Vietnam now ranks 54th in the global innovative startup ecosystem, a five-grade promotion compared with 2021, with four technology unicorns (unicorn is a startup with value of $1 billion or higher).

A startup day – Techfest – has spread throughout the country, with more than 10 local Techfests organized in 2022. The appearance of networks that support innovative startups at local and regional levels shows the strong rise of the Vietnamese startup ecosystem.

This can be seen in the Global Innovation Index (GII). In the last 12 years, Vietnam has had innovation results higher than the development level. Statistics show efficiency in converting input resources into innovative output results.

In 2022, MST joined forces with WIPO (World Intellectual Property Organization) to build and perfect the PII (public sector innovation index).

This is the first year the index was deployed in 20 localities on a trial basis. PII is hoped to serve as an effective tool for every city and province to identify strong and weak points, potential and necessary conditions for socio-economic development promotion.

MST and its partners have also built a published capability ranking in the field of AI for research institutes and training establishments in Vietnam. 

This action will help to realize the national strategy on researching, developing and utilizing AI by 2030.

According to the Minister of Science and Technology Huynh Thanh Dat, the Party’s policies on science and technology development and innovation have been perfected in accordance with orientations shown in the 13th Party Congress’ resolution.

MST is working out policies to develop the science and technology market, and to commercialize the results of research projects using the state budget, and policies on promoting the transfer, mastery and development of technologies from abroad to Vietnam in priority fields from now to 2025, with a vision towards 2030.

Deputy Prime Minister Vu Duc Dam, who attended the conference on reviewing science and technology tasks in 2022 held several days ago, said in order to turn science and technology into the driving force for the country's development, Vietnam needs regulations on state management in terms of science and technology. 

Legal documents with reasonable regulations must be used so that scientists feel secure carrying out research and can spend less time on administrative procedures.

Trong Dat