Vietnam urged to promote innovation-based growth model

Phi Khanh 16:30, 2021/01/29

Vietnam strives to become a developed country with high income by 2045.

Vietnam needs to transform its current growth model into one based on science, technology and innovation to realize the goal of becoming a developed country with high income by 2045, said Mr. Huynh Thanh Dat, member of the Party Central Committee, Minister of Science and Technology while addressing the 13th National Party Congress on January 28 in Hanoi.

Mr. Huynh Thanh Dat. Photo: daihoi13.dangcongsan.vn

The capital-intensive growth model will no longer be appropriate as it confines Vietnam in the middle-income trap and hold back the country compared to other nations. As the fourth Industrial Revolution has become one of the development trends of the era, the country’s current growth model needs being transformed, Minister Dat said.

“The new growth model based on science, technology and innovation will improve the productivity and competitiveness of the economy and help develop the country more quickly, sustainably, independently, and soon reach the level of developed nations in the region and the world,” said Minister Dat.

The growth model based on science and technology will come true by fulfilling six missions, including: strongly promoting innovation activities so as to put science and technology at the service of the socio-economic development; perfecting institutions, policies and related laws, in which focus on building outstanding institutions and taking risks in science, technology and innovation activities.

“We should develop social sciences and humanities; closely linking social sciences and humanities synchronously with natural sciences, technical sciences and technologies for the rapid and sustainable development; continue to invest in developing and modernizing the infrastructure as well as scientific and technological potentials,” Minister Dat added.

Also, improving the operational efficiency of the national innovation system, innovative start-up ecosystem and developing new business models, digital economy and digital society would also be a key mission for transforming growth model, according to the minister.

The industry needs to proactively and actively coordinate with branches, levels and localities in promoting the application and development of science, technology and innovation to contribute to the economic development at all levels and localities, Minister Dat said.