Hanoi, April 5 -- As Vietnam is entering a new era - the era of the nation's rise, together with science - technology development, and digital transformation, innovation is a strategic driving force that will help Vietnam make a breakthrough in a new development cycle.

Minister of Science and Technology Nguyen Manh Hung said that innovation involves promoting technological advancements in enterprises to increase labour productivity, mostly through preferential loans and tax reductions. Innovative startups are encouraged with new business models and technologies mainly via venture capital funds and regulatory sandbox mechanisms that allow staff to think, act, and boldly pilot new ideas and solutions outside the current institutional envir...