The documents presented at the Congress unanimously agreed that science, technology, innovation, and digital transformation must be the central driving force of development. At a time considered a "golden opportunity" for Viet Nam to make breakthroughs in this field, Viet Nam and Singapore are at a "ripe moment" to strengthen cooperation in innovation, aiming towards a green growth model, a high value-added economy , and sustainable development for the entire region.

Viet Nam's core strength in this field lies in its favorable demographic structure with a young workforce possessing sharp mathematical and technological (STEM) thinking skills – an essential foundation for innovation. Furthermore, its stable geopolitical position and the world's second-largest reserves of rare earth elements make Viet Nam a reliable destination in the supply chain diversification strategies of leading technology nations.

Assessing the strategic technology sectors that Viet Nam can focus on investing in, Associate Professor Dr. Duong Minh Hai (National University of Singapore) believes that Viet Nam needs to concentrate its efforts on three breakthrough areas. First is the Semiconductor Industry, focusing on design, packaging, and testing (ATP) to gradually participate, and eventually deeply integrate, into the global value chain. Next is Artificial Intelligence (AI) and Digital Transformation, delving into practical applications to solve specific problems in transportation, agriculture, healthcare, and national governance. Finally, and especially important given Viet Nam's unique characteristics, is Biotechnology and New Materials. This is a dual-use field, ensuring both food and healthcare security while directly serving national defense and security, helping Viet Nam become self-reliant in the face of future non-traditional security challenges. A policy of focusing resources precisely on these pillars will be key to Viet Nam escaping the middle-income trap through science and technology.

Singapore possesses extensive experience and strengths in science, technology, and innovation, particularly in its long-term investment strategy for research and development (R&D), its open innovation ecosystem linking universities, research institutions, and businesses, and its transparent legal environment promoting technology commercialization. It is also a leader in smart city development, digital infrastructure, green technology, and attracting international talent, serving as a model for national governance in the digital age, with its core strength lying in its ecosystem-building mechanisms.

The most valuable lesson Viet Nam needs to learn is the "Regulatory Sandbox" mindset – where the government proactively relaxes regulations to nurture new technologies before enacting formal laws. In addition, Singapore's strong collaboration between the "three stakeholders" (State-University-Business) has enabled the highly effective commercialization of research findings, transforming the "Lion City" into a destination for global venture capital.

To achieve sustainable development in the future, according to Associate Professor Dr. Duong Minh Hai, Viet Nam needs to promote strategic cooperation with Singapore based on two main pillars: Green Economy and Digital Economy. Specifically, the fields of Renewable Energy and Carbon Credits are top priorities. With its Net Zero aspirations, Singapore is "thirsty" for clean energy, while Viet Nam has enormous potential in offshore wind power. Cooperation in building a cross-border power grid and developing a carbon credit trading market will help Viet Nam attract a huge influx of green capital. Simultaneously, cooperation in Data Centers and Semiconductors will help Viet Nam leverage Singapore's position as a technology hub to enhance human resource capabilities and access global high-tech supply chains. This is a win-win situation: Singapore has energy security and digital resources, while Viet Nam has modern infrastructure and high-quality capital flows.

In the long term, to truly improve its technological level, Viet Nam needs to shift from commercial cooperation to a "knowledge co-creation" model. The optimal approach is to establish joint laboratories right in Viet Nam, but operating according to Singapore's R&D management standards. Through this, Viet Nam will not only receive core technologies, but more importantly, learn the process thinking from research to commercialization (know-how). Simultaneously, it is necessary to promote a "brain exchange" mechanism through rotational doctoral training programs, helping Viet Nam build a team of next-generation scientific leaders who meet international standards.

Against the backdrop of Viet Nam's push for green growth and high-tech industries, the two countries can strategically cooperate in areas such as green technology and emission reduction, advanced manufacturing and new materials, smart cities and digital transformation, port logistics, and biotechnology for healthcare and agriculture. These areas will help Viet Nam upgrade its value chain and Singapore expand its technological capabilities, creating mutually beneficial and sustainable advantages for both nations, thereby contributing to the long-term development of the ASEAN region.

Source: Tin Tuc News

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