Policies needed to boost science, technology and innovation

13:00 | 13/05/2020 Science - Technology

(VEN) - Science, technology and innovation are key to the competitiveness and development speed of any nation, especially in developing countries.

policies needed to boost science technology and innovation
Support policies are needed to help businesses improve the quality of human resources

Vietnam is entering a period of industrialization, modernization and international integration in which science, technology and innovation are the main driving force to promote Vietnam’s transformation into a prosperous, inclusive and sustainable economy. They are also seen as a key tool in the implementation of sustainable development goals; providing solutions to address socioeconomic and environmental challenges and supporting the implementation of national action plans.

The Republic of Korea and Japan are two typical examples of economies which have developed due to their huge attention and investment in science, technology and innovation. Over the past decade, science, technology and innovation in Vietnam have contributed significantly to all three important pillars of sustainable development - economic development, social development and environmental protection.

However, experts say that in order to promote creative innovation in Vietnam, awareness of businesses must be raised regarding its importance, with an official organization gathering information about creative innovation of businesses, and providing them with information and incentives.

In addition, the state needs to create a healthy competition environment in production and business in order to encourage businesses to foster creative innovation. Such an environment provides better guarantees of industrial property rights to creative innovation.

The state also needs to adopt specific policies to support product and technological innovation (from research and development to marketing), for example, easing credit policy to provide them with access to capital resources for technology innovation; and introducing experts, scientists to provide them with technical advice in their science, technology and creative innovation programs.

It is also necessary to enhance creative innovation cooperation among businesses, universities and research institutes since businesses have recently been reluctant to implement product innovation, barely cooperating with external organizations.

More policies and incentives are also needed to improve quality of human resources for research and development, such as strengthening cooperation with universities and research institutes in implementing creative innovation projects; approving technical advisory activities by experts and scientists; and providing incentives for engineers, researchers who move to work in the business world.

The state needs to pay greater attention to small and medium-sized enterprises as it formulates and practices policies on science, technology and creative innovation so that they can innovate more, expand their scale and increase the proportion of revenue to product and procedure innovations.

Quynh Nga