23:41 (GMT +7) - Tuesday 10/12/2019

Vietnam Today

Driving locally-made technology

Released at: 17:12, 09/05/2019

Driving locally-made technology

Photo: Minh Do

Forum on "Make in Vietnam" strategy held for first time.

by Minh Do

Innovate in Vietnam, make in Vietnam, design in Vietnam, and produce in Vietnam, with Vietnamese tech companies completing all processes, was the message from Minister of Information and Communications Nguyen Manh Hung’s regarding the “Make in Vietnam” strategy in his speech at the National Forum on Developing Vietnam Technology Companies, “Aspiration, Vision and Strategy for a Prosperous Vietnam”, held on May 9 in Hanoi.

This was the first holding of the forum and was attended by Prime Minister Nguyen Xuan Phuc, Chairman of Hanoi People’s Committee, Mr. Nguyen Duc Chung, and leaders from the government, ministries, branches, foreign organizations, and tech companies in Vietnam, together with analysts.

A focus on assembly will not help Vietnam address its labor productivity and escape the middle-income trap. “To make in Vietnam is our responsibility as a global country and citizen,” said Minister Hung. “In addition to buying global technology, Vietnam also needs to contribute to technological development. Tech companies are key to boosting the application of technology at companies and in the economy and society as a whole. Developing Vietnamese tech companies will be the country’s No. 1 priority.”

There needs to be a market that encourages the establishment of local tech companies, he added. “We also need more tech startups using global technologies to develop solutions and products and providing services for other companies to innovate,” he said. “Small technology companies can create a revolution in developing and applying technology in Vietnam. Then some of the hundreds of thousands of startups will become tech giants.”

Vietnam will build a technology development fund contributed to by Vietnamese inside and outside of the country. The forum also discussed major issues facing Vietnam, and there was recognition that not everything can be resolved immediately and it’s a matter of constant adjustment and learning.

Prime Minister Phuc told the forum that the government will work with relevant ministries to shortly issue a national digital transformation strategy to create markets for tech companies. He agreed with piloting the building of industrial parks and innovative technologies to create the necessary conditions for businesses to develop. Education must also be improved, he added. The government will address specific issues such as links and calling for enterprises to form venture capital funds. Mechanisms and policies must be studied to attract foreign human resources and to promote enterprises in digital technology.

He assigned the Minister of Information and Communications to build a strategy for tech company development, for submission to the government in June, to act as a legal basis for implementation.

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