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Robust innovation for sustainable development
Updated: 12/3/2014 6:52:36 PM GMT + 7
Robust innovation will help the country to develop faster, more sustainably and to catch up with other countries in the region and internationally.
Deputy Prime Minister Vu Duc Dam: We should be confident of the innovative capacities in each of us. It is embedded in the Vietnamese nation. Photo:
Deputy Prime Minister Vu Duc Dam, Chairman of the Steering Committee of the "Low-income Oriented Innovation” Project shared his ideas with hundreds of international and national scholars and economists, and business communities at the 2014 "Low-income Oriented Innovation” Forum in the morning of November 26 in Hanoi.

The reforms starting in the 1980s have not only helped Vietnam to sustain the world’s second highest growth rate during the last 20 years, but more importantly much of the benefit has gone to poor and low income groups. While the average growth rate was below 7%, the living standards and income of the poor improved more than 9% in the same period. Many millennium development goals have been achieved.

However, such achievements do not distract the Vietnamese people from the fact that Vietnam is still a poor country, and less developed than other countries in the region such as Singapore, Malaysia, and Thailand, etc.

Deputy Prime Minister Vu Duc Dam has asked hundreds of participants the question of how Vietnam can develop faster and more sustainably.

"Many studies indicate various specific problems that each nation and economy has to address if they want to make big strides. But there is one thing in common—nations with vast innovative capacities and well functioning national innovative systems will not only move fast and sustainably, and gaining advantages, but also benefit their partners”, stressed the Deputy Prime Minister.

The Deputy Prime Minister visiting an exhibition booth during the break. Photo:

In Vietnam, the Government, organizations and businesses have made efforts to stimulate, encourage and make innovative ideas measureable, quantifiable and marketable products. But our national innovative system still contains many flaws. It is not meeting the requirements of the ongoing globalization in which each nation and country must make most effort to move ahead and win together or they will lag behind.

In order to improve the situation, in addition to benefiting from international support, Deputy Prime Minister thinks, that it is most important to motivate innovation in all areas and to involve the state, businesses and the public. The support of the state or any project to enterprises must always be combined with the aim of turning innovative ideas into concrete and profitable products.

"Despite our modest position we need to have confidence in ourselves, in the innovative capacities of each of us. The innovative dynamics is embedded in the Vietnamese nation. Let’s present new ideas with a great amount of confidence even if they seem strange, and let’s support such ideas.

Innovation will help Vietnam to make its contribution to solving very big problems of the humankind that many have believed not to be a job of poor countries before”, stated the Deputy Prime Minister.
The forum. Photo:
Participants exchanged and shared ideas, experiences regarding innovation and strengthening links of resources and network to support SMEs, research institutions, universities and individuals in research, innovation, technology development, wider application and commercialization, etc.

According to Ms. Victoria Kwakwa, the World Bank Country Director in Vietnam, low income oriented innovation is playing a vital role in reducing the rich – poor gap in many countries such as Brazil, China, and India, etc. 

"We truly believe that commercializing innovative ideas would provide the poor better access to technology and to support a rapid and sustainable poverty reduction”, said Ms. Kwakwa.


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