Create a financial mechanism for technology innovation programs

On the morning of October 30 in Hanoi, the Ministry of Science and Technology in collaboration with the United Nations Economic and Social Commission for Asia and the Pacific organized an international workshop on "Experience in building national financial policy mechanisms to serve technological innovation activities."

The workshop attracted the participation of managers and experts from India, China, Korea, Malaysia and the Asia-Pacific Technology Transfer Center.

Deputy Minister of Science and Technology Chu Ngoc Anh emphasized that the Workshop is an opportunity for domestic and foreign organizations and enterprises to meet, exchange and discuss issues surrounding the development of financial policy mechanisms and support mechanisms for enterprises with technological innovation activities.

Illustration photo. (Source: nss.vn)

The information at the Workshop will help Vietnamese managers and policy makers gain more experience in proposing, developing and perfecting financial policies for technological innovation, contributing to the effective and synchronous implementation of the Ministry of Science and Technology's business support programs in the coming time. In particular, research institutes and businesses can acquire more knowledge and draw useful lessons for research activities and practical application in Vietnam.

At the workshop, experts from India, China, Korea, and Malaysia focused on exchanging and analyzing the outstanding features in the practice of financial policy mechanisms serving technological innovation of some countries in the Asia-Pacific region; different trends in the current status and goals of perfecting financial policies serving technological innovation activities to enhance the national and international competitiveness of small and medium enterprises.

The experts also introduced practical experiences of each country on financial policy mechanisms serving technological innovation activities; activities of the innovation fund for small and medium enterprises, the fund guiding venture capital for small and medium technology enterprises; assessed how to implement preferential lending activities, loan interest support, loan guarantees and the work of building apparatus, human resources, financial institutions... for Vietnam's technological innovation program, and affirmed that innovation is one of the important factors to create competitive advantages for solving problems as well as challenges of the times.

Chairman of the Asia-Pacific Center for Technology Transfer N. Srinivasan analyzed and clarified the key elements of the National Innovation System including national research and development strategy, science and technology center infrastructure, skills and human resource development, commercialization of research and development results, promoting venture businesses, technology incubators, science and technology information networks, etc.

Mr. N. Srinivasan also presented experiences and lessons for countries in the Asia-Pacific region on national technological innovation to build a national science and technology center innovation system policy framework with clear vision, strategy and priorities.

Currently, Vietnam invests about 0.7% of GDP (equivalent to about 700 million USD) in research and development, of which the Government accounts for 70%. Most enterprises use technology that is 2-3 generations behind the world average. The rate of investment in technological innovation of Vietnamese enterprises is only less than 0.05% of revenue...

Vietnam builds a national technology innovation program until 2020 with the goal: The number of enterprises implementing technology innovation increases by 10%/year; in the period of 2015-2020, it increases by 15%, of which 5% of enterprises apply high technology. 100% of enterprises producing key products, key products, and national products master technology, in the period of 2015-2020, enterprises create technology.

Forming a sustainable agricultural production model in each ecological region; in the period 2015-2020, forming a research group to apply and develop technology in each locality, a number of models in each province of the ecological region.../.

According to (TTXVN) - VT