A boost for innovative businesses

A fulcrum for businesses to boldly implement ideas

On December 22, 2024, the Politburo issued Resolution 57-NQ/TW on breakthroughs in science and technology development, innovation and national digital transformation (Resolution 57). The Resolution identifies growth based on science, technology, innovation and national digital transformation, which will create new space for development, in which enterprises are the center, the main subject, resource and driving force.

With many new breakthroughs in the mechanism of using talents, breakthroughs in thinking in managing state budget investment for R&D activities, risk acceptance mechanism... Resolution 57 is highly appreciated by the business community, being a fulcrum for businesses in the process of investing in science and technology and innovation.

Customers visit digital products of businesses in Hanoi. Photo: Cong Hung

Resolution 57 has clearly identified and accepted that investing in technology means accepting risks. This is a major barrier for businesses, especially state-owned enterprises or units using public investment capital. In addition, many technology businesses affirm that tax and infrastructure incentives in recent times have attracted domestic and foreign technology businesses. With Resolution 57, businesses will have more breakthrough policies to help them reduce costs, have more abundant resources, especially improve the quality of human resources, especially in new fields such as semiconductors and artificial intelligence.

General Director and Founder of SCS-SafeGate Smart Cyber ​​Security Company, Ngo Tuan Anh, acknowledged that Resolution 57 not only removed bottlenecks, but more importantly, created trust and motivation for hundreds of thousands of innovative businesses in Vietnam to confidently develop and grow.

Mr. Ngo Anh Tuan pointed out that startups, especially innovative businesses, need the market most to deploy their products and services. However, for startups and innovative businesses to participate in the market is not easy, because there are many conditions and barriers to overcome, especially regulations on deployment capacity, finance, etc.

These bottlenecks were removed when Resolution 57 was issued. The resolution mentioned a sandbox mechanism, which untied the hands of innovative startups. The sandbox mechanism for businesses to test new technologies under State supervision needs to set out specific criteria and conditions to ensure that any innovative business can participate in this construction and development process.

According to Mr. Nguyen Tuan Huy - Head of Digital Transformation Department of MobiFone Telecommunications Corporation, in the context of deep international integration, Resolution No. 57 is considered as "a breath of fresh air" creating opportunities for digital technology enterprises. The most notable point is that from having to use foreign solutions, there are still not many products and technological solutions Made in Vietnam, Resolution 57 helps to further promote the process of scientific and technological research and development, innovation and digital transformation when allocating 2% of GDP.

Vietnamese digital technology enterprises will have more opportunities to develop smarter solutions to serve all industries and fields, applying them to the production process of enterprises as well as people's lives.

The key to improving business productivity and quality

Deputy Minister of Science and Technology Le Xuan Dinh said that in recent times, the Government has directed units to urgently coordinate and remove barriers for enterprises to invest in science and technology and innovation. Up to now, the mechanism to support science and technology development for enterprises has mainly been implemented through the establishment of a science and technology development fund for enterprises. However, this fund is only suitable for large enterprises with large revenue and large sales to allocate enough percentage to establish. However, spending is still limited and constrained and will soon be removed in the draft Law on Science, Technology and Innovation.

However, in the implementation of Resolution 57, the Government submitted to the National Assembly for promulgation Resolution 193 dated February 19, 2025 on piloting a number of special mechanisms and policies to create breakthroughs in science and technology development, innovation and national digital transformation. This is a policy that will spread and provide appropriate support for small and medium-sized enterprises.

In addition, national science and technology programs, the National Technology Innovation Program, and the National Development and Technology Fund will also coordinate with businesses and associations to determine which subjects will receive incentives in matters related to technology development.

Deputy Minister Le Xuan Dinh also mentioned three key priorities for developing science and technology in enterprises. First of all, enterprises need to promote the application of science and technology, innovate production and business, and continue to support enterprises in digital transformation, accessing advanced technologies such as artificial intelligence, green technology, etc. to improve productivity, feasibility and competitiveness. This is the key for enterprises to improve productivity and develop according to the market.

Next, it is necessary to promote the development of a creative startup ecosystem and build a network of creative startup support centers. Finally, it is necessary to promote the digital transformation process in small and medium enterprises, supporting the application of digital technology platforms for production, business and e-commerce.

“In the coming time, the spirit of Resolution 57 will be spread, concretized, and institutionalized through Laws, especially the Law on Science, Technology and Innovation. We hope to continue receiving comments from small and medium-sized enterprises to perfect this mechanism,” Deputy Minister Le Xuan Dinh emphasized.

Source: https://kinhtedothi.vn/nghi-quyet-57-nq-tw-cu-huych-cho-doanh-nghiep-doi-moi-sang-tao.html