Vietnam is at a crucial moment, preparing to enter a new era - the era of national growth. Therefore, Resolution 57-NQ/TW issued by the Politburo on December 22, 2024 on breakthroughs in science, technology, innovation and national digital transformation is the guiding principle for Vietnam to develop rapidly and sustainably. In particular, with the target of GDP growth of 8% or more this year, creating momentum for double-digit growth in the coming years in the context of export difficulties due to fluctuations in tariff policies, the new growth momentum from innovation and digital transformation is even more important to help Vietnam break through in the new development cycle.

Ideal destination

According to experts, Vietnam has achieved many outstanding achievements in the fields of science, technology, innovation and high-quality human resource development, making an important contribution to the country's socio-economic development. Institutions and policies on science, technology, innovation and human resources have been gradually improved. Total factor productivity contributing to economic growth is expected to reach about 42% in the 2021-2025 period.

In particular, Vietnam is playing an increasingly important role in the global smart manufacturing supply chain due to its natural advantages, being one of the few countries in the world with rare earth reserves, an important raw material in the production of semiconductor chips. This industry is becoming a field that determines the technological competitive advantage of many countries and Vietnam has made impressive steps in semiconductor cooperation with countries and economies such as the United States, South Korea, Japan, Taiwan, Europe... and large technology corporations such as Cadence, Intel, Qorvo, Apple, Marvell, Samsung, Synopsys. Vietnam was also selected by the United States as one of six countries participating in the Chips Act to develop the global semiconductor supply chain.

Along with that, the field of artificial intelligence is also leading breakthrough changes in the world and accordingly, many corporations such as Microsoft, Google, Qualcomm, Meta have increased cooperation in research and application of AI in Vietnam. Domestic corporations such as Viettel, VinGroup, FPT, CMC, ... have also proactively and actively implemented synchronous projects and research and development activities on AI. Developing the innovation and startup ecosystem, Vietnam's global innovation index (GII) has also continuously increased in rank and Vietnam is currently ranked 44/133 countries and territories and has become an ideal location for many important international events on innovation and startups.

Director of the Department of Innovation (Ministry of Science and Technology) Nguyen Mai Duong assessed: Vietnam is gradually affirming its position as an attractive destination for the semiconductor and artificial intelligence industry. Many programs to support research and training of high-quality human resources in the fields of artificial intelligence (AI), semiconductors and other fields of science and technology will be implemented, combined with connections with large technology corporations in the world to officially transfer technology and development experience. The National Innovation Center was established as an important nucleus of the innovation ecosystem, attracting the participation of large enterprises such as Lam Research, NVIDIA, Marvell, and other technology corporations. Vietnam also ranks third in the region in terms of the number of investment funds, with the participation of more than 210 international venture capital funds and domestic funds such as Mekong Capital, CyberAgent Ventures, VinaCapital Ventures.

According to Dr. Tran Van, former Vice Chairman of the National Assembly's Finance and Budget Committee, innovation and digital economy help make production, business and small trade more reasonable with lower costs, especially connecting with the market, customers, and accessing formal financial services instead of black credit. This is also the goal of the National Financial Inclusion Strategy that Vietnam is implementing and fintech and digital banks are taking the lead in implementing.

In the fintech sector alone, Vietnam currently has about 260 innovative startups in many fields from payment, blockchain, personal finance, healthcare, digital banking, credit, small and medium enterprise finance, POS payment acceptance devices, credit assessment and electronic identification (eKYC), technical infrastructure, consumer credit... bringing many utilities and new digital financial service experiences to people and businesses.

Identify the "missing" points

Dr. Tran Van said: In the context of a volatile global economy, traditional export growth is facing difficulties due to fluctuations in tariff policies, Vietnamese enterprises are under pressure to innovate to maintain growth and compete in both domestic and international markets. Innovation and digital transformation are no longer options but have become vital factors for businesses. Many Vietnamese enterprises take advantage of e-commerce platforms to effectively reach domestic customers.

Mr. Nguyen Thanh Hung - Senior Advisory Council of Vietnam E-commerce Association (VECOM) said that the trend of online consumption is increasing strongly, opening up great opportunities for businesses. Platforms such as Amazon, Alibaba, Shopee or Tiktok Shop are helping Vietnamese businesses access international markets more easily without having to invest too much in traditional distribution systems. In fact, many businesses exporting agricultural products, consumer goods and handicrafts have achieved positive results thanks to digitalization strategies. For example, Vinami Company has brought freeze-dried durian to the Chinese and US markets through e-commerce platforms. Thanks to digital technology, businesses can approach customers, analyze consumer behavior and optimize business strategies more accurately.

