The 14th National Party Congress: Steering Toward Long-Term Cooperation and Innovation
As Vietnam stands on the brink of a transformative era driven by innovation, the 14th National Party Congress is positioning itself to redefine the nation’s developmental strategies. The Congress is primed to serve as a platform for fostering deeper cooperation between the government and the overseas Vietnamese community. The emphasis lies in integrating overseas entrepreneurs and experts at the earliest stages of policy and project design.
Strategic Shifts in Economic Approach
The shift from a development model reliant on low-cost labor to one that emphasizes productivity, quality, and competitiveness marks a significant transition. Tran Ha My, Director of the Vietnam Innovation Network in France (VINEU France) and President of the Vietnam Young Entrepreneurs Association in Europe (VYBE), articulates this strategic pivot as a crucial step forward amid a rapidly changing global landscape. Countries and companies that thrive long-term are those that prioritize science, technology, innovation, and the high-value industries intertwined with them.
For example, innovation hubs like Paris-Saclay in France showcase the benefits of strong collaborations involving government, businesses, research centers, and universities. This model serves as a potential blueprint for Vietnam’s future, allowing for the establishment of new growth pillars that gradually reduce reliance on labor-intensive sectors.
Focus on Emerging Technologies
Interest from French and European partners in Vietnam is increasingly gravitating toward sectors such as digital technologies, renewable energy, and aerospace. This trend not only validates the strategic orientations laid out by the Congress but also highlights their alignment with current global investment patterns. The imperative is to attract investments into areas that promise significant returns and sustainable growth.
Building Institutional Trust for Young Entrepreneurs
For young entrepreneurs, the crux of the issue transcends mere incentives; it fundamentally revolves around the need for institutional trust. Young Vietnamese entrepreneurs often operate in sectors that demand long investment cycles, high risk, and a stable legal framework—fields such as technology and the green economy. The current landscape of frequent regulatory changes raises apprehensions among startups wishing to relocate research and development centers back to Vietnam.
Notably, there exists a strong desire among overseas Vietnamese entrepreneurs to contribute positively to their homeland, but they require assurance and stability from the government to do so effectively.
Creating One-Stop Support Mechanisms
To engage this entrepreneurial spirit fully, Vietnam would benefit significantly from establishing effective one-stop mechanisms tailored specifically for overseas Vietnamese businesses and investors. Programs like Station F and Bpifrance in France exemplify the vital role governments can play in providing support, reducing market entry costs, and facilitating the growth of young enterprises.
Establishing similar platforms in Vietnam could catalyze capital flows, knowledge exchange, and innovative projects, thereby energizing the entrepreneurial landscape. These focal points would serve as conduits for collaboration and development, easing entry barriers for young entrepreneurs.
A Call for Private Sector Recognition and Policy Involvement
Vietnam’s younger generation of entrepreneurs seeks not only to invest but also to actively participate in the policymaking process. They possess the potential to experiment with new models and contribute to addressing key national challenges. Recognizing the value of the private sector and granting the freedom to innovate can create lasting momentum geared toward sustainable advancement.
Mechanisms that prioritize the needs of overseas Vietnamese young entrepreneurs—such as startup support programs or co-investment funds—are essential. By instituting a more open dialogue and a collaborative approach, the government can effectively harness the collective knowledge and experience of this community.
Leveraging International Expertise and Networks
Collaborative frameworks should highlight the unique advantages of the Vietnamese community abroad, particularly their understanding of international business environments and research ecosystems. This valuable insight can bridge the gap between Vietnam and leading knowledge hubs in Europe, paving the way for innovative endeavors and fruitful partnerships.
Initiatives that target cross-border investment advisory services and create regulatory “sandboxes” for technology companies will significantly enhance confidence and reduce entry costs for aspiring entrepreneurs.
Long-Term Cooperation for Sustainable Development
Ultimately, the success of this initiative hinges on the commitment of the 14th National Party Congress to articulate clearer orientations for developing long-term cooperation programs. By involving overseas Vietnamese entrepreneurs and experts in the early stages of policy and project design, Vietnam can pave the way for a sustainable future driven by innovation and collaboration.
For instance, in areas like high-tech human resource training and innovation ecosystem development, the overseas Vietnamese community could serve as a crucial bridge, facilitating better connections with innovation hotspots across Europe.
This structured discourse illustrates the pivotal role of the 14th National Party Congress in steering Vietnam towards a future of sustainable innovation and collaborative development, underpinned by the collective efforts of its overseas entrepreneurs.