Vietnamese companies not investing enough in science, technology

Managers and scientists at a meeting on comprehensive renovation of management mechanism in the field of science and technology held in Hanoi on Thursday concluded that only 1 to 3 percent of Vietnamese enterprises invested in research and development of advanced technology.

At the meeting organized by the Ministry of Science and Technology, participants said investments by Vietnamese companies in science and technology were far too low as compared to that of Indian and Korean firms who had investments of 5 and 10 percent respectively.

At present, the country has to spend a lot on importing many synchronized devices from foreign countries.

Over 1,000 small-scale enterprises work in the field of science and technology in the country. The ministry promised to find measures to promote scientific and technological activities amongst enterprises. Breakthroughs in science and technology management, organization and operations of socio-economic development are vital for the future.

Participants at the meeting petitioned policy-makers to create a mechanism whereby scientists can net a living from technological transfer to manufacturing activities. Furthermore, entrepreneurs should seek scientists for developing advanced technologies to raise competitiveness.

In addition, policy-makers must set up a strategy to appoint talented and leading scientists to work in projects in the field of science and technology.

By T. Luu - Translated by Uyen Phuong

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