Creative innovation a new driver of growth

Amid Covid-19, science, technology, and innovation provided new solutions and effective tools for pandemic prevention and control and are being strongly applied to create and develop the “new normal”.

According to WIPO’s Global Innovation Index (GII) Ranking Report 2021, Vietnam ranks 44th out of 132 countries and territories. It is considered to have made significant efforts and progress, continuing to lead the group of countries with the same income level. In particular, it recorded a strong increase in rankings in a number of pillars.

Vietnam maintaining its position in the top 50 countries is significant given the pandemic. At the “Mark of Techfest and Whise 2021” program, Minister of Science and Technology Huynh Thanh Dat emphasized that changing to adapt safely and flexibly and effectively controlling the pandemic was indispensable.

Initiatives, solutions, projects, and innovative startups must take on a pioneering role in resolving socio-economic issues. Despite the pandemic, investment in creative startups in Vietnam last year increased by an unprecedented $1.3 billion.

This shows that sustainable, long-term investment in science, technology, and innovation will help businesses develop more sustainably in the face of non-traditional security challenges.

Experts emphasized that Vietnam still has a long way to go to further optimize the value of human capital to better absorb existing advanced technologies. Along with that, it is necessary to increase the proportion of investment to promote the development of innovation and startups.