The technological factor remains weak.
During a roundtable discussion at the conference “Factors of double-digit economic growth and agricultural perspectives by 2026,” held on March 31st in Hanoi, Dr. Can Van Luc, chief economist of BIDV and member of the National Advisory Council on Financial and Monetary Policy, raised a pressing issue: Vietnam has significant potential in the application of science and technology, digital transformation, and innovation. However, there is a significant gap between words and actions, solutions and reality. How can this gap be bridged to truly drive the economy forward? This is a critical question that demands an answer.
Sharing his perspective on this issue, Professor Dang Ngoc Duc, director of the Institute of Financial Technology (Dai Nam University), stated that the Fourth Industrial Revolution (Industry 4.0) represents a crucial opportunity and engine for improving the Total Factor Productivity (PTF), an indicator of an economy’s “intelligence.” He cited China as an example: without science and technology, the country could not have rapidly become a formidable competitor to the US and the EU.
However, in Vietnam, the contribution of technological factors to growth has not met expectations due to various bottlenecks related to human resources and investment mentality.
One of the main obstacles, as highlighted by Professor Duc, lies in the mismatch of professionals’ skills. In the Fintech sector, technical experts often lack financial skills and experience, and vice versa. This shortage complicates the creation of technological products that are both safe and high-performing.
Furthermore, while the Party and the State have prioritized a budget of 25,000 billion VND for the development of science, technology, and innovation, a paradox has emerged: 80% of this amount is allocated to infrastructure and equipment, while investment in human resources—the agents of innovation—represents only a small proportion.
In educational terms, universities are striving to innovate their programs by adopting an Outcome-Based Education (OBE) approach, focusing on what students can “do” rather than just what they can “know.” However, recruiting for applied technology programs faces challenges.
“People are still not ready to step out of their comfort zone. They still prioritize traditional fields like business management and logistics instead of learning to apply technology to finance and banking—a sector that could generate exceptional growth,” explained Mr. Duc.
Experts recommend prioritizing in-depth and coordinated training. Instead of short 3–4 month courses focused on advertising AI and data, the focus should be on sharp technological solutions, such as applying AI to risk management, assisting farmers in profitably obtaining loans without collateral, and promoting financial inclusion.
Changing Perspective on Technological Applications
When it comes to discussing agriculture perspectives in 2026, experts believe that a shift in perspective on the application of technologies in this sector is necessary. Dr. Tran Cong Thang, director of the Institute of Agricultural Policy and Environmental Strategy, emphasized that the focus is currently on “superficial” technologies like drones or agricultural machinery. However, agriculture fundamentally relies on fundamental science.
To ensure sustainable development, Vietnam must invest heavily in genetic research, breeding, vaccine production technologies, and climate change forecasting systems. Traditional fields like pedology, water resource management, and fertilization also require continuous modernization.
“The main goal is self-sufficiency. Vietnamese agriculture must be self-sufficient in essential technological platforms at a national level and break free from any dependence on external sources,” Dr. Tran Cong Thang emphasized. Science should focus on the most concrete needs, helping farmers access the best seeds and suitable crop treatments.
Technology should also help end the imbalance between supply and demand and frequent emergency interventions in agricultural products. Through supply chain forecasting and management systems, commercial risks will be minimized, ensuring sustainable livelihoods for populations.
Professor Dang Ngoc Duc added that technology is essential for resolving trust issues in the international market. Currently, the export of Vietnamese agricultural products takes between five and eight years due to the lack of a transparent traceability system. Modernizing technological infrastructures will significantly reduce this time.
However, a psychological barrier persists, as farmers still lack full confidence in online credit and digital financing solutions. Therefore, it is necessary for the Farmers’ Association and relevant organizations to engage in spreading digital knowledge and creating an environment conducive to implementing technological solutions in rural areas.
4 Strategic Pillars and a New Growth Formula
Dr. Can Van Luc affirmed that to achieve the goal of becoming a high-income country by 2045, the economy has no choice but to strive resolutely to make breakthroughs in labor productivity and investment efficiency.
To materialize this aspiration, a shift in mindset must be based on four strategic pillars. Firstly, it is essential to continually modernize knowledge and technologies by providing rural workers with new platforms to move away from traditional agricultural concepts.
Secondly, strengthening the connection between the four stakeholders by creating a real connection between schools, the government, farmers, and businesses. In this framework, cooperatives should function as a new type of enterprise.
Thirdly, optimizing resources by harnessing the full potential of lands, finances, and practical human skills. Fourthly, prioritizing fundamental research, seen as the solid foundation for sustainable growth.
According to Dr. Can Van Luc, while our ancestors’ production experience was based on the principles of “Water first, then fertilizer, diligence, and seeds,” in the digital age to build the future and achieve rapid growth, the economy, particularly the agricultural sector, must add the vital element of technology.
Through concerted efforts, from policies to concrete actions, science and technology will no longer be a mere theoretical concept but a driving force propelling the Vietnamese economy towards double-digit growth in the near future.
Minh Thu
