Innovation plays an increasingly important role in sustainable development: PM Chinh

In his speech, the Government chief reviewed the results of innovation i the nation in recent times, and praised all-level sectors and localities for focusing on synchronous, drastic and effective implementation of tasks and solutions to promote innovation which have produced important results in a variety of fields, thereby making important contributions to the cause of national construction and defence.

Currently, Vietnam has about 4,000 innovative startups, 208 investment funds, 84 incubators, 35 business promotion organizations, and 20 innovative startup centers. The country's innovative startup ecosystem is currently ranked 56/100 countries, with Hanoi and Ho Chi Minh City being among the top 200 innovative startup cities globally.

According to the World Intellectual Property Organization (WIPO), Vietnam's 2024 Global Innovation Index ranked 44/133 countries (up 2 places compared to 2023, up 4 places compared to 2022) and the United Nations' 2024 E-Government Development Index soared 15 places, from 86/193 countries to 71/193.

PM Chinh stated that innovation is increasingly demonstrating its important role and has truly become a breakthrough driving force, indispensable in the development of science and technology in particular and the national development strategy in general, and is the key to rapid and sustainable development.

According to him, innovation is an inevitable and irreversible 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 of Vietnam in the new era of development, as well as the country's contribution to the development process.

Vietnam is facing great opportunities, but also many difficulties and challenges in science, technology and innovation.

The biggest challenge is technological competitiveness compared to other countries in the region and the world; along with the fact that Vietnamese enterprises have not been able to fully master advanced technologies, especially in important fields such as semiconductor chips, artificial intelligence (AI), and cloud computing.

The PM said that October 1st will be designated as Vietnam Innovation Day.

He put forward three viewpoints to promote innovation, including: First, innovation must be a strategic choice, an objective requirement, a key task, and a top priority to boost industrialization, modernization, and rapid, sustainable development.

Second, innovation must take people and businesses as the center, the subject, the goal, the driving force and the main resource, especially the young generation - the future owners of the country. Third, innovation must dare to think, dare to do, dare to act, dare to accept risks, dare to surpass oneself, dare to commit for the benefit of the nation, the people, for the bright future of the nation.

In order for Vietnam to catch up, progress together and surpass the innovation process of humanity, the cabinet leader also pointed out common tasks and solutions in the coming time. In particular, he underscored the need to focus on fine-tuning policy institutions to incentivize enterprises to invest in science and technology, innovation, while ensuring access to financial resources and infrastructure necessary for development.

It is essential to increase investment in developing infrastructure systems, especially strategic infrastructure for transportation, energy, digital infrastructure, telecommunications infrastructure, data infrastructure, and education and training infrastructure.

It is imperative to develop high-quality human resources and increase the attraction of financial investment sources, especially for research and development in areas such as AI, semiconductor industry, green energy, thus creating a foundation for sustainable development from the State budget, businesses, people, domestic and foreign organizations, Chinh emphasized.

At the event, the PM also directed and requested ministries, sectors, localities, and competent agencies to focus on removing difficulties and obstacles, creating favorable conditions for people and businesses in innovation, creativity, and start-up activities. He also asked ministers and heads of sectors, according to their functions, tasks, and authority, to proactively carry out tasks and solutions set out in accordance with resolutions of the Party, the National Assembly, the Government, and the direction of the Prime Minister.

He also requested businesses, investors, and people to actively and practically engage in innovation and start-up activities, thus helping Vietnam keep abreast with other countries in the region and the world.