HANOI: Vietnam will become an attractive destination for technology talent and innovative startup communities from the region and around the world, Prime Minister Pham Minh Chinh emphasised at the opening ceremony of TechFest Vietnam 2025 in Hanoi on Dec 13 evening, Vietnam News Agency (VNA) reported.
The National Innovation Startup Festival 2025 (TechFest Vietnam 2025), themed “Nationwide Innovation and Entrepreneurship — The New Growth Engine,” was jointly organised by the Ministry of Science and Technology and the Hanoi People’s Committee.
He stressed that in recent years, the Party and the State have consistently paid close attention to and issued numerous guidelines, mechanisms, and policies to promote startups, innovation, and national digital transformation.
Chinh acknowledged and commended ministries, sectors, and localities, especially the Ministry of Science and Technology, the capital city of Hanoi, the TechFest Organising Committee, as well as experts, scientists, the business community, and domestic and international organisations, for their great efforts and significant contributions to the development of the startup and innovation ecosystem and the promotion of national digital transformation.
He stressed that in recent years, the Party and the State have consistently paid close attention to and issued numerous guidelines, mechanisms, and policies to promote startups, innovation, and national digital transformation.
The Politburo has promulgated a series of strategic resolutions across various fields, including Resolutions No. 57, 59, 66, 68, 70, 71, and 72, which identify science, technology, innovation, and digital transformation as key breakthroughs.
The government has issued action programmes to implement these strategic resolutions, aiming to build a startup and innovation-driven nation based on advanced technologies, an open institutional framework, seamless infrastructure, smart governance and human resources; and to develop an independent, self-reliant economy with deep, substantive, and effective international integration. However, the cabinet leader noted that despite encouraging initial results, due to a later starting point, Vietnam’s startup and innovation ecosystem still lags behind those of the region and the world and has yet to fully match the potential, intelligence, and capabilities of the Vietnamese people.
Chinh called on ministries, sectors, and localities, particularly the Ministry of Science and Technology to proactively improve institutions and policies, remove barriers for new business and technology models, accept risks and challenges during the piloting and deployment of new models, and establish synchronised, open, and transparent risk management and supervision mechanisms.
Resources should also be concentrated on investing in technological infrastructure, innovation centres, shared digital infrastructure, and the synchronous operation of platforms supporting enterprises in accounting, taxation, human resource management, and finance.
He emphasised the need for establishing credit guarantee mechanisms and specialised lending for innovative startup projects based on technology and intellectual property; developing national, local, state-owned, private, academic, and public-private partnership venture capital funds; and effectively operating a dedicated stock exchange for innovative startups. – BERNAMA
