Science, technology and innovation are the key to help the private economy break through. However, bottlenecks in human resources, institutions, capital and infrastructure still hinder businesses. Promoting policy reform, developing innovation centers, national data alliances and expanding technology sandboxes are considered key solutions for the private sector to become the driving force of the economy.

The above content was shared in a ministerial-level dialogue session with the theme "Science, Technology and Innovation - The driving force to rise up" within the framework of the Vietnam Private Economic Forum 2025, which took place on the afternoon of September 15 in Hanoi.

1. The private economy in Vietnam is developing strongly

The dialogue session “Science, Technology - Innovation - Resilience to grow” focused on discussing the key role of science - technology, innovation and digital transformation in creating growth momentum for the private economic sector. Technology enterprises, startups and researchers discussed the opportunities, challenges and solutions for technology to become a launching pad for the private sector.

Vietnam's private economy made a clear mark through telling numbers: in 2024, it accounted for 43% of GDP, contributed 57% of growth, created jobs for 82% of workers and accounted for more than 53% of social investment capital. In the period 2011 - 2024, this sector grew by 6.3%/year, higher than the average of 5.48%.

Facing the country's new opportunities, new resolutions and policies in science and technology, innovation and private economic development are opening up many directions. The trend of digital transformation, application of new technology and international integration helps private enterprises have the opportunity to improve their competitiveness and expand the market. Policy dialogue forums create conditions for the voices of enterprises to be heard more.

At the topic, experts pointed out the major "bottlenecks" that are hindering the development of private enterprises, which are:

- Shortage of high-quality human resources. Enterprises have difficulty recruiting digital workers, skilled engineers and modern management teams.

- Barriers in institutions and administrative procedures when many regulations are overlapping and lack transparency, causing legal risks for enterprises.

- Difficulties in accessing capital, especially for small, micro and start-up enterprises, while credit guarantee funds and venture capital funds have not really been effective.

- Limitations in infrastructure and support ecosystem support. Lack of innovation centers, logistics costs remain high.

- Weakness in commercializing research when the link between institutes - schools - enterprises is still loose; policies on tax and intellectual property protection are not enough to encourage.

- Competition from the state-owned enterprise sector when still participating in small-scale projects, invisibly narrowing the development space of SMEs and startups.

The private economy in Vietnam is making strong strides

2. The State removes difficulties, supports and promotes private enterprises to access science and technology

The private sector is facing a "golden opportunity" to break through. A series of important resolutions have been issued, focusing on the development of science - technology and innovation in the private economic sector. Notably, Resolution 68-NQ/TW of the Politburo on private economic development. This Resolution is also linked to Resolutions 57, 59 and 66, creating a “four-pillar group” for national development. The state’s support has given strength to the technology business community.

State policies to promote science and technology

The Resolutions that were issued and implemented quickly demonstrate the Government’s spirit of “high determination, great efforts, and drastic actions”, gradually removing “bottlenecks” in policies and procedures, creating favorable conditions for businesses to make breakthroughs.

In the discussion session, many policy recommendations were made, notably the public-private partnership mechanism in research and technology commercialization, tax incentives for R&D activities and venture capital funds, “reverse ordering” for institutes and schools to address the practical needs of businesses…

Businesses need to seize opportunities, proactively innovate business models, boldly apply science and technology and digital transformation to make breakthroughs, and improve competitiveness. This is a long-term roadmap to help The private economic sector affirms its position, accompanies the Government in the process of building a creative, self-reliant and sustainably developed economy, bringing our country into a new era - an era of development, prosperity and strength.

3. Science and technology - the driving force for the private economy to grow

Science and technology play the role of "driving force" for the private economy to grow, helping businesses improve their competitiveness, optimize operations and create new values. The application of technology not only helps businesses survive but also helps them create breakthroughs in the market.

In the digital age, Meksmart is not only a technology solution provider but also a trusted companion, helping businesses seize opportunities, optimize operations and break through competition.

- Warehouse management system: MEKWMS - helps businesses automate the process of importing, exporting and inventorying goods, minimizing manual errors, optimizing storage space and increasing order processing speed.
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Meksmart technology solution system for businesses to break through

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With a comprehensive set of technology solutions, Meksmart not only supports businesses in better management but also promotes innovation, enhances competitiveness and international integration.

Meksmart not only provides software products but is also a strategic partner to help logistics businesses improve operational efficiency, reduce costs and enhance competitiveness in the market. Science, technology and innovation are the key to helping private businesses grow.

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