Responding to trade competition, businesses are forced to innovate technology

Technological level and capacity are key factors to increase competitiveness. Photo: HD

In particular, in 2024, Vietnam will have three leading indicators in the world: High-tech Import Index, High-tech Export Index and Creative Goods Export Index (based on total trade). This is the first time the Creative Goods Export Index has reached the leading position in the world.

According to the Ministry of Science and Technology (MOST), Vietnam's economic growth in recent years has gradually shifted to relying on the strong application of science, technology and innovation, thereby helping to improve productivity, quality and competitiveness of enterprises.

Aware of the above issue, businesses also believe that recent trade competition between major economies has forced businesses to have essential solutions for technology absorption, technological innovation, and gradually move towards technological autonomy to overcome challenges and meet the increasing demands of the market.

Therefore, at the event "Techconnect and Innovation Vietnam 2024" organized by the Ministry of Science and Technology in coordination with the Hanoi People's Committee on September 30 and October 1, 2024, businesses brought new technology products to help apply to production and business in many industries, fields as well as social life.

For example, FPT IS Company Limited brought the ArchiveNex solution - Electronic archiving system, which not only meets the requirements of management and supporting archiving, documents but also complies with the electronic archiving orientation of the Law on Archives (amended) just passed by the National Assembly in June 2024. This system has been deployed to 5 archiving centers with more than 20 million pages of digitized documents.

Enterprises have brought new technology products. Photo: HD

In addition, the solution set for the new generation of Public Administration Service Center provides tools and utilities to support people to perform public services quickly, thereby contributing to promoting digital government, digital economy, etc.

In the manufacturing sector, Vietnam Engineering and Industry Group Joint Stock Company (Intech Group) brings comprehensive automation solutions to manufacturing plants, such as AGV self-driving vehicles, high-density semi-automatic warehouse systems, etc.

Mr. Hoang Huu Thang, Chairman of the Board of Directors of Intech Group, said that since 2020, the Company has established a Product Research and Development Center (R&D) to focus on improving techniques, technology and improving product quality. This not only helps the Company follow the path of innovation, but also helps increase customer confidence and create opportunities to access large corporations in the global supply chain.

In addition, many businesses in the fields of industry, construction, healthcare, etc. have also made technological innovations to meet the requirements of automation, green development, and increasing product value, etc.

Enterprises need to promote cooperation and seek partners. Photo: HD

However, to promote innovation and effectively apply high technology, enterprises said that there are still many difficulties and need support from functional agencies.

Regarding this issue, Mr. Ta Dinh Lan, General Director of CIE1 Construction and Industrial Equipment Joint Stock Company, also said that when introducing new technologies and new high-tech products, enterprises need time and strategies to convince customers and partners. Therefore, support policies need to be more long-term.

In addition, an issue raised by many enterprises is the problem of capital to invest in new products as well as upgrading infrastructure. Mr. Hoang Huu Thang shared that investing in research, development and trial production is very expensive, so many enterprises are still hesitant and hesitant to invest in innovation. Along with that are difficulties in accessing and cooperating with large corporations, as well as participating in the global supply chain.

Therefore, Intech Group's leaders recommend that management agencies need to have more specific policies and support to encourage and facilitate innovative enterprises; such as prioritizing the development of industrial parks and industrial clusters specifically for innovative enterprises, with appropriate land costs and preferential policies; at the same time, creating conditions for innovative enterprises to easily access and cooperate with large corporations, participating in the global supply chain.

According to experts, enterprises need to find opportunities and cooperate with universities and research institutes to promote technology transfer and apply research results to production and business practices.