Vietnam's growth based on innovation and creativity: Prime Minister

Vietnam will welcome and make it easier for foreign start-up companies to operate in the country in all sectors, Prime Minister Pham Minh Chinh pledged  on June 25.

Vietnamese Prime Minister Pham Minh Chinh attends a workshop on innovation and start-up development on June 25. Photo: thanhnien.vn

Speaking at an innovation workshop during the 15th Annual Meeting of the World Economic Forum (WEF) in Dalian, Liaoning Province, China, Premier Chinh said that international start-ups are one of the key drivers of growth.

"Vietnam prioritizes building a self-reliant, independent and proactive economy that is deeply integrated globally, based on both domestic and foreign companies," he said.

"Startup companies help transfer technology and know-how to local partners, create healthy competition and accelerate innovation progress, promote international cooperation and accelerate the development of a knowledge-based economy," he added.

PM Chinh said innovation is the root of growth in the era of globalization and the Fourth Industrial Revolution, helping countries solve their own problems and enabling the world to achieve sustainability.

"Vietnam is very aware of the importance of innovation," he said.

According to the Prime Minister, Vietnam has taken efficient and practical measures to boost the startup community. Many policies are now in place to drive the growth of the digital, green, circular, and shared economy, especially in big data, cloud computing, artificial intelligence, and semiconductors.

Vietnam has also made many improvements in infrastructure and created a better environment for education and training. The government is taking the lead in public investment and mobilizing all resources to promote innovation and business start-ups. As a result, many international companies have come to Vietnam, such as Google, Apple, Intel and Nvidia.

The Prime Minister said the Vietnamese government is committed to five groups of solutions to improve investment conditions for startups, launch national incubation programs, help students start their own businesses, and support enterprises in their digital transformation.

"Vietnam will continue to upgrade infrastructure and policy frameworks to facilitate the growth of the startup community, accelerate training programs to create a high-quality workforce, and increase international support for innovation," he said.

At the workshop, the Vietnamese government leader shared Vietnam's experience in education and training, cybersecurity and data exploration, and touched on other global issues.