08:26 (GMT +7) - Wednesday 21/11/2018


    On October 24, a day after the sixth session of the 14th National Assembly opened in Hanoi, the NA cast secret ballots to elect Party General Secretary Nguyen Phu Trong as the new State President of the Socialist Republic of Vietnam for the 2016-2021 tenure.

   During the sessions 24 working days, NA deputies will also review socioeconomic reports, including the results of the implementation of NA resolutions from 2015 to 2020 on socioeconomic development, economic restructuring, national finance and mid-term investment, and the 2019 socioeconomic development plan, national budget estimates, and national budget allocation.

   Prime Minister Nguyen Xuan Phuc has stressed that in 2019 the government will continue to consolidate the macroeconomy, control inflation, raise self-control in the economy, improve the investment and business environment, make practical changes in strategic breakthroughs, restructure the economy and transform the growth model, raise productivity, quality, efficiency and competitiveness, develop innovations and scientific and technological applications, and make full use of Industry 4.0.

   To prepare for Industry 4.0, Prime Minister Phuc has also approved a long-term strategy and vision on scientific and technological development and innovation, including Industry 4.0, to 2035. In order to become an innovation-based economy, however, Vietnam must continue strengthening its R&D.

   Many local enterprises have increased their investment in R&D and at the same time foreign-invested enterprises now view Vietnam as a favorable destination for R&D centers. When seeking the views of foreign enterprises for our Cover Story this month, it became quite dear that most are keen to bring R&D and innovation near their manufacturing bases in the country and obtain efficiency and cost savings. They are also attracted by incentives such as tax holidays or reductions, or exemptions from land lease fees and import tariffs.

   There are still challenges to attracting R&D investment in Vietnam, however, such as the lack of high-quality human resources and infrastructure.

   Having a foundation in R&D from multinational corporations will help Vietnam attract even greater levels of FDI. By creating a favorable business environment providing support, Vietnam can continue to attract R&D investment both locally and internationally and bolster its growth and development.

Editorial Staff

Professor Dao Nguyen Cat, Editor-in-chief

Mr Nguyen Quoc Uy, Deputy Editor-in-Chief, Head of Department of International Publications

Ambassador Nguyen Phu Binh, Deputy Editor-in-Chief

Ms. Ta Thu Trang, Managing Editor

Mr. John Harding, English language Editor

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