What does knowledge economy refer to? Is paving the way for the foundation and development of the knowledge economy one of the state policies on science and technology development in Vietnam?

What does knowledge economy refer to?

"knowledge economy" refers to an economy where knowledge, information, and technology play a central role in creating value, driving growth, and fostering social development. Instead of relying solely on traditional resources like unskilled labor, natural resources, or capital investment, the knowledge economy focuses on leveraging and applying knowledge and innovation to create high-value products and services.

(1) Characteristics of knowledge economy:

- Knowledge as the Main Resource: In knowledge economy, the most significant asset is not land, raw materials, or unskilled labor but rather the knowledge, skills, and creativity of individuals.

- Application of Advanced Technology: Information technology, artificial intelligence, big data, and automation are crucial in developing products, services, and optimizing production.

- Continuous Innovation: Businesses and nations develop through continuous research, innovation, and improvement to maintain a competitive edge.

- High Added Value: Products in the knowledge economy are not only based on physical materials but also on intellectual value, design, and creativity, such as software, financial services, scientific research, and advanced medical technology.

- Globalization and Connectivity: The knowledge economy facilitates global connections through information networks, the internet, e-commerce, and international research collaborations.

(2) Examples of knowledge economy

+ Technology companies like Google, Microsoft, Apple, and Tesla use knowledge to develop software products, artificial intelligence, and advanced technologies.

+ The healthcare sector applies genetic technology and artificial intelligence in diagnosis and treatment.

+ Online education platforms like Coursera and Udemy help disseminate knowledge widely.

+ The financial sector uses blockchain technology and big data to optimize transactions and market analysis.

The knowledge economy is an inevitable trend of the modern world, where people not only use knowledge to work but also create new values. Investing in education, scientific research, and technology is the key for nations, businesses, and individuals to succeed in this era.

What does knowledge economy refer to? (Image from the Internet)

Is paving the way for the foundation and development of the knowledge economy one of the state policies on science and technology development in Vietnam?

Under Article 6 of the Law on Science and Technology 2013:

State policies on scientific and technological development

The State shall implement following policies to ensure scientific and technological development is the top national policy:

1. Prioritize and gather all national resources for scientific and technological development; apply preferential treatment and incentives consistently to promote central role and driving force of science and technology for socio-economic development, ensuring National defense and security, environmental protection and improvement of the quality of people's life;

2. Develop areas of social sciences and humanities, natural science, technical and technological science consistently; attach the tasks of scientific and technological development to the tasks of socio-economic development, ensuring National defense and security; pave the way for the formation and development of knowledge economy;

3. Step up research and application of achievements of advanced and modern science and technology, research to master and create new technologies with the aim of innovating and improving technological level and competitiveness of the products;

4. Focus efforts on the investment and construction of material and technical bases with much importance attached to the areas of science and technology of priority and national importance; apply preferential treatment and incentives for development, training, attraction and effective employment of human resources;

5. Create favorable conditions for the development of scientific and technological market;

6. Encourage and create favorable conditions for businesses to make investment in science and technology activities, innovate and improve technological levels;

7. Encourage and create favorable conditions for scientific and technological associations, socio-political organizations, social organizations, socio—occupational organizations to participate in consultancy, social counter-arguments and science and technology activities;

8. Be actively involved in international integration on science and technology; increase national position in terms of science and technology in the region and in the world;

Therefore, paving the way for the foundation and development of the knowledge economy is one of the state policies on science and technology development in Vietnam.

What are the contents of scientific and technological activities in a higher education institution in Vietnam?

According to Article 3 of Decree 109/2022/ND-CP, the scientific and technological contents and plans in higher education institutions are specified as follows:

Contents of scientific and technological activities in a higher education institution include:

- Scientific and technological tasks at all levels, including programs, topics and pilot production projects, and other scientific and technological tasks;

- Intellectual property; application and transfer, and commercialization of scientific research and technological development results; science and technology services; manufacturing and business;

- Training and retraining to improve the qualifications of administrators and lecturers in scientific research;

- Development investment projects, research capacity strengthening projects, key laboratories, interdisciplinary and specialized laboratories, projects to improve scientific journals, projects to repair, procure, and maintain equipment, working facilities, digitize libraries and information infrastructure;

- Scientific researches of students, master’s students, postgraduate students (hereinafter referred to as students), researchers and public employees in public higher education institutions; full time staff and lecturers in private higher education institutions (hereinafter referred to as lecturers);

- National and international scientific and technological cooperation;

- Information and statistics on science and technology; standards, measurement, quality;

- Building an innovation startup ecosystem for lecturers, students, related organizations and individuals; establishing and promoting the operation of innovation and technology transfer centers;

- Finance for scientific and technological activities;

- Other relevant scientific and technological activities.

Higher education institutions develop long-term and annual science and technology plans according to the science and technology content in Clause 1 of Article 3 of Decree 109/2022/ND-CP and on the basis of the development strategy of the unit; objectives, plans and strategies for science and technology development of the State, ministries, ministerial-level agencies, Governmental agencies, provinces and centrally affiliated cities; the need for business cooperation and international cooperation to promote scientific, technological and innovative activities.