Stronger innovation ecosystem needed to achieve double-digit growth

Stronger innovation ecosystem needed to achieve double-digit growth

Experts agreed that science, technology, innovation and digital transformation should form the foundation of Việt Nam’s next growth model.

Nguyễn Đức Hiển, deputy head of the Central Party Committee's Policy and Strategy Commission, speaking at the event. — Photo nhandan.vn

It is critical for Việt Nam to accelerate institutional reforms, develop a highly skilled workforce and build a stronger innovation ecosystem linking the State, universities, research institutes and businesses in order to achieve double-digit economic growth, experts told a conference on Thursday.

Organised by the University of Economics and Business under the Vietnam National University, Hà Nội, the conference was held to announce its 2026 annual policy advisory reports and discuss measures to promote Việt Nam’s double-digit economic growth through science, technology, innovation and digital transformation.

Nguyễn Đức Hiển, deputy head of the Central Party Committee's Policy and Strategy Commission, said that for Việt Nam to achieve growth of 10 per cent or higher, it needs to shift towards a faster, more sustainable growth model driven by knowledge, science and technology, innovation and digital transformation.

Those factors are identified as core drivers of productivity, competitiveness and new value creation for the economy, Hiển said.

The transition, however, would require improvements in the institutional framework, stronger technology absorption capacity among enterprises, a more highly skilled workforce and more effective implementation of public policies, Hiển stressed.

Nguyễn Trúc Lê, rector of the university, said science and technology should become a direct productive force, while innovation should be transformed into a source of national competitiveness and digital transformation into a driver of productivity.

To translate research achievements, emerging technologies and innovative ideas into growth, jobs, income and improved living standards, Việt Nam needs a more effective innovation ecosystem, he said.

Experts, researchers and business representatives pointed to several obstacles to innovation-led growth, including limited technology adoption, gaps in digital infrastructure, weak links between research and industry and shortages of capital and skilled workers, especially among small and medium enterprises (SMEs).

Participants called for breakthrough institutional reforms, accelerated development of digital infrastructure and national data systems, and stronger cooperation among government agencies, universities, research institutes and businesses to enhance innovation and improve economic competitiveness.

Experts agreed that science, technology, innovation and digital transformation should form the foundation of Việt Nam’s next growth model.

The event also unveiled a series of three annual policy advisory publications for 2026 covering economic growth prospects and Việt Nam’s economic structure, innovation and digital transformation and national governance capability, and sustainable development and emerging economic models. —

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