Vietnam will provide incentives, money, and risk-sharing to Vietnamese innovation and digital transformation via investing in science and technology PPP projects.

Vietnam will soon improve its science and technology environment with public-private partnerships (PPP) and as part of this effort the country has a draft government resolution that will be effective 1 July.  The Ministry of Finance is getting the opinions regarding the proposed resolution, which is oriented on science and technology development, innovation, and digital transformation. Both domestic and foreign students and organizations participate in the new mechanism, which provides the opportunity to enjoy state assistance in terms of investment in research designs, digital and technological infrastructure, and the training of the appropriate tech workforce.

Among the key projects to be considered as subject to PPP investment were data platforms meant to advance national scales, systems of digital government, and high-performance computing centers. State investments in science and technology ventures can go as high as 70 percent and cover the development of sites and the infrastructural investments.

There are other benefits as well with the projects that resonate with strategic national objectives having access to science and technology development funds developed by the government. The revenue risk-sharing model will also protect investors and shortages in the early commercial years will be covered by the state.

The project is a radical method of contributing to the digital evolution of the science and technology ecosystem in Vietnam so that innovation can emerge, cooperation between the government and the business sphere is possible, and in the long-term, the country can become innovative.