Objectives of scientific and technological research and innovation

Decision No 569/QD-TTg the Prime Minister has specified objectives for the Strategy for development of science and technology and innovation by 2030.

By 2025, there will be 10,000 people for scientific research in Vietnam and technological development

Pursuant to Decision No.569/QD-TTg dated May 11, 2022 by the Prime Minister setting specific objectives for the Strategy for development of science and technology and innovation in Vietnam by 2030 as follows:

- To increase contributions of science and technology and creativity to economic growth through scientific research in Vietnam and technological development activities of research institutes and universities, technological renewal, management and organization capacity building in enterprises. Contribution of the combined factor productivity (TFP) to the economic growth rate of over 50%.

- Science and technology and innovation in Vietnam have played an important role in the development of key industries, focusing on manufacturing industry, contributing significantly to the restructuring of economy towards modernization, making our country a country a country with modern industry by 2030; actively and efficiently take advantage of trade advantages and opportunities of the fourth Industrial Revolution. By 2030, the proportion of value of high-tech industrial products in the manufacturing and processing industry reaches at least 45%.

- Science, technology and innovation in Vietnam contribute an important part to building and developing cultural, social and human values of Vietnam; provide scientific foundations for the formulation of development guidelines and policies of the country; contribute to the human development index (HDI) which is over 0.7.

- The global innovation index (GII) will be constantly improved and belong to the top 40 countries.

- By 2025, to invest in science and technology to reach 1.2-1.5% of GDP, with the total national expenditure for scientific research in Vietnam and technological development reaching 0.8-1% of GDP and social contributions to scientific research and technological development accounting for 60-65%. The total national expenditure for scientific research and technological development reaches 1% - 1.2% of GDP and the contribution of the society to scientific research and technological development reaches 65% - 70%.

Objectives of scientific and technological research and innovation

To attract and effectively use all resources for investment in science, technology and innovation in Vietnam

Pursuant to Decision No.569/QD-TTg dated May 11, 2022 of the Prime Minister on the task of attracting and using effectively all resources for investment in science, technology and innovation in Vietnam as follows:

- Ensuring expenditures for science and technology and innovation of 2% or more of the total annual State budget expenditure and gradually increasing according to the development requirements of the cause of science and technology. Ensuring expenditures for proper purposes for scientific and technological activities and innovation in Vietnam.

- Reviewing and removing barriers and limitations in order to increase the number and scale of enterprises' scientific and technological development funds; creating the maximum favorable conditions for enterprises to set up their funds, efficiently using the investment funds for scientific and technological activities and innovation in Vietnam; ensuring the percentage of deductions for scientific and technological development investment funds of state enterprises as prescribed by law.

- To perfect the public-private partnership mechanism, the legal corridor for tsunami investment, venture investment funds, community investment funds, digital capital raising technological foundations in order to mobilize more resources for investment in science, technology and innovation in Vietnam.

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