Private sector must lead Vietnam's innovation strategy, deputy PM says

A senior government official has stressed the importance of placing private enterprises at the forefront of Vietnam's innovation-driven development strategy. The deputy prime minister noted that businesses are uniquely positioned to understand market needs and translate technological advances into practical applications.

Enterprises play a multifaceted role in the innovation ecosystem, from identifying market demand and setting realistic development targets to investing capital and mastering new technologies. This positions companies as essential drivers of economic transformation, the official indicated.

Beyond research and development, businesses are responsible for organizing production systems and ensuring products reach consumers effectively. This end-to-end involvement allows enterprises to identify bottlenecks and optimize processes in ways that government agencies cannot replicate.

The government's emphasis on private sector leadership reflects a broader strategic shift toward innovation-driven growth in Vietnam. By empowering businesses to lead technological adoption and commercialization efforts, policymakers aim to accelerate the country's transition away from traditional manufacturing-dependent models.

This approach aligns with Vietnam's recent push to leverage artificial intelligence and technological innovation across sectors including healthcare, where such technologies have demonstrated potential to enhance service quality and operational efficiency.