Experts say that to promote the innovation ecosystem, Vietnam needs to require foreign-invested enterprises to have a clear roadmap and commitment to technology transfer from the investment licensing stage.

“How can we make life easier for farmers, reduce their toil, and still ensure bountiful harvests?” This question has driven farmer Pham Van Hat to embark on a journey of invention.

Dang Tan Duc, director of Becamex R&D Institute, stressed that there is a need to shift from assembly to activities that can bring higher added value by applying technology.

Vietnam holds 27% of the ASEAN market share for generative AI (GenAI) startups, second only to Singapore’s 44%, according to the ASEAN GenAI Startup Report 2024 by GenAI Fund.

In the context as Vietnam is promoting institutional reform, the development of policies based on an efficiency assessment mechanism is an urgent requirement to ensure focused investments.

Experts call for urgent legal reforms to support innovation, digital transformation, and private sector leadership in Vietnam’s tech sector.