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The Ministry of Science and Technology (MoST) is drafting criteria to recognise Vietnamese digital technology enterprises on par with those in advanced countries, part of efforts to implement Resolution 57-NQ/TW on breakthroughs in science, technology, innovation and national digital transformation.
The ministry said the aim of the criteria is to establish benchmarks for Vietnamese digital technology firms to strive toward, boosting their scientific and technological innovation capacity and supporting the country’s digital transformation.
Under the draft, a digital technology enterprise will be considered equivalent to international peers if it meets several requirements. First, it must be established or registered under Vietnamese law, have its headquarters in Vietnam and operate primarily in digital technology. For foreign-invested firms, the Vietnamese side must hold at least 51 per cent of the charter capital or voting shares.
Second, the enterprise must achieve minimum annual revenue of USD 1 billion in the most recent fiscal year.
Third, as of December 31, it must employ at least 5,000 workers.
Fourth, the enterprise must meet research and development (R&D) criteria. It must have at least one science and technology organisation operating under Vietnamese laws on science, technology and innovation, spend at least 6 per cent of annual revenue on R&D, and hold at least one patent granted by one of the five leading global intellectual property offices: USPTO, EPO, JPO, KIPO or CNIPA.
Fifth, the enterprise must have at least one branch or subsidiary abroad, preferably in countries advanced in science, technology, innovation or digital transformation such as the G7 nations, China, South Korea or Singapore and international market revenue must account for at least 10 percent of total annual revenue.
The criteria are expected to foster Vietnamese digital technology enterprises with strong financial capacity, advanced technological capabilities and high-quality human resources, comparable to leading technology companies worldwide.
The framework will also guide the government in prioritising and supporting firms that meet these standards, helping them grow into major corporations capable of tackling national-scale challenges, pioneering innovation and leading other Vietnamese enterprises toward collective development, ultimately forming a robust national digital technology ecosystem.
- (VNS/VLLF)
