Prime Minister Chính Stresses Nationwide Drive for Innovation, Startups and Digital Transformation

Hanoi, The Gulf Observer: Prime Minister Phạm Minh Chính has underlined the vital role of widespread public participation in fostering entrepreneurship, innovation, and digital transformation as Vietnam advances toward becoming a start-up nation.

Speaking on Tuesday while chairing a series of meetings of the Government’s Standing Committee, the Prime Minister addressed key policy proposals, including a draft decree on build-transfer (BT) projects, regulations concerning the global minimum corporate tax, and the development of a national start-up programme.

During the session, the committee reviewed and provided feedback on several significant documents. These included a draft decree detailing the implementation of BT projects; a draft regulation outlining the application of National Assembly Resolution 107/2023/QH15 on the global minimum tax aimed at preventing base erosion; and the proposed national start-up development scheme.

After hearing reports and contributions from participants, PM Chính called for further clarification and refined proposals, particularly to define the roles of innovation and digital transformation within the broader national start-up framework.

He emphasised that the movement for start-ups, innovation, and digital transformation must be a nationwide initiative—led by the Communist Party, managed by the State, and supported by the Việt Nam Fatherland Front. These efforts should align closely with the country’s strategic goals for rapid and sustainable growth, GDP expansion, and enhanced labour productivity.

Highlighting several strategic pillars, the Prime Minister called for intensified public awareness campaigns, the development of sound institutional mechanisms, and the mobilisation of domestic resources to build a resilient and self-reliant ecosystem. He also underscored the need for targeted policy support, human resource development, ecosystem enhancement, regular performance evaluations, recognition of exemplary models, and robust public communication strategies to showcase and replicate successful innovations.

“These efforts should generate a nationwide movement where innovation, entrepreneurship, and digital transformation transcend limitations, encouraging all actors to surpass their own boundaries,” he stated.

On the draft decree concerning BT project implementation, PM Chính reaffirmed the Government’s commitment to enhanced decentralisation and the delegation of authority. This, he said, must be paired with sufficient resource allocation, strengthened implementation capacity, and rigorous oversight mechanisms.

He advocated for a policy shift from pre-approval controls to post-implementation evaluations, aimed at ensuring balanced interests and equitable risk-sharing among stakeholders. The decree, he noted, should foster governance that supports development while maintaining rigorous management, offering flexible payment mechanisms, and safeguarding against corruption, waste, and misconduct.

The Prime Minister concluded by reiterating the Government’s resolve to foster an enabling environment for innovation, entrepreneurship, and digital growth, making these pillars central to Vietnam’s future economic trajectory.