In the nationwide digital transformation technique, one of many key duties is the great digital transformation of all sectors, companies, and state organizations, with the purpose of enhancing transparency and selling operation inside a digital atmosphere.
In this context, the Government is entrusting the private sector with investing in, constructing, and growing the nationwide digital infrastructure, as a substitute of relying totally on state-owned enterprises (SOEs).
Developing a digital economic system requires funding in science and expertise
The Politburo’s Resolution 57-NQ/TW (Resolution 57), issued on December 22, 2024, on breakthroughs within the improvement of science and expertise (S&T), innovation, and nationwide digital transformation, is taken into account a vital pillar for private enterprises in addition to scientists. Therefore, realizing this decision by way of particular insurance policies wants to be carried out shortly, synchronously, and decisively; in any other case, the chance for breakthroughs might be missed.
Resolution 57 additionally clearly demonstrates the Party and State’s robust dedication to the event of S&T and innovation, concretized by clearly outlined assets. This consists of the willpower to enhance funding in S&T, innovation, and digital transformation.
Accordingly, by 2030, funding for analysis and improvement (R&D) will account for two % of the whole nationwide GDP, with social funding accounting for over 60 %; no less than 3 % of the whole annual finances expenditure might be allotted to science and expertise improvement, innovation, and nationwide digital transformation, step by step rising as improvement wants come up.
In the previous, state finances expenditure on science and expertise has constantly been under 1 % of complete state finances expenditure. With elevated funding beneath Resolution 57, the Ministry of Finance wants to shift funding in direction of science and expertise, thereby making a basis for the event of this vital subject.
Regarding science and expertise, there are at present three vital points that want to be addressed. First, implementing a mannequin to guarantee output for companies; second, maximizing the mobilization of assets for science and expertise improvement; and eventually, dealing with synthetic intelligence belongings and establishing mechanisms for proudly owning analysis outcomes to make sure the rights of scientific researchers.
The present actuality reveals that mobilizing social funding in science and expertise additionally requires acceptable insurance policies. With the proportion of funding from the state finances remaining low, companies want to play a central position, however authorized boundaries and administration mindsets haven’t but been resolved. Along with that, the strategy to the scientific neighborhood wants to change, empowering them with autonomy and belief, and managing them based mostly on output high quality reasonably than simply specializing in enter procedures.
Private economic system – driving drive
A key spotlight in Resolution 68-NQ/TW (Resolution 68) dated May 4, 2025, of the Politburo on the event of the private economic system is the requirement for the State to accompany and help the event of private enterprises, particularly within the fields of innovation, digital transformation, and enhancing competitiveness. In follow, this dedication is most clearly concretized by way of the development of a complete digital ecosystem for companies.
Right from the enterprise registration stage, the implementation of on-line registration, digital authentication, and digital licensing helps companies enter the market quicker, at decrease prices, and with larger transparency. This is not only an administrative process reform, however a vital first step for private enterprises to totally take part within the digital economic system. During operation, the digital public service system acts as a bridge between companies and the State.
Procedures associated to taxes, customs, insurance coverage, labor, or entry to help insurance policies, if built-in and operated on unified digital platforms, will assist companies scale back the burden of compliance and enhance forecasting capabilities. This is especially in keeping with the spirit of Resolution 68 on creating essentially the most favorable circumstances for the steady and long-term improvement of private enterprises.
Digital transformation help packages for small and medium-sized enterprises (SMEs) are additionally a vital component in realizing Resolution 68. With publicly introduced help applications, on-line registration, and clear progress monitoring, companies may have extra confidence within the coverage and be extra proactive in investing in expertise. This is a key think about selling widespread digital transformation within the private sector, as a substitute of concentrating it in just a few companies.
The rising prevalence of digital transactions additionally opens up new alternatives for innovation. From digital contracts and digital funds to digital provide chain administration, SMEs can function extra flexibly, scale back dependence on conventional processes, and scale up quicker. This is particularly vital within the context of more and more fierce world competitors, the place velocity and adaptableness decide the survival of companies. The digital atmosphere additionally helps SMEs simply join with the worldwide market, aligning with Resolution 68’s path on enhancing integration capability.
In the long run, Resolution 68 goals not solely to enhance the variety of private enterprises however, extra importantly, to type a contemporary drive of private enterprises with regional and world competitiveness. Through digital transformation, private enterprises can restructure their governance fashions, enhance labor productiveness, and make the most of assets extra effectively. This is the muse for companies to improve their resilience to financial fluctuations and obtain sustainable improvement.
A strongly digitized private financial sector will contribute positively to the formation of a nationwide digital economic system, in step with the spirit of Resolution 68 on harmonious improvement amongst financial sectors. Vietnam may have extra impetus to enhance its competitiveness and place on the worldwide stage.
By Nguyen Quan (Former Minister of Technology and Science) – Translated by Anh Quan