Leading experts from domestic and international agencies and organizations gathered today [December 10] in Hanoi to address challenges facing investment in Vietnam's science and technology as the country's public and private investment in this field is relatively low compared to the world’s average. 

The investment rate in this field is around 0.5% of GDP, almost five times lower than the global average sci-tech rate of 2.23%, the figure was released at the conference cohosted by Vietnam’s Ministry of Science and Technology (MOST) and the United Nations Development Program (UNDP) and funded by Australia’s Department of Foreign Affairs and Trade (DFAT).

To increase the rate and facilitate sci-tech investment in Vietnam, policymakers, experts, investors, and businesses explored barriers and opportunities to unlock private investment to accelerate the development and innovation in the country of 100 million people.

The country has enjoyed over three decades of uninterrupted economic growth to become a popular destination for private investors. However, socio-economic challenges remain, and the impact of the Covid-19 pandemic has slowed progress.

Against this backdrop, the Government of Vietnam has made a strong commitment to meet the Sustainable Development Goals (SDGs) by the 2030 Agenda through its National Action Plan 2030. Sci-tech and innovation are considered among the main drivers for socio-economic development in the country, as indicated in many regulatory documents, and are key enablers for achieving the SDGs.

Full feature: https://hanoitimes.vn/intl-experts-seek-ways-to-boost-vietnams-private-investment-in-science-technology-322575.html