Ministry promotes tech transfer, investment promotion

03-Jun-2020 Intellasia | VNS | 6:02 AM Print This Post

The Vietnam Climate Innovation Centre (VCIC) under the Ministry of Science and Technology (MoST) is implementing programmes to help domestic firms find strategic partners in technology, finance and trade.

During a conference in Hanoi on Monday, Pham Duc Nghiem, deputy director of the MoST’s Department of Business and Market Development, said the support would help local firms better have access to the global value chain.

According to Nghiem, Vietnamese products, such as woodwork, seafood and engineering, have become the country’s key export staples in recent years with annual growth rates of 7-19 per cent thanks to the government’s support policies, including technology transfer.

“However, many firms are facing major challenges related to markets, finance and human resources due to the COVID-19 pandemic as up to 90 per cent of 764,000 Vietnamese firms are small and medium-size,” said Pham Quoc Anh, general secretary of the Hanoi Association of Small and Medium-sized Enterprises.

It is estimated that only some 11.4 per cent of Vietnamese firms invest significantly in technology annually. They are firms that have more than 300 employees and an annual turnover of VND100 billion (US$4.34 million).

Due to limited investment, Anh said only 21 per cent of Vietnamese firms could join the global value chain by the end of last year, compared with 46 per cent in Malaysia.

Therefore, further support from the government is needed to help local firms join the chain, Anh said.

To help firms promote investment and connect to the global market, Tran Hai Linh, chair of the Vietnam-Korea Businessmen and Investment Association, suggested the government support firms in legal frameworks and help them have a better awareness of the legal regulations of importing countries.

At the meeting, the VCIC also announced the launch of the VCIC Connect Programme to support projects and firms in technology transfer, investment promotion and market connectivity, especially in two major markets with technology strength in South Korea and Australia.

“The programme will be a bridge for local firms to access and connect with international partners on technology transfer, trade and investment. It will help them seek business opportunities, market development and investment attraction according to their needs,” Nghiem said.

Vietnamese firms, which have been developing new and creative technologies, products and business models in coping with climate change, can register for the programme until June 15 this year.

In addition, firms, which operate in renewable and effective energy, sustainable agriculture, water management and filtration, information and technology to develop clean technology and respond to climate change, will get priority, according to the organiser.

http://bizhub.vn/news/ministry-promotes-tech-transfer-investment-promotion_316032.html

 


Category: Business, Vietnam

Print This Post