Viet Nam, Australia to develop science, innovation connectivity strategy

On August 10 (local time), as part of the State visit to Australia, the Ministry of Foreign Affairs, the Ministry of Science and Technology, and the Ministry of Education and Training of Viet Nam, in coordination with the University of Technology Sydney (Australia), organized the Viet Nam - Australia Forum on Science and Technology, Innovation, Investment, Education and Training, and Human Resource Development.

General Secretary and President To Lam attended and delivered a speech at the forum.

In his keynote remarks, Minister of Science and Technology Vu Hai Quan proposed that the two sides focus resources on investing in areas of strength and strategic technologies, including artificial intelligence (AI), semiconductors, cybersecurity, quantum technology, biotechnology, clean energy, and, in particular, marine technology.

He emphasized that it is essential for each research project to establish a seamless chain of cooperation, from addressing market needs and testing to commercialization.

The two sides should continue developing the Strategic Technology Center into a shared platform, while connecting venture capital funds and technology financing sources so that outstanding inventions can move directly from laboratories to the market.

They should also step up cooperation in the digital economy and digital transformation, closely linked to promoting commercialization and connecting businesses with markets. The two sides should jointly select several sectors and specific businesses to implement digital transformation and AI application projects, particularly for small and medium-sized enterprises (SMEs).

Viet Nam and Australia have particularly favorable foundations for cooperation in education and people-to-people connections. Australia has strong universities and research institutions, while Viet Nam has a young engineering workforce, a rapidly growing technology sector, and a large Viet Namese intellectual community in Australia.

Speaking at the forum, Australian Assistant Minister for Foreign Affairs, Trade and Immigration Matt Thistlethwaite highly appreciated Politburo Resolution No. 57-NQ/TW on breakthroughs in the development of science, technology, innovation and national digital transformation. He said that advances in science and technology would help countries move forward and overcome the challenges ahead.

Within the framework of the Viet Nam - Australia Comprehensive Strategic Partnership and Australia's Southeast Asia Economic Strategy to 2040, the two sides are exploring more ways to cooperate and increase investment in science, research and innovation, while prioritizing bilateral initiatives that promote economic outcomes, social inclusion, sustainable development and environmental protection.

Speaking at the forum, General Secretary and President To Lam emphasized that the initiative was particularly significant in the context of the Viet Nam - Australia Comprehensive Strategic Partnership developing positively and becoming increasingly substantive, in-depth and effective, especially in areas that will determine the competitiveness and prosperity of both countries for decades to come.

General Secretary and President To Lam said that, for Viet Nam, developing science and technology, innovation, and high-quality human resources is no longer merely an option, but an essential requirement for realizing the aspiration of becoming a developed, high-income country by 2045.

The important policy decisions recently adopted by the Central Committee of the Communist Party of Viet Nam reaffirm the determination to renew development thinking, improve institutions, build an independent and self-reliant economy alongside deep international integration, further promote the private sector, and effectively attract international resources, particularly high-quality investment, advanced technologies, modern management expertise, and high-quality human resources.

Viet Nam is making a strong shift from simply attracting investment to pursuing cooperation for mutual development; from adopting technologies to co-creating technologies; and from participating in global value chains to gradually securing positions with higher added value within those chains.

Australia is one of the partners with strengths that Viet Nam particularly values and with which it wishes to advance together throughout its development process. The two countries possess strategic advantages and highly complementary strengths that naturally reinforce one another.

General Secretary and President To Lam expressed his desire to share a vision for a stronger, deeper and more strategic “new-type partnership” between Viet Nam and Australia in science and technology, innovation, and human resource development.

The two countries should move from cooperation to co-creation, from technology transfer to joint research and development, and from connecting individual organizations to linking their two innovation ecosystems. The goal is to build a regional innovation ecosystem where businesses, universities, research institutes and investment funds can connect, innovate and grow together.

General Secretary and President To Lam proposed that the two countries develop and implement a long-term strategy for connectivity in science, technology and innovation, considering it a new pillar of the Viet Nam - Australia Comprehensive Strategic Partnership.

The two countries should expand joint research programs and strengthen links among research centers, universities, businesses and innovation investment funds, while establishing joint research networks in priority areas such as AI, semiconductors, digital technology, biotechnology, quantum technology, clean energy, strategic minerals and the marine economy.

Viet Nam and Australia should promote two-way investment in high-tech industries and establish research and development (R&D) centers, joint laboratories, business incubation programs and commercially viable innovation projects. They should also develop financial support mechanisms for joint research, share research risks, and work toward co-development and co-investment.

Viet Nam encourages high-quality investment from Australia in the Viet Namese market, including the development of green financial products, digital infrastructure, data centers and innovation centers. The two sides should also strengthen technical assistance and experience sharing in developing Viet Nam’s International Financial Center.

The two countries should expand cooperation in training high-quality human resources, particularly engineers, scientists, technology experts and innovation managers. They should strongly encourage exchanges of students, postgraduate researchers and experts, closely align training and research with business needs, and promote bilateral mechanisms and annual forums for policy dialogue, experience sharing and partnership building, connecting the three key stakeholders of government, academia and business.