Vietnam Calls for Businesses to Lead National Innovation Efforts

Hanoi, The Gulf Observer: Deputy Prime Minister Ho Quoc Dung has called for businesses to be placed at the centre of Vietnam’s national innovation process, stressing that innovation must become a key driver of productivity, competitiveness and sustainable economic growth.

Addressing the launch of activities marking Vietnam Innovation Day 2026 in Hanoi on October 4, the Deputy Prime Minister said innovation should move beyond the implementation of activities and focus increasingly on delivering tangible and measurable results.

He noted that businesses are best positioned to identify market demand, formulate practical problems to be addressed, invest resources, adopt and master technologies, organise production and bring innovative products and services to consumers.

According to the Deputy Prime Minister, innovation should enable enterprises to renew and adopt technologies, improve product quality, reduce costs, expand markets and participate more deeply in global value chains. For citizens, he said, the ultimate benefits should include better employment opportunities, higher incomes, improved products and services and a higher quality of life.

He highlighted the progress made in developing Vietnam’s innovation ecosystem, which currently includes more than 4,000 innovative start-ups, organisations and individuals, around 208 venture capital funds and more than 1,400 support organisations. About 34.6 per cent of businesses are engaged in innovation activities, while 20 science and technology exchanges are operating across the country.

However, Dung observed that these achievements remain below Vietnam’s development and competitiveness requirements. He stressed the need to strengthen technological innovation among domestic enterprises and further develop the science and technology market.

The Deputy Prime Minister called for stronger links between businesses and sources of technology, expertise, financing, intellectual property, intermediary organisations and markets. He also urged innovation centres to serve as effective platforms connecting businesses with research institutes, universities, experts, investors and other resources.

He emphasised that research institutes and universities should not only improve the quality of scientific research but also accelerate technology transfer and commercialisation, support innovative start-ups and develop high-quality human resources.

Dung further said international cooperation in innovation should contribute directly to strengthening Vietnam’s domestic technological capabilities and enhancing the country’s position in global innovation networks.

The Vietnam Innovation Day 2026 was held under the theme “Innovation – A Development Driver for the Whole of Society,” with participants calling for stronger cooperation and coordinated action to promote innovation across State institutions, businesses, research organisations, universities and wider society.