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Economic News

Last updated: Wednesday, November 22, 2017

 

Business Innovation for Sustainable Development

Posted: Monday, November 06, 2017

Innovative enterprises, opportunities and challenges in achieving sustainable development goals were the main themes of a recent conference on innovation for social development in Ho Chi Minh City.

The conference was held by HATCH! VENTURES and the United Nations Development Programme (UNDP) as part of the HATCH! FAIR the Fifth - An annual start-up conference and technology fair of HATCH! and its partners. The event caught the attention of leading industry experts, founders and incubators as well as representatives from the Ministry of Science and Technology, the Ho Chi Minh City People’s Committee, UN agencies in Vietnam, UNDP representatives in Asia and the Pacific, the Australian Embassy, the Swedish Embassy, and other development partners.

Ms Pham Chi Lan, a leading economist in Vietnam, said that Vietnam's innovation system is very weak. “Vietnam needs to have a better innovation system to sustain future development and needs to advocate innovation-driven development, unlike what we have done to date - mainly relying on natural resources, crude exports or cheap labour. The private sector needs to account for at least 80 per cent of GDP, not 40 per cent as now.”

L.A








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