Vietnam to work with US to develop start-ups on climate change, digital transformation: PM

Prime Minister Pham Minh Chinh addresses the forum (Photo: VNA)

Hanoi - Vietnam expects for start-up collaboration with the US on issues of global concerns such as climate change, digital technology and supply chain diversification, Prime Minister Pham Minh Chinh has said.

At a forum on innovation and start-ups held by Asia Society on May 17 (local time) in the US as he was on an official visit to the country, he also affirmed that Vietnam identifies science and technology, innovation and entrepreneurship as an important driving force for development in the new period.

The PM expressed his wish US partners will continue promoting cooperation activities, especially in innovative start-ups.

Startup collaboration between the two sides should focus on issues that are of global concern and the two countries are promoting cooperation, such as climate change response, digital transformation, technology transformation, and supply chain diversification.

He said the two sides should pay attention to innovation and start-ups movement among students and youths.

Agreeing with the PM’s global and all-people approach, representatives of various large corporations said they hope to have an insight into the Vietnamese Government’s policies of encouraging US companies to invest in Vietnam.

PM Chính said the Government is improving the mechanism and policies to welcome start-ups, adding that the country is rushing to prepare the infrastructure system like IT, big data, and train human resources to stand ready to welcome foreign investors to Vietnam.

Vietnam is in its development stage, so its need for capital is very large to solve new problems such as energy transition and climate change, the PM said, adding it is very eager to have cooperation from major financial institutions.

The forum on innovation and start-ups was held by Asia Society (Photo: VNA)

Human resources are the most valuable in digital transformation, the PM emphasised and proposed cooperation in improving the capacity and quality of this to serve the startup ecosystem, digital transformation, and innovation.

In addition, infrastructure related to science and technology development needs to continue to be invested and improved in quality to meet the development requirements.

Vietnam wishes to mobilise financial resources through public-private partnership, developing countries like Vietnam need to prioritise resources from developed countries, he said.