Unlocking Vietnam’s Innovation Potential: Overcoming Legal and Human Resource Challenges for Sustainable Growth

Vietnam’s technology industry is rapidly expanding, and the country has been recognized for its dynamic innovation ecosystem. According to Mr. Nguyen Manh Cuong, Vietnam has been ranked among the top countries in the world by prestigious rankings such as the Global Innovation Index. The government has also shown support for innovation through policies aimed at helping small and medium-sized enterprises adopt new technologies quickly.

However, there are still challenges facing Vietnam’s innovation ecosystem. Dr. Nguyen Thanh Binh emphasized the importance of a clear legal framework to attract capital for startups in Vietnam. Mr. Cuong highlighted the need for high-quality human resources and the fast-changing technology lifecycle, while Dr. Tran Viet Huan pointed out that Vietnam needs to establish a solid foundation and legal framework to support sustainable innovation.

From a business perspective, Ms. Lynn Hoang discussed the opportunities that new technologies like GenAI and blockchain bring to Vietnam. She noted that Vietnamese businesses have the potential to solve global problems with innovative products. Dr. Le Khanh Duy highlighted the need to retain local talents and make Vietnamese businesses appealing to technology experts in order to sustain the innovation ecosystem. Overall, experts stressed the importance of focusing on human resources and creating an attractive working environment for technology talents in Vietnam if it wants to achieve higher income levels through timely adoption of new technologies.