Although clearly aware of the importance of innovation and digital transformation, many experts also pointed out that this field still has limitations such as: lack of specific mechanisms and policies to promote innovation in some important and emerging areas in business, technology, etc. The mechanisms and policies are not suitable for developing an innovation ecosystem.

Dr. Vo Tri Thanh, Director of the Institute for Brand and Competitiveness Strategy Research, an economic expert, said that innovation in Vietnam is still slow due to many objective factors. To change the way of development and the growth model, Vietnam needs to rely more on innovation and increase labor productivity.

"Innovation requires learning. Learning here is not only about absorbing, mastering, initiating, and creating technology at different levels, not only about changing management processes, changing business models, and products, but also about learning how to manage innovation in a new context," Dr. Vo Tri Thanh shared.

Associate Professor, Dr. Le Thanh Tam (National Economics University) commented: The legal framework for the digital economy has not kept up with the progress of science and technology, inventions and patents, so it has not really covered all new business models and production methods. This leads to the fact that at times and in some places, the licensing procedures are still complicated, there is no sandbox controlled testing mechanism, and the regulations on data management, network security and information security are not clear. The ability to access investment capital sources, the quality of resources, digital infrastructure, and cooperation in the ecosystem all need to be improved...

A strong push for innovation

Science, technology, innovation, and digital transformation are not only trends, but also a mandatory reality for Vietnam to keep up with, catch up with, and surpass. Therefore, Resolution No. 57-NQ/TW of the Politburo on breakthroughs in science, technology, innovation, and national digital transformation is highly strategic, both in terms of timing and content. The Resolution, with clear strategic directions and high determination, is a strong "push" for Vietnam's science, technology, and innovation.

To effectively implement Resolution No. 57-NQ/TW, the National Assembly issued Resolution No. 193/2025/QH15 promulgating 12 pilot mechanisms and policies to institutionalize Resolution No. 57-NQ/TW into practice for issues that can be implemented early, without waiting for the National Assembly to pass laws. The Government also issued Resolution No. 03/NQ-CP on the Government's Action Program to implement Resolution No. 57-NQ/TW and most recently, Prime Minister Pham Minh Chinh launched the "Digital Education for All" movement. At the same time, the Prime Minister also launched the "National Emulation in Innovation and Digital Transformation" movement to create a new momentum in the whole society to implement Resolution No. 57-NQ/TW of the Politburo and Resolution No. 03/NQ-CP of the Government.

The movement was launched with three strategic determinations: Innovating thinking, perfecting institutions to create a favorable environment for innovation and digital transformation; building breakthrough technology infrastructure and developing high-quality human resources to meet the requirements of the times; synchronously implementing digital transformation across society, contributing to modernizing the economy and improving the quality of people's lives.

In order to strive for advanced potential, science, technology and innovation in many important areas by 2030, among the leading countries in the upper middle-income group; the scale of the digital economy reaching at least 30% of GDP; the rate of online public service usage by people and businesses reaching over 80%; advanced, modern digital technology infrastructure, super-large capacity, super-wide bandwidth on par with developed countries, Prime Minister Pham Minh Chinh has asked the business community to focus on implementing 3 key missions. That is, building a long-term, sustainable vision and strategy, looking far and wide, thinking deeply, doing big; having a proactive and flexible business structure; a strong culture of innovation; promoting international cooperation, research, development and innovation in the digital environment. At the same time, shift from applying and mastering technology to building breakthrough innovation capacity, taking advantage of opportunities from the Fourth Industrial Revolution to "take shortcuts and get ahead" to master the future. In addition, reform the management model while expanding the capacity to apply new technologies, digitize and develop breakthrough products and services to create differences and compete in the market.

As the leading economic locomotive of the country, Vice Chairman of the Ho Chi Minh City People's Committee Vo Van Hoan expressed that with its unique policy mechanism, Ho Chi Minh City will continuously promote connections with diverse resources, markets and global partners, helping the city's startup community increase its competitiveness and reach out to the international market. Among these, one of the areas that the city will focus on is developing innovation and creative startups towards creating a favorable legal environment to improve efficiency and quality; gradually bringing the creative startup ecosystem of the city in particular and Vietnam in general to be on par with other countries in the region.