Significant resources sought for high-tech industrial production

10:34 | 07/05/2018 Science - Technology

(VEN) - Vietnam is seeking to apply the latest, cutting-edge science and technology, especially in industrial production, in order to increase product value and create improved competition capacity in the race to catch up with the fourth industrial revolution.

significant resources sought for high tech industrial production

Harnessing biotechnology

According to the Department of Science and Technology under the Ministry of Industry and Trade, the power sector is one of the leading segments in the Vietnamese economy making productive use of high-tech know-how and technology developed abroad in the development of power sources and grid management and operations.

The Ministry of Industry and Trade has provided support for other businesses seeking to undertake high-tech projects, such as the Saigon Industry Corporation’s (CNS) first chip manufacturing plant in Saigon Hi-tech Park and the Tran Hong Quan Trading Ltd Company’s US$575-million Dak Nong aluminum smelting plant.

There are also high-tech projects harnessing the latest advancements in biotechnology, such as the production of collagen and gelatin from Tra fish skin, manufacturing of biological chips for the diagnosis and treatment of cardiovascular disease, and treating waste oil to protect the environment.

Support policies

Mindful of the need to close the technological gaps between its industries and state-of-the-art knowledge, Vietnam has adopted various decisions in recent years to promote high-tech application in industrial sectors in order to improve production and organization. These include Prime Ministerial Decisions 347/QD-TTg and 842/QD-TTg approving the development plan of a number of high-tech industries; and Prime Ministerial Decision 2457/QD-TTg approving the national program of high-tech development by 2020.

During the 2015-2017 period, the Ministry of Industry and Trade selected 13 high-tech projects, while the Ministry of Science and Technology approved the study and creation of new products in the fields of medicine, pharmacy, engineering, automation and information technology.

However, investment in high-tech requires substantial resources, making the role of the state and of foreign investors extremely important.

According to Prime Ministerial Decision 842/QD-TTg, the general objective is to develop a number of high-tech industries so that by 2020, the value of high-tech products and applied high-tech products will account for around 45 percent of the GDP with local content of about 50 percent of product value.

Quynh Nga