Prime Minister shares Viet Nam's vision for innovation at 55th WEF annual meeting

The conversation was held by the World Economic Forum (WEF) as part of the forum's 55th annual meeting in Davos, Switzerland on January 21 (local time).

Pham said Viet Nam is an attractive investment destination for foreign companies thanks to its remarkable economic achievements over the last 40 years of renewal process as well as its will and determination to grasp opportunities brought by the "smart era" to turn science and technology, innovation and digital transformation into resources to help Viet Nam achieve the goal of becoming a developed country with high income by 2045.

Pham emphasized that "smart era" is an era which is characterized by political stability, and rapid economic growth, an era where there is no war and no one is left behind. Particularly, such era must go hand in hand with the development of artificial intelligence and database.

To prepare for the smart era, Viet Nam plans to promote the perfection of institutions and laws to create favorable legal framework for fair development of all stakeholders in the multi-sector economy, said the Prime Minister.

He went on to say that the Politburo has issued Resolution No. 57 on breakthroughs in science and technology development, innovation and digital transformation to give a strong boost to investments in research and development.

The Vietnamese Government attaches importance to ensuring intellectual property rights in order to create a fair legal corridor for foreign tech companies, and is doubling efforts to increase investments in while mobilizing resources for transport infrastructure and smart infrastructure, Pham pledged.

He also said the Government plans to complete the construction of a national data center in June this year.

In recent years, Viet Nam has adopted institutions to encourage research and development and to mobilize resources for research and development, which has help the country to become an important partner for research and development cooperation of global tech giants like Samsung and NVIDIA.

Regarding measures to balance relations with both China and the U.S., Pham emphasized that Viet Nam remains steadfast to its foreign policy of independence, self-reliance, diversification and multi-lateralization, being a good friend, a trusted partner, an active and responsible member of the international community, all for peace, stability, prosperity and development.