Forum seeks to accelerate innovation in industry

Representatives of some 200 companies and associations gathered at Industry Innovation Forum 2022, themed “Smart Manufacturing”, held by the Board of Management of Saigon Hi-tech Park (SHTP) in Ho Chi Minh City on September 20.

It is the first time the forum has been organised, said Nguyen Anh Thi, head of the SHTP Board of Management.

It will be made an annual event for enterprises and experts to share experience and strengthen connectivity and partnership in accelerating innovation in industry in Vietnam, he noted, adding that this, therefore, will enable improved productivity and optimise operating costs and efficiency in use of resources.

Innovation and application of technology in production remain a major challenge for enterprises not only from Vietnam but globally, Thi said, emphasising that Vietnam can import technology but not innovation.

Vietnam sets to be among the world’s top 40 performers in the Global Innovation Index (GII) by 2030. It also aims to expand 5G coverage to the whole country and have the digital economy account for more than 30% of its GDP by the end of this decade.

It is seeking to develop a number of priority sectors, namely information technology, electronics-telecommunications, cyber security, smart manufacturing, finance-banking, e-commerce, digital agriculture, e-tourism, digital culture, health care, education and training.

During the forum, experts and business representatives discussed the prospect of industrial manufacturing in Vietnam and shared experience in leveraging technology to innovate the industry and maintain a leading position.

Last year, Vietnam’s digital economy hit US$21 billion, a year-on-year surge of 31%, making up 5% of the GDP. Google, Temasek Holdings and Bain & Co. forecast that the Vietnamese digital economy will enjoy an annual growth of 29% to reach US$57 billion in 2025.