During a meeting with Vietnam's Deputy Minister of Science and Technology Vu Hai Quan in Hanoi on March 24, Ms. Mariam J. Sherman, the World Bank's Director for Vietnam, Cambodia, and Laos, announced that the bank is collaborating with Vietnamese agencies to develop a comprehensive investment program for the high-tech ecosystem, including research infrastructure, workforce training, and business connectivity.

She proposed investing in large-scale high-tech centers in key destinations such as Hoa Lac (Hanoi), Ho Chi Minh City, and Can Tho (in the Mekong Delta), with a requirement for synchronized implementation from infrastructure, laboratories, equipment to operational mechanisms. The focus is on connecting the ecosystem between the government, businesses, and educational institutions to foster the formation of highly concentrated innovation clusters that align training and research with market needs.

According to  Ms. Mariam J. Sherman, international experience, particularly in Asia, shows that innovation clusters linked with universities and high-tech enterprises can create breakthroughs in workforce development and commercialization of research results. She emphasized leveraging the global network to help Vietnam access technology, experts, and effective implementation models. Strengthening the role of the International Finance Corporation (IFC) is seen as a crucial approach to attracting resources from the private sector.

Ms. Mariam J. Sherman also pointed out several bottlenecks that need to be addressed, including laboratory operation mechanisms, resource utilization efficiency, workforce quality, and the sustainability of the three-party cooperation models (between the Government, businesses and educational institutions). 

Currently, Vietnam's spending on science and technology, innovation, and digital transformation accounts for about 3% of the total budget, with 15% allocated to strategic technology, yet it still does not meet practical requirements. The World Bank suggested that Vietnam quickly designate a technical focal point to accelerate preparation and implementation, while continuing in-depth technical and financial exchanges in the future.

Deputy Minister Vu Hai Quan, for his part, appreciated the World Bank's cooperation proposal. He also mentioned that Vietnam is actively developing proposals for the development of laboratory systems and strategic technology.

The Deputy Minister candidly pointed out obstacles in the implementation process, particularly the lack of synchronization between policy and execution. Although policy directions have been open, legal regulations still pose many barriers when concretized.

Regarding resources, spending on science and technology, innovation, and digital transformation currently accounts for about 3% of the total budget, with 15% allocated to strategic technology, yet it still does not meet practical requirements. Strategic technology programs often have large scales, requiring new approaches in management and implementation. Concurrently, the review and update of the high-tech and strategic technology list suitable for Vietnam's conditions are being completed, serving as a basis for investment and policy orientation. Issues such as the coordination mechanism between the state, businesses, and research institutes, risk acceptance in research, criteria for stopping ineffective projects, or developing venture capital funds for the commercialization phase are also raised.

Deputy Minister Vu Hai Quan affirmed support for the World Bank's approach in developing large-scale innovation centers, emphasizing the state's coordinating role in resource allocation and the need to effectively mobilize international capital. The Ministry of Science and Technology requested the World Bank to continue supporting Vietnam in institutional improvement, reviewing the strategic technology list, sharing experiences in implementing large-scale programs, as well as the operation mechanism of venture capital funds and the three-party cooperation model. The Ministry also acknowledged the World Bank's companionship in recent times, especially in the field of digital transformation, and expressed the desire to enhance expert support and effectively implement the high-tech workforce development program for the 2026-2030 period.