Representatives from over 70 businesses in the central city of Da Nang were informed of incentives to the use of modern technologies during a local seminar on June 2.

A number of them mentioned difficulties in adopting technological advances, including high costs, lack of marketing skills and limited resources to monitor competition and the latest technology trends.

They shared that Vietnamese companies predominantly process and export raw materials using outdated technologies, resulting in low added value.

According to them, domestic firms also find it hard to access financial subsidies when they plan for technology adoption, partly owing to cumbersome procedures.

The Ministry of Science and Technology reported that 76 percent of firms are using assemblies dating back to 1960-1970, 75 percent of equipment has exceeded its intended lifespan, and hi-tech equipment is used by a mere 20 percent of businesses.

Participants called for all possible regulations to stimulate technology use, adding that micro-enterprises could financially contribute to local science-technology development foundations, making it easier to support the business community.

Representatives from the Technology Management Office under the municipal Department of Science and Technology underscored the need to train a contingent of qualified technical researchers and engineers in each business.

On top of that, funding for sci-tech research in training establishments should be increased and local science-technology development foundations should work closely with the Departments of Science and Technology nationwide to avoid overlapping research.

Yamazaki Mazak Vietnam and Mitsubishi Electric Vietnam also took the occasion to introduce their latest manufacturing technologies to participants.

The event was co-hosted by the municipal chapter of the Vietnam Chamber of Commerce and Industry (VCCI) and Yamazaki Mazak Vietnam.-VNA