HCM CITY — Turning technology from policy vision into economic impact will require Việt Nam to build stronger connections between government, business and research institutions, experts said on Sunday at the Open Innovation Day (OID) 2025 in HCM City.

The two-day event, themed “Technological Breakthroughs – Promoting Green and Digital Transformation,” has drawn policymakers, global investors, startups and major corporations to discuss how open innovation can power Việt Nam’s sustainable growth ambitions.

The discussions on the second day of the event focused on how to transform the country’s innovation ecosystem from fragmented initiatives into an integrated, results-driven network supporting the transition to a green economy.

Phạm Hồng Quất, director of the National Agency for Technology Entrepreneurship and Commercialisation Development (NATEC) under the Ministry of Science and Technology, said the country’s next growth phase would depend on “turning local resources into innovation capital.”

“Việt Nam’s most valuable assets are its young people, creativity and resilience,” he said. “We must connect these assets with science, technology and industry to build a truly sustainable innovation ecosystem.”

The ministry would continue to work closely with provinces and businesses to expand pilot programmes that connect technology startups with industrial partners and investors, he added.

Trust as foundation of innovation

Bùi Trung Hiếu, deputy director of the Open Innovation and Technopreneur Institute (OITI), said Việt Nam’s innovation journey must begin with trust – in government direction, business capabilities, and local talent.

“Technology and capital are important, but what drives innovation is trust,” he said. “Trust that policies will be consistent, that businesses can take risks, and that researchers can create real-world impact.”

OID would serve as a bridge linking government and the private sector to jointly tackle challenges in clean energy, digital transformation and sustainable manufacturing, he noted.

Since its establishment, OID has connected more than 140 CEOs and founders, 30 major corporations and 200 startups and small and medium-sized enterprises (SMEs).

The Open Innovation Challenge (OIC) platform under OID has launched several flagship programmes, including the Carbon Factor for Net Zero Future 2023, Industrial AI Challenge 2024, and Next Wave for Startups 2025, which have attracted hundreds of proposals addressing issues from carbon reduction to AI applications in agriculture and energy.

“Innovation must move beyond ideas to implementation,” he said. “We’re creating mechanisms that allow startups to pilot, test and scale their technologies with real corporate partners.”

Balancing digital and green goals

Experts from the Global Green Growth Institute (GGGI) warned that while technologies such as AI and cloud computing could help accelerate climate resilience, they also posed new sustainability challenges.

“AI and data centres are energy-intensive and require careful management to ensure they contribute to, rather than undermine, green goals,” said Juhern Kim, GGGI’s country representative in Việt Nam.

GGGI has helped mobilise more than US$300 million for green projects in Việt Nam and aims to channel billions more into renewable energy, smart manufacturing and green finance initiatives.

“We should prioritise potential winners – companies that can deliver both economic and climate impact,” Kim said.

OID 2025 features eight high-level panel discussions across two days, covering science and technology policy, AI ecosystems, blockchain, data governance, cloud computing, renewable energy, advanced materials and cross-border e-commerce.

Insights from the discussions will be incorporated into policy recommendations at the HCM City Economic Forum (HEF) 2025, to be held from November 24-30 under the theme “Artificial Intelligence for Growth.”

OID 2025 is initiated by NATEC under the Ministry of Science and Technology and co-organised by OITI, the Technology Incubation Center (TIC), and the Global Green Growth Institute (GGGI), with support from SoiHub, Saigontel, Qualcomm, Business Finland and WorkFlow. — VNS