Vietnamese enterprises have earmarked only 0.2-0.3 percent of their revenues for new technology compared to the rates of 5 percent in India and 10 percent in the Republic of Korea although they have known the importance of investments in this area, a local newspaper reported.
Speaking at a seminar on technological application, Duong Minh Tam, deputy head of Saigon Hi-tech Park’s management board, said that slow technological improvement and investments resulted in low productivity at local enterprises, according to the Saigon Times Daily.
The labour productivity in China, Thailand and Singapore was 1.7, 3.6 and 39 times higher than that of Vietnam respectively, he added.
According to Tam, the number of enterprises spending on modern equipment accounted for a mere 10 percent while up to 52 percent of enterprises use outdated technology.
Deputy Minister of Science and Technology Tran Van Tung, said for years enterprises had preferred spending on stocks and real estate to technology.
Tung said that Vietnam had 100 recognised scientific and technological enterprises whose annual revenue is around 60 billion VND each.
However, experts said the number of scientific and technological enterprises in Vietnam remained modest.
These enterprises’ main activities are to sell the products manufactured from commercialized studies and to perform scientific and technological duties.
Tam said that even in Ho Chi Minh City – the country’s economic hub, there were only 14 scientific and technological enterprises, which are poorly compared to the hundreds of thousands of enterprises operating here.-VNA
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