesses. Mr. Dang Duc Anh, Deputy Director of the Institute for Policy and Strategy Studies, said that Vietnam needs to shift from a growth model based on labor to one based on knowledge, technology and efficiency, in which innovation is the key driving force.

Delegates proposed strengthening technological autonomy, promoting R&D investment, and developing venture capital funds to reduce risks for high-tech enterprises. Mr. Dang Tan Duc, Director of the R&D Institute of Becamex Group, said that developing regional innovation centers, startup incubators and international connections will help Vietnamese enterprises access technology, attract experts, and spread innovation from foreign investment.

Presentations from businesses also emphasized the need to develop large enterprises in the platform industry, improve human resource quality, train digital skills, 4.0 skills and closely connect businesses - universities - research institutes to meet practical needs./.