Vietnam’s technology market may be new but it has prospered andpromises great potential as the technology and equipment traded haveconstantly increased, according to the Vietnam Economic News.
TheMinistry of Science and Technology’s data pooled from four technologyexchanges and techmarts - two common forms of technology market - showthe number of technology and equipment transactions last year reached5,482, up 33.5 percent from the previous year, reaching a total value of2.746 trillion VND (129 million USD).
Newly establishedtechnology exchanges succeeded beyond expectations. For example, the HaiPhong Technology Exchange established in 2008 has attracted nearly40,000 people to come to exchange scientific views and search forscientific products and technologies. Nearly 4,300 pieces of technologyand equipment information were registered for sales, while 300 contractsvalued at 380 billion VND were inked.
The Da Nang TechnologyExchange, five years after its establishment, has recorded 5,321domestic businesses and 153 foreign companies registering 7,754technology transactions. In addition, the Ho Chi Minh City and Hanoitechnology exchanges are also promising with daily huge transactionvolumes.
Technology and equipment markets are held periodicallyon national and international scales with much more enhanced linksbetween science and life.
The number of contracts signed inperiodical techmarts is increasing with average annual growth ratereaching 34 percent. Techmart 2005 attracted only 40 domestic andinternational companies, but Techmart 2013 attracted 225 domestic andinternational companies introducing 1,500 technologies and products andsigning 1,337 sales contracts worth of more than 156 billion VND.
Accordingto prime ministerial Decision 2075/QD-TTg approving the technologymarket development programme by 2020, the value of technologicalproducts and services traded will increase not less than 15 percent onan annual basis, while some high-tech products increasing by not lessthan 20 percent. The proportion of intellectual property transactions(including technical solutions, processes, and know-how) of the totaltraded value of traded technological products and services will increaseno less than 10 percent by 2015 and no less than 20 percent by 2020.
Manylocalities in the country are implementing technology exchange projectssuch as Thai Binh, An Giang, and Tien Giang. Universities are alsotending to boost the establishment of virtual technology exchanges suchas the Hanoi University of Science and Technology. Intellectual propertyoffices have been established in several research institutes such asthe Cuu Long Delta Rice Research Institute and the Institute of FoodTechnology.
According to Secretary General of the VietnamChamber of Commerce and Industry Pham Thi Thu Hang, Vietnameseenterprises have increasingly invested in science and technology withthe investment rate accounting for about 2.8 percent of total capital ofan enterprise.
In 2007, an enterprise only invested about 712million VND, but since 2010, the cost of technological innovation hastripled, reaching over 2 billion VND per year per enterprise. This willpromote technology market development in the future.
“It isnecessary to have a skilled workforce to be able to exploit thepotential of the technology exchanges. The human resources here includescientists and technology skilled workers who are able to evaluate andselect technologies, and connect inventors and businesses methodically,”said Pham Van Dien - Director General of the National Agency forTechnology Entrepreneurship and Commercialization Development under theMinistry of Science and Technology.
According to Director ofMinistry of Science and Technology’s National Office in the southernregion Bui Van Quyen, the establishment of technology exchanges isspontaneous with overlapping functions. Therefore, betterinstitutionalised management models, as well as incentive mechanisms andpolicies should be created to facilitate technology development.-VNA
TheMinistry of Science and Technology’s data pooled from four technologyexchanges and techmarts - two common forms of technology market - showthe number of technology and equipment transactions last year reached5,482, up 33.5 percent from the previous year, reaching a total value of2.746 trillion VND (129 million USD).
Newly establishedtechnology exchanges succeeded beyond expectations. For example, the HaiPhong Technology Exchange established in 2008 has attracted nearly40,000 people to come to exchange scientific views and search forscientific products and technologies. Nearly 4,300 pieces of technologyand equipment information were registered for sales, while 300 contractsvalued at 380 billion VND were inked.
The Da Nang TechnologyExchange, five years after its establishment, has recorded 5,321domestic businesses and 153 foreign companies registering 7,754technology transactions. In addition, the Ho Chi Minh City and Hanoitechnology exchanges are also promising with daily huge transactionvolumes.
Technology and equipment markets are held periodicallyon national and international scales with much more enhanced linksbetween science and life.
The number of contracts signed inperiodical techmarts is increasing with average annual growth ratereaching 34 percent. Techmart 2005 attracted only 40 domestic andinternational companies, but Techmart 2013 attracted 225 domestic andinternational companies introducing 1,500 technologies and products andsigning 1,337 sales contracts worth of more than 156 billion VND.
Accordingto prime ministerial Decision 2075/QD-TTg approving the technologymarket development programme by 2020, the value of technologicalproducts and services traded will increase not less than 15 percent onan annual basis, while some high-tech products increasing by not lessthan 20 percent. The proportion of intellectual property transactions(including technical solutions, processes, and know-how) of the totaltraded value of traded technological products and services will increaseno less than 10 percent by 2015 and no less than 20 percent by 2020.
Manylocalities in the country are implementing technology exchange projectssuch as Thai Binh, An Giang, and Tien Giang. Universities are alsotending to boost the establishment of virtual technology exchanges suchas the Hanoi University of Science and Technology. Intellectual propertyoffices have been established in several research institutes such asthe Cuu Long Delta Rice Research Institute and the Institute of FoodTechnology.
According to Secretary General of the VietnamChamber of Commerce and Industry Pham Thi Thu Hang, Vietnameseenterprises have increasingly invested in science and technology withthe investment rate accounting for about 2.8 percent of total capital ofan enterprise.
In 2007, an enterprise only invested about 712million VND, but since 2010, the cost of technological innovation hastripled, reaching over 2 billion VND per year per enterprise. This willpromote technology market development in the future.
“It isnecessary to have a skilled workforce to be able to exploit thepotential of the technology exchanges. The human resources here includescientists and technology skilled workers who are able to evaluate andselect technologies, and connect inventors and businesses methodically,”said Pham Van Dien - Director General of the National Agency forTechnology Entrepreneurship and Commercialization Development under theMinistry of Science and Technology.
According to Director ofMinistry of Science and Technology’s National Office in the southernregion Bui Van Quyen, the establishment of technology exchanges isspontaneous with overlapping functions. Therefore, betterinstitutionalised management models, as well as incentive mechanisms andpolicies should be created to facilitate technology development.-VNA
