Innovation becomes core driver of national development: Vietnam PM

THE HANOI TIMES — Innovation has become the central engine of Vietnam’s development, driving entrepreneurship, mobilizing intellectual resources and ensuring that growth benefits society as a whole, Prime Minister Pham Minh Chinh said at the opening of TECHFEST Vietnam 2025 in Hanoi.

Speaking on the evening of December 13 at the national startup festival held around Hoan Kiem Lake, the prime minister stressed that innovation is no longer a slogan but a practical force shaping Vietnam’s socio-economic future,

"Innovation is helping the country respond to structural challenges ranging from the middle-income trap to environmental pollution and rapid urbanization," said Chinh.

The event, themed “National creative startups for new growth drivers,” is expected to generate new technological solutions with tangible socio-economic impact, according to the Government leader.

Chinh underlined the crucial role of promoting mass innovation and entrepreneurship in national development, helping Vietnam address challenges such as the middle-income trap, population ageing, environmental pollution and urban pressures.

"Open innovation acts as a vital bridge between economic growth and community welfare, underpinning Vietnam’s push for inclusive innovation and digital transformation," said the prime minister.

He noted that technology must be human-centered, as set out in the Politburo’s Resolution No.57 on breakthroughs in sci-tech development, innovation and national digital transformation.

"It is needed to ensure equal digital access for all, including young people, women and vulnerable groups, to support innovation, sustainability and inclusive growth," said Chinh.

He noted that sustainable development requires innovation, connectivity and inclusiveness, adding that open innovation gains its strength by linking community needs with startup capabilities so that “no one is left behind.”

Recommendations collected at the TECHFEST Vietnam 2025 will advance the open innovation ecosystem, promoting sustainability, inclusiveness and broad public participation in the national innovation agenda.

The prime minister appreciated the results of Vietnam's startup ecosystem, with nearly 4,000 startups and technology unicorns. "We are listed 44th out of 139 countries in the global innovation index ranking and Vietnam named among the top three fastest-growing startup ecosystems in the world."

Chinh also pointed out the major challenges facing Vietnam's startup ecosystem, including the gap with global peers and national position in strategic fields such as semiconductors, artificial intelligence and big data.

He also highlighted key challenges in Vietnam’s open innovation scene, such as limited data, weak collaboration structures, poor impact measurement and a shortage of skilled human resources.

He called on ministries, businesses, investors and the younger generation to strongly promote the entrepreneurial spirit, dare to think, act and accept risks and work together to build an increasingly developed national startup and innovation ecosystem.

A highlight of the opening ceremony is a digital art program recreating the image of Phu Dong - a symbol of the aspiration for rapid, strong and sustainable growth of the Vietnamese startup community in the digital age.

The Organizing Committee honored 10 localities for developing a startup ecosystem this year, and awarded commemorative plaques to the winning teams of the international Data for Life 2025 competition.