Making State Economy a Driver of Innovation

The solution 79: the state economy called to play a driving role The leader of the Party emphasizes the role of the state economy and culture Action program for the implementation of Politburo Resolution No. 79 on the state economy Assertion of the role and expansion of the scope of action of the state economy The “super-machine” system of proton therapy MEVION S250-FIT, the first in Asia, has been successfully purchased by Tâm Anh Hospital, offering hope for effective, safe, and affordable cancer treatment for patients.

In recent years, significant changes have been observed in the private sector, which is actively entering high-tech segments with large-scale investments and international technical standards.

In the field of healthcare, in mid-February 2026, Tâm Anh General Hospital signed a contract with the leading American Medical Equipment Group Mevion for the purchase and technology transfer of the proton cancer treatment system MEVION S250-FIT, one of the most advanced in the world, for nearly 2 trillion dong.

Investment wave in high-tech by the private sector Recently, Vaccine Vietnam (VNVC) signed a contract with Syntegon Group for the acquisition of a high-capacity, highly automated, and modern vaccine production line from Germany for its new factory. At the same time, VNVC is expanding its cooperation with several major global vaccine and pharmaceutical companies to develop its capacity to absorb technology, train personnel and contribute to the establishment of a modern vaccine and high-tech pharmaceutical industry in Vietnam.

The common point of these decisions is an investment mindset from the start at the highest standard, with the goal of participating in the global value chain and achieving global standards. “We believe that this investment is not just about a factory but is an investment for national autonomy in a crucial area for public health, bringing value to the development of high-tech vaccine and pharmaceutical industry in Vietnam. That’s why we made every effort to access cutting-edge technology and equipment from the start,” expressed Nguyễn Chữ Đăng, Chairman of the Board of Directors and General Director of VNVC.

Investment in high-tech production line of Syntegon (Germany) officially placed the VNVC Vaccines and Biologics Factory among the world’s 20 most modern factories, possessing vaccine production technology equivalent to that of the major global centers.

Not only in the medical sector, many private companies are also heavily investing in robotics and automation. Phenikaa-X Joint Stock Company develops autonomous robots, AI-integrated service robots, and intelligent automation solutions for production and logistics. In the field of electric vehicles, VinFast is building highly automated production complexes incorporating robotic welding, painting, and assembly according to Industry 4.0 standards.

The main element here is not just “buying robots” or “importing modern machines.” The essential is the transformation of private companies to develop the capacity to operate high technology through process standardization, personnel training, data management, and digital system integration.

State-owned enterprises facing the need to transform to lead These movements clearly underline the requirements for state-owned enterprises. At the National Conference on the implementation of Resolution No. 79-NQ / TW on the development of the state economy and Resolution No. 80-NQ / TW on the development of Vietnamese culture, Secretary-General Tâm emphasized that the state economy must materialize into five main “pillars”, including a pillar to guide the private sector and a pillar to lead innovation and key technologies. If the state economy is strong in capital and assets but weak in technology, governance, and human resources, it will not be able to play a driving role in the new era.

Facts show that state-owned enterprises can succeed with appropriate mechanisms, with Viettel being an example. Since 2015, Viettel has been investing in 5G equipment research and development and in 2024, it obtained compliance certification for its in-house designed and manufactured 5G base stations. The company also exports its Private 5G system to India, placing Vietnam among the few countries capable of producing 5G network equipment. This is a real capacity of internal R&D, beyond the simple operation model of imported technologies.

The main obstacle for state-owned enterprises has long been in governance and investment mechanisms: capital and asset resources are limited by regulations; proactivity and competitiveness are weak, many business decisions requiring approvals that slow down opportunities; delegation level is insufficient, hindering rapid decision-making in a constantly evolving technological environment; difficult to establish responsibility mechanisms in case of R&D project failure.

Strengthening governance and reforming institutions to remove financial barriers is a prerequisite for effective technological investment. Without deep reform of financial mechanisms, delegation, transparency, and responsibility control, reform with significant resources, state-owned enterprises will struggle to keep up with the innovation pace required by the era.

Professor and Doctor Hoàng Văn Cương, former Vice-Rector of the National Economics University and member of the Prime Minister’s Advisory Council, emphasizes: “In innovation of management, especially governance of state-owned enterprises, we must accept risk, and the evaluation of enterprise efficiency must be comprehensive, not just on individual activities. Although this principle is enshrined in the law, it has not yet been translated into real operational mechanisms. This lack of preparation makes state enterprise managers hesitant to invest in high-risk areas like new technologies.”

Another major bottleneck lies in technology procurement and investment mechanisms. According to current regulations, state-owned enterprises must go through a public tender process for any purchase or investment, including new technologies. However, the tender process only allows for the selection of widely spread technologies, sometimes even obsolete because only these technologies can be compared. Truly new and pioneering technologies cannot be subjected to a tender process due to the lack of comparison references.

Thus, ordinary rules cannot be applied to innovation. New issues require unprecedented methods. For example, the purchase of new technologies can be done through a committee of experts and scientists, rather than a traditional bidding process. However, to prevent abuse, these special mechanisms must be made public before implementation to ensure transparency and oversight. If the operation fails, it is a publicly recognized risk, not intentional abuse.

Regarding governance, Professor Hoàng Văn Cương states: “For a state-owned enterprise to function effectively, the capital representative must have full decision-making powers, like a private manager. If every investment decision needs prior approval from hierarchical levels, opportunities are lost, and the manager’s rights and responsibilities are non-existent.”

Furthermore, Professor Cuong emphasizes that power delegation must be accompanied by clear control and evaluation mechanisms based on results. The state-appointed manager, responsible for assets and capital, must protect and develop value proportionally. If results exceed targets, he benefits from additional gains; if not achieved, his benefits decrease or are canceled. In case of losses exceeding forecasts, he is considered incompetent and must be revoked and investigated. Any abuse is punished.

Evaluation must be comprehensive, covering all activities, and over a sufficient period for the manager to implement plans. This mechanism allows the manager to fully exercise his powers and maximize fund efficiency, with strict supervision and quick sanctions to prevent losses.

According to Nguyễn Thị Thanh Thục, General Director of AutoAgri Software Technologies Joint Stock Company, the private sector, under competitive pressure, must innovate quickly, optimize costs, and standardize governance. This private audacity is both a positive signal and a benchmark for state-owned enterprises, showing that they can reach a global technological level if they have the will and appropriate mechanisms.

From here arises a strategic requirement: if the private sector has already invested heavily in the most advanced technologies at the operational level, such as proton therapy, automated vaccine production lines, or industrial robotics, then state-owned enterprises, with their resource advantages and positions in strategic sectors, must take even more initiative and play a central role in key technological points requiring long-term R&D and high risks. This includes digital infrastructure, new energies, semiconductors, defense industry, telecommunications, and artificial intelligence.

The “central” role in this new context must be understood in two dimensions. Firstly, central in key technologies of strategic sectors, thereby creating the foundation for the entire economy. Secondly, central in financial mechanisms, governance standards, transparency, clear delegation, associating accountability with results, and creating space for innovation. If one of these two dimensions is lacking, the central role will be limited to asset size and market share.

State-owned enterprises must focus their efforts on the innovation level, not to compete with the private sector but to truly become a strategic pillar and governance model for the entire economy.

Phuong Mai/CVN