There remains vast untapped potential for Vietnam – China cooperation in sci-tech and innovation, and more need to be done to unlock it, heard a conference on technology transfer, trade and investment promotion held in Ho Chi Minh City on May 29.

The event was co-hosted by the Trade Sector Committee of the China Council for the Promotion of International Trade (CCPIT), the National Startup Support Centre (NSSC) under the Vietnamese Ministry of Science and Technology, and the Vietnam Innovation Hub Network.

NSSC Deputy Director Le Toan Thang described the Politburo’s Resolution 57, which focuses on breakthroughs in sci-tech, innovation, and national digital transformation, as a key driver of Vietnam’s rapid growth.

Vietnam attaches importance to deepening international cooperation to help domestic enterprises tap into global technological advancements for development, he said, adding that China, with a well-developed sci-tech, presents a promising market for Vietnamese firms seeking partnerships and access to advanced technologies and practical, effective technology transfer models.

The NSSC would continue to accompany and support cooperation activities in entrepreneurship and innovation, he said, stressing its commitment to facilitating meaningful connections between Vietnamese and Chinese enterprises, particularly startups and tech firms, to foster lasting and effective partnerships.

Wang Xi, Vice Chairwoman of the CCPIT Trade Sector Committee, noted that companies need to be equipped with robust skills, strong foundational capabilities, and most importantly, the support from key regulatory bodies in both countries.

Through practical activities, the CCPIT has organised numerous business trips to Southeast Asia, with Vietnam as a focal point, to build mutual understanding and lay the groundwork for long-term cooperation, she added.

It showcased a range of cooperation models, from traditional models to cross-border e-commerce, to create practical platforms for entrepreneurs to exchange ideas and build seamless resource-sharing networks.

Participating Chinese firms praised Vietnam’s improving business climate, citing stronger legal frameworks, competitive production costs, advanced infrastructure, and vibrant industries as catalysts for expanded collaboration in trade, investment, and innovation.

Dang Duc Thanh, member of the Vietnam Chamber of Commerce and Industry’s Executive Committee and Chairman of the Vietnam Economists’ Club, proposed establishing a Vietnam–China SME Alliance. Backed by the Vietnamese Ministry of Industry and Trade, the alliance would serve as a legitimate and essential bridge to help the two countries’ business communities move toward more effective and successful partnerships./.VNA