Innovation in enterprises in Vietnam - Current situation and solutions
Innovation is the core activity of enterprises to create new products, services or processes, improve operational efficiency and competitiveness in the market.
According to the Organization for Economic Cooperation and Development (OECD), innovation is the process of introducing continuously improved products or processes, thereby promoting development in production and business. The Law on Science and Technology of Vietnam 2013 also defines innovation as the creation and application of technical and technological solutions to improve the efficiency of socio-economic development, added value and productivity of products and services.
In the context of increasing globalization and regionalization, innovation has become an important “key” to help Vietnamese enterprises improve their competitiveness and adapt to the fiercely competitive market. However, in reality, the innovation process of Vietnamese enterprises still has many limitations due to the weak innovation ecosystem, insufficient support policies and poor awareness of the role of innovation. Therefore, assessing the impact and developing solutions to promote innovation are necessary to promote potential, contributing to improving the position of enterprises in the region and internationally.
To strongly promote this process, the Government and businesses need to have strategic thinking, choose appropriate models and actively participate in the innovation ecosystem. Connecting with the science and technology environment, adjusting policies, improving access and application of new technologies will help businesses overcome difficulties, quickly meet customer needs and develop sustainably. Thereby, Vietnam can completely become a regional innovation center and reach far in the international market.