Connecting databases to develop the technology market

In the current context of global integration, linking technology supply and demand, and commercializing science and technology (S&T) products has become a vital link in forming a closed value chain that connects research, production, and the market. This endeavor, in turn, contributes to enhancing the effectiveness of S&T market development.

Nguyen Van Thanh

Director of the Center for Science and Technology Market Development Promotion, under the State Agency for Technology and Innovation, Ministry of Science and Technology (MOST), Nguyen Van Thanh, shared with a reporter from Dong Nai Newspaper and Radio-Television about the potential and opportunities for developing the S&T market nationwide and in Dong Nai province in particular.

Major opportunities to develop the science and technology market

The development of the S&T market plays a vital role in advancing breakthroughs in S&T, fostering innovation and digital transformation, and driving socio-economic growth at the local level. Could you outline the key components of Vietnam’s current S&T market?

- The S&T market plays a vital role in driving innovation, digital transformation, and improving productivity, product and service quality, as well as the competitiveness of Vietnam’s economy in general and of each locality, including Dong Nai, in particular.

At present, Vietnam’s S&T market consists of six main components including: state management agencies, responsible for building legal frameworks, policies, and creating favorable conditions for technology transactions; technology suppliers, including research institutes, universities, S&T enterprises, organizations, and individuals owning research and development (R&D) results, inventions, and technical solutions; technology demanders, such as manufacturing, processing, energy, and agricultural enterprises seeking to upgrade or innovate production processes, automate, or digitize operations.

Besides, there are intermediary organizations such as consultancy firms, brokers, valuators, appraisers, and incubators, serving as bridges for technology commercialization; financial and investment institutions, including S&T funds, innovation funds, venture capital firms, and banks that provide financial resources and share risks in technology innovation; data systems and digital platforms, which provide digital infrastructure, databases, and online trading platforms to connect technology supply and demand.

Currently, the State is shifting its role from “management” to “market facilitation”, focusing on improving legal frameworks, promoting supportive policies, investing in data infrastructure and digital platforms, and creating favorable conditions for stakeholders to interact and foster innovation nationwide.

Nguyen Van Thanh emphasizes that completing the institutional and policy framework, particularly the guiding documents for the Law on Science, Technology and Innovation and the amended Law on Technology Transfer, will create the conditions and opportunities needed to develop an efficient and sustainable S&T market.

What are the current potentials and limitations of Vietnam’s S&T market?

- Vietnam’s S&T market holds great potential, as enterprises are increasingly eager to upgrade technology. The legal framework and policies are becoming more complete, and the national and local innovation ecosystems continue to expand.

In particular, as the global economy rapidly shifts toward a knowledge- and technology-based growth model, S&T and innovation have become key drivers of productivity, quality, and competitiveness. Investment in high technology, clean energy, and new materials is receiving increasing attention. Digital transformation, along with the application of artificial intelligence (AI) and big data, plays a vital role in the development of the S&T market and in promoting overall socio-economic growth. These trends are creating significant opportunities for localities to develop their S&T markets, enhance international integration, and expand access to global technology markets.

Alongside significant potential and opportunities for development, Vietnam’s S&T market still faces several limitations. Technology transactions remain limited and fragmented. Most transactions are conducted directly and on a small scale, while the proportion carried out through technology exchanges remains low. The market has yet to operate fully in accordance with supply–demand mechanisms, making data collection and analysis challenging.

Additionally, intermediary organizations remain weak and under-resourced, lacking both capacity and personnel. Technology exchanges and brokerage agencies mainly focus on introducing technologies, without clearly fulfilling roles such as valuation, appraisal, consulting, and investment promotion. The number of consultants is limited, and their professional qualifications are not yet standardized. Furthermore, there is no shared database or synchronized connection platform among regions and localities, making it challenging to effectively link technology supply and demand.

The signing ceremony of a Memorandum of Understanding (MoU) on connection between technology supply and demand at Techfest Dong Nai 2025. Photo: Hai Quan

Toward an open, multi-dimensional technology market

What are the current trends in S&T market development?

- Vietnam’s S&T market is transitioning from a traditional technology supply model to an open, multi-dimensional, and connected technology market with exchanges that better meet growing demand. The trend toward marketization of innovation activities is becoming more common. Growth in high-tech sectors, including AI, the Internet of Things (IoT), biotechnology, clean energy, semiconductors, and new materials, is becoming the driving force of innovation, supported by numerous incentive policies. Furthermore, the driving force of the S&T market is shifting from a “state-managed” mechanism to a “state–enterprise–investor” co-governance model, where all actors jointly operate and develop the technology market. 

Vietnam is now transforming from a resource and labor-based economy to one founded on knowledge, data, and technology. The technology market stands at the center of the innovation ecosystem, serving as the meeting point of policy, enterprise, science, and investment.

How do you assess Dong Nai’s potential for developing its S&T market?

- With its strategic location in the Southern Key Economic Region, Dong Nai holds significant potential and advantages for the robust development of the S&T market. Following the provincial merger, Dong Nai's economic space has expanded, creating additional room for technology transactions, connections, and transfers. Its diversified economic structure, spanning industry, high-tech agriculture, and a dynamic services sector, forms a favorable foundation for the formation and expansion of the local S&T market.

Dong Nai has numerous promising sectors that can strengthen the connection between technology supply and demand, particularly in supporting industries, agricultural processing, renewable energy, new materials, and smart logistics.

In the coming period, the province should focus on developing and operating a comprehensive database on the technology market, regularly updating enterprise technology demands, and cataloging available technologies for transfer both within and beyond the province, in line with local industrial characteristics. It should also develop intermediary and consulting organizations specializing in technology brokerage, valuation, appraisal, and transfer; promote digital transformation in production; and build open data platforms to match technology supply and demand.

At the same time, identifying key enterprises capable of acquiring and mastering core technologies and intellectual property is essential. This endeavor will provide a crucial foundation for Dong Nai to capitalize on its advantages, foster innovation, and boost the productivity and competitiveness of the local economy in the upcoming phase.

Thank you very much for your insights!

By Hai Quan (interviewer) - Translated by Thuc Oanh, Minho