For Vietnam’s expertise firms to compete globally, specialists underlined that the State should act as an energetic enabler by commissioning main nationwide tasks, creating an preliminary home market and utilizing public procurement to strengthen nationwide technological capabilities.
Tech champions as engines of progress
The world’s main expertise powers all have flagship firms driving strategic industries, from Huawei in telecommunications, Samsung and LG in electronics, TSMC in semiconductors, to NVIDIA, Microsoft, Google and SpaceX in synthetic intelligence (AI), cloud computing and house expertise.
As Vietnam pursues double-digit financial progress, future growth will more and more rely upon science, expertise, innovation and digital transformation somewhat than merely increasing funding or manufacturing.
At a latest Government assembly with companies, Finance Minister Ngo Van Tuan recognized six main financial bottlenecks, together with weak sci-tech and innovation capability and shortages of high-quality human assets. One proposed resolution is to set up a gaggle of enormous, State-owned enterprises able to main strategic industries.
The objective isn’t merely to create bigger firms, however to develop “locomotive” enterprises able to pulling hundreds of smaller companies into higher-value provide chains. Without firms that grasp core applied sciences and compete globally, Vietnam will battle to obtain breakthroughs in AI, semiconductors, cybersecurity, massive information and digital infrastructure.
Prime Minister Le Minh Hung has known as for main expertise enterprises to spearhead innovation, digital transformation and inexperienced transition, whereas the Ministry of Science and Technology has been tasked with strengthening insurance policies that encourage R&D and the adoption of rising applied sciences. State-owned firms are anticipated to take the lead in strategic industries whereas creating alternatives for personal companies, significantly SMEs, to have interaction deeper in main tasks and provide chains.
Assign strategic missions
Lieutenant General Tao Duc Thang, Chairman and General Director of Viettel Group, stated firms chosen as nationwide champions ought to obtain clearly outlined strategic missions somewhat than being judged solely on income or revenue. These missions ought to embody mastering core applied sciences, creating home provide chains, increasing internationally, taking part in key nationwide tasks and producing strategic applied sciences for Vietnam.
Viettel has proposed that the Government formally designate main expertise enterprises, together with each State-owned and personal firms akin to Viettel, VNPT, MobiFone, FPT and CMC, and supply them with strong-enough mechanisms to develop strategic nationwide applied sciences.
The group additionally advisable that the Government turn into a significant purchaser and buyer of Vietnamese expertise by commissioning large-scale tasks that contain home firms from analysis and design via testing, manufacturing and commercialisation.
VNPT General Director Huynh Quang Liem equally argued that Vietnam ought to use home demand as a launchpad for expertise firms to develop core applied sciences via large-scale nationwide tasks as a substitute of fragmented initiatives. He additionally proposed a nationwide programme to fee main expertise challenges, assigning Vietnamese companies accountability for delivering clearly outlined outcomes.
VNPT additional prompt that authorities businesses prioritise home expertise merchandise that meet technical requirements whereas evaluating tasks primarily based on life-cycle prices somewhat than preliminary funding alone.
MK Group Chairman Nguyen Trong Khang believed such a nationwide “commissioning” mechanism would assist create Vietnamese expertise worth chains and nurture future “tech eagles.” He additionally urged the Government to entrust home companies with bigger and more difficult tasks, arguing that main nationwide missions would speed up functionality constructing.
Khang additional proposed supporting expertise firms via abroad funding and mergers and acquisitions, enabling them to purchase confirmed applied sciences as a substitute of spending years creating them independently.
CMC Chairman Nguyen Trung Chinh added that Vietnam ought to set up a clear mechanism to choose succesful firms for every strategic expertise, guaranteeing nationwide strategic aims are translated into concrete programmes somewhat than fragmented efforts.
Under the nationwide plan for 2026–2030, Vietnam goals to develop a minimum of 10 massive strategic expertise enterprises by 2030, every producing annual income of a minimum of 1 billion USD, using over 5,000 employees, working a recognised science and expertise organisation, and spending a minimum of 3% of annual income on analysis and growth./. VNA