Current status of factors affecting firms‘ technological innovation decision in Vietnam

Abstract

This paper aims to reflect the current status of firm-level technological innovation in Vietnam, in particular the factors that affect technological innovation decision. The main research method employed is qualitative analysis, specifically descriptive statistics. The results show that about 31% of firms carry out product innovation and 46% of firms conduct process innovation. In addition, only about 25% of firms have trained staff and about 10% of firms have cooperated with agencies in technological innovation. The innovation environment and policies are still limited. Based on that, the authors propose policy suggestions: 1) Focus on increasing funding for firm technological innovation; 2) Strengthen the link between firms and partners; 3) Continue to promote programs and policies to support firm technological innovation.