Vietnam Innovation Challenge 2022

Vietnam Innovation Challenge 2022 will focus on four tasks: Improving the governance capacity of SMEs through increasing production and business efficiency and expanding revenue from new business models, strengthening links between foreign-invested and domestic SMEs, supporting Vietnamese SMEs to grow strongly to improve their position in the global value chain, and reinforcing connectivity and the effectiveness of policy dialogue between the government and businesses.

Minister of Planning and Investment Nguyen Chi Dung said, “The Vietnam Innovation Challenge will be a strategic programme searching for innovative solutions from around the world to help the country address major challenges and achieve prosperous and sustainable development. We call for cooperation between the public, the private sector, and domestic and foreign partners to jointly form, test, and implement innovative initiatives for the prosperity of Vietnam.”

Rafael Frankel, director for Public Policy for South and Southeast Asia at Meta Group said, “Vietnam Innovation Challenge 2022 is a testament to Meta’s commitment to the government and businesses in Vietnam to promote innovation and digital transformation activities in the country. We believe that the solutions offered at the programme will strongly fuel the digital transformation process and improve the competitiveness of more than 800,000 small- and medium-sized enterprises in Vietnam.”

Vietnam Innovation Challenge is an annual programme within the framework of the Vietnam Innovation Initiative initiated by the Ministry of Planning and Investment, the Vietnam National Innovation Centre with the companionship of technology corporations, and domestic and international partners to promote innovation-based economic growth with new business models, products, and processes.

The programme aims to support the development of 500 innovative enterprises to lead the economy by 2030, as well as contribute to improving innovation capacity in the public sector at central and local agencies.

At the same time, Vietnam Innovation Challenge 2022 will promote and nurture a comprehensive innovation ecosystem in Vietnam, developing the country into an attractive destination for technology and innovation investors with the participation of 500 of the largest corporations in the world.

The public sector innovation index (PII) will contribute to strengthening innovation as well as promoting the development of the private sector and improving the competitiveness of the economy.

Vietnam is creating favourable conditions for startups and youth entrepreneurs to engage in innovation and make breakthrough developments, a recent forum has heard.

The Vietnam Innovation Network in Europe (VINEU) is the fifth sub-network of Vietnam Innovation Network, gathering Vietnamese intellectuals on the continent to support the National Innovation Centre (NIC) and Vietnam in its modernisation drive.

The National Innovation Centre will officially break ground on January 9, 2021, along with the organisation of the Vietnam International Innovation Expo 2021.