Transaction value in local science-technology market up 22 pct. annually over last decade
The transaction value in Vietnam’s science-technology market posted average annual growth of 22 percent during the 2011-2020 period, a recent conference reviewing the 10-year development of the market heard.
Held jointly by the Ministry of Science and Technology (MoST) and the University of Economics - HCM City, the conference focused on assessing achievements and shortcomings in the development of the science and technology market over the last decade and to set orientations for the next 10 years.
Vietnam currently has over 800 market intermediaries and the number of transaction platforms rose from eight prior to 2015 to 20 in 2020.
Along with traditional intermediaries, new-style organisations have developed strongly, with 69 business incubators and 28 business promotion programmes.
In the 2020 Global Innovation Index (GII), Vietnam ranked 42nd among 131 economies. Among those making the most significant progress in their GII innovation ranking over time, Vietnam led 29 lower middle-income countries and was third in Southeast Asia. Last year, it moved up 13 places from the previous year to 59th in the rankings of 100 economies with the best start-up ecosystems.
Tran Van Tung, Deputy Minister of Science and Technology, said that during the 2021-2030 period the ministry will focus on completing the legal environment and promoting scientific and practical research for the development of the science and technology market.
It will also work to remove barriers facing development, improve human resources training, and develop national infrastructure for the market.
VinGroup's investment in the auto industry is a great challenge, coming from high aspirations and showing a sense of responsibility to the country.