(VOVWORLD) - A conference was organized in Hanoi Wednesday to promote productivity for small and medium-sized enterprises in the context of the COVID-19 pandemic based on technological innovation and administrative regulatory reform.
 At the event (Photo: Thu Huong/VNA) |
According to the conference, businesses need to invest more in technology and innovation as the pandemic has forced them to narrow their production scale, cut down their labor force, or even temporarily suspend their operations.
Deputy Minister of Science and Technology Le Xuan Dinh said science, technology, and innovation have been and will be a decisive factor for Vietnam’s development.
“In recent years, Vietnam has spent 2 percent of the state budget on science and technology. In the past, 70% of the investment in science and technology came from the state budget. Now the figure is 50%. Enterprises are investing more in science and technology and the rate is increasing.”
The conference said enterprises need more support from ministries, agencies, and social organizations to improve their competitiveness and overcome the pandemic.