National Assembly discusses contribution of science and technology to growth

During the National Assembly question-and-answer session held on the afternoon of November 12, deputies raised the issue of measuring the contribution of science, technology, innovation, and digital transformation to economic growth. Minister of Science and Technology Vu Hai Quan shared the criteria studies carried out to determine this contribution and the Total Factor Productivity (TFP) targets.

In his question directed to Minister of Science and Technology Vu Hai Quan, National Assembly Deputy Bui Van Dung requested concrete solutions on how achievements in science and technology would reflect on labor productivity, public income, and the competitiveness of domestic enterprises. Minister Vu Hai Quan stated that the ministry has recommended the government establish 46 criteria to measure this contribution, 28 of which have already been compiled. He also noted that the TFP indicator has reached approximately 46% of GDP and is targeted to exceed 50% by 2030.

Taking the floor during the session, Deputy Nguyen Dang An expressed that small and medium-sized enterprises (SMEs) struggle to allocate funds due to financial capacity limitations and complex administrative procedures. Minister Vu Hai Quan stated that they are analyzing SMEs' reservations on this issue, working with the Ministry of Finance on the legal framework, and providing support through the National Technology Innovation Fund (NATIF) and South Korea-partnered artificial intelligence projects.