The statement was echoed by those attending at a seminar in HCM City on October 21, aiming to devise solutions to promote the development of science and technology.

Attendees said less reliance should be placed on the government for the overhaul and funding of the nation’s technologies.
 

At present, the State budget has spent on average just 2% investing in science and technology, which is a relatively high rate compared to other nations, said Mr Pham Ngoc Minh from the Ministry of Science and Technology.

However, the spending is mostly used for basic construction and not properly invested in scientific research and technology. Meanwhile, businesses have paid not or little attention to renovating research and technologies to sharpen competitiveness.

Therefore, businesses and relevant agencies in the country should co-ordinate in intensifying technological renovation to improve the efficiency of their operations at reasonable costs.

At the seminar, Swedish and Cuban experts also shared scientific research and technological innovations as well as introducing the technological renovation process in Latin America.