Business

Vietnam businesses see weakness in technology

The competitiveness of Vietnamese businesses in technology is still weak. This is the conclusion of a seminar co-organised by the Danish International Development Agency and the Central Institute for Economic Management in Hanoi on May 8.
The competitiveness of Vietnamese businesses in technology is stillweak. This is the conclusion of a seminar co-organised by the DanishInternational Development Agency and the Central Institute for EconomicManagement in Hanoi on May 8.

According to asurvey, which the institute conducted on 8,000 businesses in Vietnam,although many businesses participate in activities to improve theirtechnological application, only five percent use their availabletechnology in production.

About 84 percent of respondents said their companies have no specific programmes to upgrade or develop technology.

Meanwhile, competition in production is extremely fierce. 78 percentof enterprises reported that they have domestic rivals while 36 percentsaid they have more than 10 competitors.

Experts atthe seminar said that to increase competitiveness in both domestic andinternational markets, businesses need to invest more in technology.

Besides, State management in science and technologyshould be further reformed and legal regulations on the issue should beperfected to speed up science-technology research and application,therefore contributing to enhancing the competitiveness of goods andbusinesses.-VNA
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