Unlocking private investment in science, technology, innovation development in Vietnam
The Ministry of Science and Technology, UNDP in Vietnam, and UNDP SDG Impact co-hosted a conference in Hanoi last week with policymakers, experts, investors, and businesses to explore barriers and opportunities to unlocking private investment to accelerate the development of science and technology (sci-tech) and innovation in Vietnam.
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.
However, Vietnam’s public and private investment in science and technologies is relatively low compared to the global average. At less than half a percent of GDP, investment rates are almost five times lower than the average sci-tech investment rate of 2.23%.
