South Korea to Witness Expansion of Vietnam's Technological Sector through the Vietnam Innovation Network
Vietnam Innovation Network Boosts National Development
The Vietnam Innovation Network (VIN) is playing a vital role in Vietnam's national development, connecting overseas Vietnamese intellectuals, experts, and entrepreneurs to contribute to science, technology, innovation, and digital transformation.
At a recent meeting, Party General Secretary To Lam called for the strengthening of solidarity and mutual support to create a unified bloc capable of effectively contributing to the country's development. He expressed strong support for activities related to science, technology, innovation, and strategic technologies such as AI, semiconductors, and quantum technology.
VIN's contributions to Vietnam's development are manifold. The network provides policy recommendations to improve private sector development and innovation-related laws, assists universities and domestic enterprises in upgrading training quality and research capacity, promotes innovation startups and digital transformation, facilitates investment attraction and technology transfer, and supports government-led initiatives on digital infrastructure, AI, smart cities, e-commerce, and cloud computing.
With over 2,000 members across 22 countries, VIN represents a vital intellectual and technological resource for Vietnam’s ambitions towards a knowledge- and innovation-driven economy. The network's digital transformation efforts have been highly recognised by the Party leadership and government ministries.
In addition, industry experts have declared Vietnamese workers to be Vietnam's greatest advantage, which will be further supported by digital twin technology. The Party General Secretary has encouraged the network to proactively lead innovation initiatives, promote the transfer of knowledge and experience, and bring global excellence and advancements back to Vietnam.
Vietnam is reshaping its foreign direct investment strategy to prioritise high-quality, technology-driven, and sustainable projects, aiming to boost innovation, productivity, and national competitiveness in a changing global landscape. Notable efforts include the development of key laws, national strategies for the development of the semiconductor industry, proposals for an AI research and training centre, an international financial centre, and incubation programmes for innovative Vietnamese startups in South Korea.
Minister of Finance Nguyen Van Thang stated that this year marks a crucial point for Vietnam's aim to become a modern industrialized country with upper-middle income by 2030 and high-income status by 2045. The Ministry of Finance is requested to study mechanisms to boost investment in science, technology, and innovation.
The Vietnam Innovation Network, along with Vietnamese experts and entrepreneurs in South Korea, has made numerous valuable contributions to major national initiatives. The Party General Secretary has asked the Vietnam Innovation Network in South Korea to fulfill their role as a vital bridge between domestic and international innovation ecosystems.
The meeting was attended by Vietnamese experts and entrepreneurs in fields like economics, finance, banking, innovation, digital transformation, and strategic technologies. Notable events include the second meeting chaired by Party General Secretary To Lam with the Vietnam Innovation Network, the first one being held in the United States last year, and the expansion of the "Build for the AI Future" initiative by Google and the National Innovation Centre, aimed at bolstering Vietnam's startup ecosystem.
In summary, the Vietnam Innovation Network acts as a strategic bridge connecting international expertise with domestic needs, enriching Vietnam’s science and technology landscape, and propelling innovation-led economic growth and digital transformation.
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