Activate domestic market for science and technology products

"Launch pad" for Vietnamese technology products

Science and technology are identified by the Party and State as the “key” to participating in the global value chain. However, the domestic market has not yet played the necessary role of “support”. According to many experts, the lack of connection between research institutes – enterprises – the State has caused many research results to not be commercialized, not creating products to serve production and life in the country.

Meanwhile, Vietnam’s innovation ecosystem is increasingly vibrant. The country currently has more than 4,000 startups operating in many fields, 1,400 support organizations, 79 incubators, and about 170 universities and colleges with activities related to innovative startups. Total venture capital in 2024 will reach 529 million USD, showing the strong attraction of Vietnamese technology.

Scientific and technological products are expected to help Vietnam's production and trade sectors affirm their position in the market.

However, if scientific and technological products have not found a “place” in the domestic market, those impressive numbers are still not enough to guarantee sustainable vitality. Enterprises and associations all recognize that developing the domestic market is the true measure of competitiveness.

Ms. Truong Thi Chi Binh, Vice President and General Secretary of the Vietnam Association of Supporting Industries (VASI), analyzed that supporting industry products have high technology content, but it is difficult to access the domestic market, due to barriers in standards, information, and supplier selection habits of many businesses.

That partly shows that developing the domestic market is not only a matter of supply and demand but also a change in perception, a mechanism to encourage domestic manufacturing enterprises to trust Vietnamese technology products, gradually creating a closed circle from research, production, distribution to consumption.

Trade promotion opens market for technology products

According to Mr. Do Tien Thinh, Deputy Director of the National Innovation Center, innovation is only meaningful when it is linked to the market. If scientific and technological products do not reach domestic consumers and businesses, they cannot be considered successful.

In reality, many Vietnamese science and technology products are still in the experimental stage or are only applied on a small scale. Commercialization is still hindered by the lack of a government ordering mechanism, a lack of specialized distribution channels, and a lack of domestic trade promotion activities.

Trade promotion is an important "channel" to help expand the domestic market for science and technology products.

A positive point is that the Ministry of Industry and Trade has clearly defined the task of promoting domestic trade for science and technology products. The Trade Promotion Agency will closely coordinate with industry associations, innovation centers and localities to organize fairs, exhibitions and technology weeks in the country. This will be an opportunity for Vietnamese technology products to reach consumers, while finding partners in production and trade.

Associations such as VINASA (Vietnam Software and IT Services Association) and VASI have proposed that the State should develop a policy to prioritize the use of domestic technology products in public projects. This will not only help Vietnamese technology products have the opportunity to be tested in practice, but also create momentum for domestic technology enterprises to be more confident when entering the international market.

At the Government level, Prime Minister Pham Minh Chinh has repeatedly affirmed that developing the domestic science and technology market is a key solution to promote productivity, quality, efficiency and competitiveness of the economy . The Prime Minister emphasized that the ultimate goal of science and technology must be to serve the improvement of people's lives and the sustainable development of the country.

However, looking directly at reality, the mechanism for commercializing domestic science and technology products is still slow and has not made any breakthroughs. Technology exchanges have not operated effectively, the connection between supply and demand is still fragmented, and there is no strong enough distribution network. These are the “bottlenecks” that need to be removed if the domestic science and technology market is to truly develop.

To develop the domestic market, many experts believe that first of all, it is necessary to create trust for businesses and consumers in Vietnamese technology products. This trust comes from quality, from standard certifications, from practical experience. To do that, the State needs to have a mechanism to encourage and support new products entering the market, through bidding, ordering, or giving priority in public projects.

At the same time, it is necessary to promote scientific and technological products domestically. Technology fairs and programs “Vietnamese people prioritize using Vietnamese products” need to be expanded to the high-tech sector, not just consumer goods. This is the way for scientific and technological products to gradually become familiar and close choices in production and daily life.

For technology companies, the domestic market should be considered a “training ground” to perfect their products. Because if they are not successful at home, conquering the international market will be even more difficult.

Author: Hai Linh

Source: https://moit.gov.vn/tin-tuc/xuc-tien-thuong-mai/kich-hoat-thi-truong-trong-nuoc-cho-san-pham-khoa-hoc-cong-nghe.html