Hanoi (VNA) – A workshop titled ‘R&D, innovation and economic growth – Korean experience and lessons for Vietnam’ took place in Hanoi on August 1.

Participating experts focused their discussion on such topics as the Vietnam–Republic of Korea (RoK) cooperation in research and development amid the Fourth Industrial Revolution, as well as the innovation economy, and the RoK’s ICT policy.

Speaking at the event, Nguyen Dinh Cung, Director of the Central Institute for Economic Management (CIEM), which was the organiser of the workshop, said the revolution, IT and digital economy create both opportunities and challenges for Vietnam.

The country needs to grasp such opportunities, apply new IT technologies, and build a suitable business climate to overcome the challenges, he added.

Talking about the innovation economy and the RoK’s policy on ICT development, Park Seung Chang, Chairman of the Korea IT Ethics Leaders' Association (KITELA), said his country has maintained its first place in the 2019 Bloomberg Innovation Index.

According to him, last year, the RoK issued a five-year plan for 2019 – 2023 to boost artificial intelligence development, as well as ensure the human resources for the work, and investment in infrastructure for the growth of small- and medium-sized enterprises.

Chang-whan Ma, Executive Vice Chairman of the Korea Industrial Technology Association (KOITA), said amid changes in the global economy, Vietnam should develop high value added industries and boost its own capacity for improved production quality.-VNA