Are there ways for Vietnam to build infrastructure for science, technology, innovation, and digital transformation without having to use too many of the state’s resources?

When determining that science and technology and innovation are the pillars and foundations for the development of the country in the new era, we need to build infrastructure for them. Only then can these three areas develop strongly and sustainably.

Resolution 57 emphasizes the need to make investments in key and priority fields. We need to change our approach. With the same amount of money, investment in infrastructure must make breakthrough developments. With the same amount of 2 percent of state budget for science and technology development and a focus on only some priority fields, difficult questions will become solvable.

Resolution 57 specifies that at least 3 percent of total annual budget expenditure will be allocated to the development of national science and technology and innovation, and the figure will be increasing gradually in accordance with development demand.

The use of the 3 percent needs to be flexible. When we need to gather strength on digital transformation, we will spend more on this, and vice versa, we may spend more money on research when necessary.

Regarding capital structure, state funding should only serve as "seed capital," accounting for 20 percent of total investment capital. The other 80 percent of capital needs to be sourced from the private economic sector. I believe that in attracting the community and society to contribute to the country’s development of science and technology, mass media plays a very important role.

Mass media needs to instill in all Vietnamese citizens and enterprises an awareness and a belief in the necessity of applying and adopting science, technology and innovation; creating new ideas on renovating management methods for businesses to develop and increase profits. 

When people and enterprises see the results and effectiveness of applying science and technology, they will increase their investment. Thus, the modest 3 percent of the state budget can stimulate and create a broader market for Vietnamese technology enterprises and can attract 3 percent of GDP for science, technology, innovation and digital transformation.

How does Resolution 57 handle risks in technology research and development?

The changes in mindset and awareness in Resolution 57 is one of its critical spirits, including the principle of accepting risk and acknowledging delays in research and application in reality. 

Resolution 57 also emphasizes the need to remove the spirit "if it can't be controlled, it should be banned", and shows a new viewpoint for institutional regime designing:  the institutional regime must keep up with and create development. 

The resolution mentions the implementation of research through a funding model. Funds can be allocated to various research projects. Some projects will succeed and others may fail, but the overall outcome needs to be positive. 

Out of ten projects, if seven are successful and three do not meet the desired outcomes, with no fraud, no corruption, the overall outcome will be positive.

‘Make in Vietnam’ means autonomy and self-reliance in technology

What role will the private sector play in the implementation of Resolution 57?

Resolution 57 does not differentiate between private and state-owned enterprises when discussing businesses. It states that core technology enterprises, regardless of being private or state-owned, are tasked with mastering strategic technologies and implementing key national projects related to digital transformation.

On January 15th, the 6th National Forum on the Development of Vietnamese Digital Technology Enterprises was held with the theme "Mastering Digital Technology, Mastering the Process of Vietnam's Digital Transformation by Vietnamese Digital Technology Enterprises," also known as ‘Make in Vietnam forum’. Party Chief To Lam attended and delivered directive speeches at the event, assigning tasks to the community of Vietnamese digital technology enterprises.

The forum conveyed strong messages: Self-reliance and autonomy in technology and the development of strategic, core technologies are fundamental to building an independent and autonomous economy.

Vietnamese digital firms must leverage the intellect, human resources, and the spirit of creative entrepreneurship, along with the Vietnamese spirit, to contribute significantly to the country's robust development in the new era. Vietnamese technology enterprises, especially large ones, must embrace Vietnam's mission and make the nation proud in the international arena.

At this ‘Make in Vietnam Forum’, major enterprises, both private and state owned, such as Viettel, VNPT, FPT, CMC, MISA, One Mount, and HDBank, officially committed to master specific core technologies such as 5G, 6G technologies; semiconductor chips; Blockchain; GenAI and Cloud. This marks the initial step towards implementing the Resolution.

to be continued...

Van Anh