Vietnam to connect financial resources to accelerate innovation activities

More than 20 localities in Vietnam have been establishing Creative Startup Centers to connect local, regional and national resources for the acceleration of innovation activities.

Minister of Science and Technology Huynh Thanh Dat

This morning, the Ministry of Science and Technology held a meeting to respond to the World Creativity and Innovation Day 2024 in Hanoi. The event saw the participation of leaders of the Ministry of Science and Technology, United Nations representatives in Vietnam, representatives of embassies of several countries and international organizations in Vietnam, representatives of departments, ministries and some localities; business and training organizations.

Speaking at the ceremony, Minister of Science and Technology Huynh Thanh Dat said that since 2017, the United Nations General Assembly has chosen April 21 every year as the World Creativity and Innovation Day to raise awareness of the role of creativity and innovation in all aspects of human development.

Since 2022, the Ministry of Science and Technology has organized activities to respond to the World Creativity and Innovation Day which many ministries, localities and organizations in the country participated enthusiastically. This activity aims to raise awareness of the role of creativity and innovation in socio-economic development, building a sustainable society and promoting all aspects of human development as well as promoting the development of the national innovation system with close links between the state sector and production, business, investment, research and training sectors.

From 2023, with technical support from the World Intellectual Property Organization, the Provincial Innovation Index (PII) has been officially deployed nationwide under the direction of the Government that issued the Resolution No. 10/NQ-CP to provide the current status of the socio-economic science, technology and innovation-based development model in each locality. Thereby, PII provided basis and evidence on strengths, weaknesses, potential factors and necessary conditions to promote local socio-economic development based on science, technology and innovation.

Along with that, Vietnam's creative startup ecosystem is increasingly growing, creating a new generation of intellectual property-based businesses which are capable of accessing the global market. In recent years, in addition to support activities for the private sector, the State has implemented many activities to aid creative startups.

The startup support network has been developing relatively effectively with the active participation of members in the ecosystem. National start-up support centers are being formed in Hanoi, Da Nang, Ho Chi Minh City and some localities while more than 20 localities have been establishing creative startup centers to connect local, regional and national resources.

The legal system on intellectual property is increasingly improved, creating motivation to promote and support innovation activities and apply scientific and technological research results to production and business, contributing to the country's socio-economic development.

Minister Huynh Thanh Dat said that Vietnam is transforming its growth model from relying on capital and labor to a science, technology and innovation-based growth model. This is a long-term goal, requiring the joint contributions of departments, ministries, localities, businesses and society in the application and development of science, technology and innovation.

At the ceremony, UN Resident Coordinator in Vietnam Pauline Tamesis said that Vietnam has a clear vision of technological innovation and digital transformation and the Southeast Asian country has shown outstanding progress.

In particular, Vietnam ranks 46/132 countries, ranking first among low-middle-income countries in the 2023 Global Innovation Index. This progress is of utmost importance for Vietnam to achieve its vision of becoming a high-income developed country by 2045 and the United Nations has been supporting Vietnam on the way to reach this goal.

According to Ms. Pauline Tamesis, the theme of this year's World Creativity and Innovation Day is "INSPIRE - Inspiration", which clearly reflects the important role of education in fostering creativity and innovation for the young generation, especially empowering youth in innovative fields such as science, technology, engineering and mathematics. However, innovation is not limited to high-tech fields but creates favorable conditions for ethnic minorities and youth.

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