Enterprises honoured at the announcement ceremony of the most innovative firms of 2024

The event aims to raise awareness of the business community about the importance of innovation and innovation in the new economic period, as well as honour and promote the innovation and creativity efforts of Vietnamese businesses.

According to the announced results, Top VIE50 has the appearance of big brands such as Viettel, FPT, Vietcombank, Vinamilk, VNPT, BIDV, Vingroup, PetroVietnam, Masan Group, among others.

Truong Minh Tien, CEO of Viet Research, said that innovation played an important role for businesses in Vietnam, as it not only helps improve competitiveness through developing new products and services and optimising business processes, but also supports quick adaptation to market fluctuations and customer needs.

“Innovation also improves the quality of human resources and strengthens brand position, ensuring operational efficiency and sustainability in an increasingly harsh business environment,” Tien said.

According to Le Trong Minh, VIR's editor-in-chief, the business community's interest in innovation has helped Vietnam's Global Innovation Index 2023 be ranked 46/132 countries and territories, increasing five places compared to 2022. Vietnam is one of seven middle-income countries that have achieved the most progress in innovation over the past decade.

“Vietnam is also one of three countries with innovation results exceeding the level of development for 13 consecutive years. Vietnam's startup ecosystem has increased from fifth to third position among the top six economies in Southeast Asia," said Minh.

Nguyen Duc Hien, Deputy Head of the Party Central Committee's Economic Commission, said that Vietnam had many policies to promote innovation with the introduction of Resolution No.10-NQ/TW and Resolution No.52-NQ/TW.

Vietnam also established the National Innovation Centre, with the mission of leading and connecting to build a complete innovation ecosystem nationwide. However, the weakness is that the proposed policies have not yet been effective.

“There are still no guidelines related to policies to support small and medium-sized enterprises in the spirit of Resolution 10. Meanwhile, state-owned enterprises also lack legal corridors and mechanisms to promote innovation," Hien said.

He added that the businesses honoured in the Top VIE50, Top VIE10, and Top 100 products of 2024 would create important motivation for the Vietnamese business community and entrepreneurs to improve production and business efficiency, create a position in the market and contribute to the overall development of Vietnam.