Resolutions 57 and 68 are opening up opportunities to accelerate investment in technology and enhance capacity. However, greater policy clarity and closer coordination are essential to better support businesses. Gaps persist in R&D support policies Although several support policies are in place, businesses still face hurdles in technology transformation. In the current context, moving from outsourcing to high-value manufacturing is critical for Vietnam to elevate its economic standing. Investment in research and development (R&D) plays a decisive role in enhancing competitiveness and integrating into global value chains. However, support policies for R&D remain inadequate. Truong Sy Ba, chairman of Tan Long Group, said the company had to invest heavily in advanced preservation and processing technologies to access the Japanese rice market. However, high bank loan rates ranging from 8% to 10% remain a major obstacle for a low-margin industry like agriculture. In the textile and garment sector, Pham Van Viet, chairman of Viet Thang Jean (VitaJean), noted that while Vietnam ranks as the world’s third-largest exporter, most small enterprises still rely on traditional technologies and face stiff competition from China. For example, production costs in HCMC are around US$2.2 per item, compared to US$1.7 in China, where broader technology adoption […]
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