Workshop discussed criteria for Vietnam's innovative corporations

Studying on criteria of Vietnam's innovation corporations

On December 11-12, the National Innovation Center (NIC) of the Ministry of Planning and Investment (MPI) in collaboration with the German Agency for International Cooperation (GIZ) organised a hybrid workshop on criteria for innovative enterprise in Vietnam.

The report on a set of criteria for innovative enterprises conducted by NIC with the support of GIZ since the beginning of the year aims to determine the innovation level of each enterprise and serves as a basis for building business support programmes, honouring innovative businesses, and proposing policy incentives.

The resulting report gives insights into the development of innovative and economic entrepreneurs; definitions and measurement methods of entrepreneurship and innovation; analytical information on the general economic situation of Vietnam in the last decade period 2011-2020; criteria to evaluate and measure innovative enterprises, including research on international standards; and key findings and recommendations for regulators and policymakers.

The study not only focuses on the internal values of enterprises such as strategy, operations, customer care, human resource management, and leadership but also pays attention to a company's infrastructure and business environment.

Some of the findings clarify differences between the innovation ecosystems in more developed countries and Vietnam, including the quality and size of enterprises, skills development, infrastructure, business environment, and human resources. Moreover, the report offers separate evaluation criteria for Vietnamese innovative enterprises at an early stage, focusing on those that can lead them to success.

Speaking at the seminar, Vu Quoc Huy, director of the NIC said, "By defining innovation and detailing criteria for innovative enterprises based on international experiences, we can propose policy solutions to develop an ecosystem. The report is expected to act as a tool for domestic enterprises to promote innovation, and thereby improve labour productivity and the quality of products and services in the country.”

According to the NIC's roadmap, the criteria will continue to be surveyed and perfected to launch the annual Vietnam Enterprise Innovation Index and honour outstanding enterprises across the country.