An artist's rendering of the National Innovation Centre in Hà Nội. — Photo courtesy of the Ministry of Planning and Investment

HÀ NỘI — Construction of the National Innovation Centre (NIC) began in Hà Nội on Saturday along with the opening of an international exhibition displaying leading innovations.

Addressing the event, Prime Minister Nguyễn Xuân Phúc said innovation has become the key to success and plays an important role in socio-economic development strategies pursued by most nations and territories.

The Party and State are aware of the decisive role of innovation in renewing the growth model and creating a firm foundation for maintaining high and sustainable growth and generating quality jobs, the PM said.

With the rapid development of the fourth Industrial Revolution, the country must swiftly adapt and take firm steps to implement a plan.

He highlighted the country’s achievements in 2020, saying Việt Nam has received recognition as a dynamic economy in Asia, with an annual GDP growth rate of 6.3 per cent over the past decade.

Last year, Việt Nam was one of the 16 most successful emerging economies thanks to its pandemic prevention and economic recovery efforts. This was evidenced through positive growth of 2.9 per cent, making Việt Nam one of the countries to record the highest growth rate in the world in a year marked by recessions.

The PM attributed the success to the country’s efforts in applying technological advances to production and business activities, serving to create added value for the national economy.

As part of the strategy to turn the country into a developed and high-income nation by 2045, the year marking the 100th anniversary of the country’s independence and foundation, PM Phúc said Việt Nam must rely on knowledge, science, and technology, especially innovation, all of which can be considered important factors for growth.

Most notably, the use of new technology coupled with suitable human resources that will be the decisive factor for long-term growth, the key to achieving development breakthroughs, and helping the country escape the middle-income trap, said PM Phúc.

Prime Minister Nguyễn Xuân Phúc (fifth from left) and other Cabinet members pressed the symbolic button to launch the start of the construction of the National Innovation Centre in Hà Nội on Saturday. — VNA/VNS Photo Thống Nhất

He expressed his great appreciation for the Ministry of Planning and Investment’s initiative to organise the innovation exhibition to promote the central role of enterprises in the innovation ecosystem and express Vietnamese desires to be a regional innovation destination.

The Prime Minister said the commencement of the National Innovation Centre project will create an ideal condition for the local innovation ecosystem to develop and reach across the globe. He also expressed his hope that the centre will soon come into operation to become a pioneering model that can be promoted nationwide.

Meanwhile, Minister of Planning and Investment Nguyễn Chí Dũng said the NIC aims to host domestic and foreign technology firms and provide the optimal infrastructure system for the research and development of technological and start-up ideas.

He added that the centre will support connection and promote investment, speeding up the commercialisation of technological products.

He said the NIC will help facilitate the formation of innovative centres in localities and regions, making important contributions to the restructuring of the economy and the transformation of the country’s growth model, improving the efficiency and competitiveness of the Vietnamese economy.

Approved by the Prime Minister in 2019, the National Innovation Centre (NIC), worth VNĐ740 billion (US$32 million), is located in Hoà Lạc Hi-tech park on the outskirts of Hà Nội.

The centre, covering 35 hectares, is set to support and develop the nation’s start-ups and innovation ecosystems.

It is expected to house domestic and international innovative businesses, laboratories, offices of large corporations, as well as the working place of leading experts and scientists.

The Việt Nam International Innovation Expo, the first of its kind, has attracted the participation of 113 local businesses, 22 foreign-invested firms, and 21 institutions to showcase new products and technology models across 156 booths. VNS