Deputy PM Vu Duc Dam underlines the significance of innovation to raise the national technological position and serve the national security and defense as well as socio-economic development. (Photo: T.H/Vietnam+)

(VOVworld) – The Ministry of Science and Technology held a meeting in Hanoi on Tuesday to review its activities in the previous year and to set missions for this year.

2015 is the final year of the 5-year plan for socio-economic, scientific and technological development and a margin year in the national strategy until 2020. The Ministry will focus on improving institutions and policies to boost science and technology innovation.

Addressing the event, Deputy Prime Minister Vu Duc Dam said the potential for science and technology could be the decisive factor in Vietnam shortening its development gap and safeguard national independence and sovereignty. Dam noted that to that end, businesses should be considered key to the technology renovation. He said: “the Ministry of Science and Technology should outline more practical policies for enterprises in terms of tax and credit so that they can recognize the importance of technological renovation. We should also improve the business environment so that social resources can be equally allocated.”