Promising future for domestic science-technology market

Deputy Prime Minister Vu Duc Dam has just signed Decision No.1158/QD-TTg regarding the program to develop the national science-technology (ST) market until 2030, which in turn will boost innovation and competitiveness of domestic businesses as well as the national economy in general.

Research for a bio-technology product in SHTP Labs, the unit with many research results being successfully commercialized.

The national science-technology market development program is expected to contribute to the rise of transaction value of ST goods by 30 percent per year and by 35 percent in major ST export industries.

In addition, the proportions of intellectual property transactions, technology transactions imported from developed countries, and technology transactions from Vietnamese research institutes and universities are predicted to reach over 20 percent, 35 percent, and over 40 percent, respectively.

The program will perfect the legal environment to support the national market growth, the market supply and demand development, while improving the ability to master and upgrade to advanced technologies among businesses as well as encouraging the rise of market intermediaries and market promotion activities.

The core mission of this program is to synchronously develop the national infrastructure for the ST market, successfully establish the national information portal and the shared database, the common integrated technical platform for the ST market.

As said by Pham Duc Nghiem, Deputy Head of the National Agency for Technology Entrepreneurship and Commercialization Development (under the Science & Technology Ministry), this ministry is going to release a detailed instruction document for other ministries and industries, the localities to prepare their own proposal for the national ST market development program until 2030 in accordance with the local program.

The previous ST market development program from 2015-2020 had a positive impact in terms of capital attraction and technology co-development. In total, 3,000 contracts and agreements were signed.

The program projects to promote and connect between supply and demand for the ST market growth achieved significant results with the events like Techdemo (technology exhibition), Techmart (technology market), together with 20 technology transaction floors formed from 2015-2020, the center for application and transferring of ST advances.

Research result commercialization received positive feedbacks as well, thanks to promotion of Techmart by the Center for Statistics and Science & Technology Information of HCMC (CESTI – member of the HCMC Department of Science & Technology), whose job is to connect technological businesses in the ST market.

CESTI’s Director Bui Thanh Hang shared that Techmart encourages and supports both buyers and sellers to make direct transactions and decide the content of these transactions by themselves.

According to Le Trung Hieu, Director of Ewater Engineering, the policies for the ST market have a considerable effect on ST enterprises and the growth of the domestic ST market. He added that the new program for the period from 2020-2030 obviously creates more favor for both the development of ST businesses and ST applications in other companies, which is truly promising for the market health.

Deputy Minister of Science and Technology Tran Van Tung said that after 10 years, the domestic ST market has faced several challenges and gained remarkable achievements. The perfection of policies, support activities, and institution to upgrade the quality of the supply chain as well as the establishment of intermediary organizations are supposed to greatly aid the growth of ST enterprises in the upcoming time.

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