An analysis of innovation ecosystem in vietnamese enterprises

MINISTRY OF EDUCATION AND TRAINING
FOREIGN TRADE UNIVERSITY

MASTER

THESIS

AN ANALYSIS OF INNOVATION
VIETNAMESE

ECOSYSTEM

ENTERPRISES

Major: International Economics

PHAM

XUAN THAI

Ha Noi - 2023

IN


MINISTRY OF EDUCATION AND TRAINING
FOREIGN TRADE UNIVERSITY

MASTER

THESIS

AN ANALYSIS OF INNOVATION
VIETNAMESE

ECOSYSTEM

ENTERPRISES

Major: International Economics
Code: 8310106

Student: Pham Xuan Thai

Supervisor: Luong Thi Ngoc Oanh (PhD)

Ha Noi - 2023

IN


DECLARATION

Thereby declare that this is my own research work, with the support of my
Instructor - PhD.Luong Thi Ngoc Oanh. The research contents and results in this
topic are honest and have never been published in any previous research work. The
data in the tables for analysis, comments and evaluation are collected by the author
himself from different sources listed in the references.
If any fraud is detected, I would

like to take full responsibility before the

Council as well as the results of my thesis.


ACKNOWLEDGEMENT

In embarking on the journey of researching and completing this graduation
thesis, I have relied not only on my own self-study and analysis but also on the
invaluable guidance and sincere suggestions provided by PhD. Luong Thi Ngoc
Oanh. I am deeply grateful for the unwavering support and mentor-ship that
PhD.Oanh has provided throughout the process of this research. Her expertise and
guidance have been instrumental in shaping and refining this article.
Furthermore, I would like to extend my heartfelt appreciation to the lecturers
of the Faculty of International Economics at the Foreign Trade University. Their
knowledge, insights, and critical assessments have played a pivotal role in
enhancing the quality and comprehensiveness of this thesis.
Despite my best efforts, I acknowledge that this thesis may have certain
limitations in terms of research experience, data search, analysis, and evaluation.
However, I am confident that these imperfections can be addressed through your
valuable comments and suggestions. I warmly welcome any feedback that will
contribute to further improving and enriching this article, making it a solid
foundation for future studies in related fields.

Once again, I express my sincere gratitude to Dr. Luong Thi Ngoc Oanh and
the esteemed lecturers for their unwavering support and guidance. Your
contributions have been indispensable, and I am honored to have had the privilege
of working under your tutelage.


TABLE OF CONTENTS

DECLARATION
ACKNOWLEDGEMENT
TABLE OF CONTENTS
LIST OF TABLES
LIST OF FIGURES
LIST OF ABBREVIATIONS
SUMMARY

OF DISSERTATION

RESEARCH

RESULTS.

INTRODUCTION
CHAPTER

1:

INNOVATION

wl

THEORETICAL
ECOSYSTEM

BASIS

FOR

IN VIETNAMESE

AN

ANALYSIS

OF

THE

ENTERPRISES...

1.1. Theoretical foundations of innovation...

1.1.1. Concept of innovation
1.1.2. Characteristics of innovation
1.1.3. The role of innovation in economic development

10
1
12

1,2. Theoretical foundations of innovation ecosystem.

1.2.1. Concept of innovation ecosystem
15
1.2.2. Characteristics of innovation ecosystem
1
1.2.3. Factors affecting innovation ecosystem on Vietnamese enterprises.......
21

1.3. The world experience in developing innovation ecosystem on enterprises... 25
1.3.1. Status of an innovation ecosystem in the world.
25
1.3.2. Actual situation and experience of developing innovation ecosystem on
enterprises in some countries around the world
29
CHAPTER 2: ANALYSIS OF THE INNOVATION ECOSYSTEM IN
VIETNAMESE ENTERPRISES
2.1. Overview of innovation ecosystem in Vietnamese Enterprises
2.2. The situation of developing the innovation ecosystem in Vietnamese
enterprises from 2020 to 2022...

se 37

2.2.1. Actual situation of digital technology application in Vietnamese
enterprise from 2020 to 2022
37


2.2.2. Readiness for the innovation ecosystem in Vietnamese eterprises.......
42
2.2.3. Stories about innovation ecosystem in some Vietnamese enterprises..... 46
2.3. Analysis of the innovation ecosystem in Vietnamese enterprises...
2.3.1. Strengths
50
2.3.2. Weaknesses
53
CHAPTER 3: SOLUTIONS TO PROMOTE THE INNOVATION
ECOSYSTEM IN VIETNAMESE ENTERPRISES UNTIL 2030
51

3.1. Policies and regulations to develop the innovation ecosystem in
Vietnamese enterprises.
51
3.2. Recommendations to improve the innovation ecosystem in Vietnamese
enterprises...
58
3.2.1. Strengthening Financial Support for Innovation ecosystem
58
3.2.2. Enhancing Human Capital and Skills Development.
62
3.2.3. Fostering Collaboration and Knowledge Transfer
65
3.2.4. Improving Regulatory Framework and Intellectual Property Rights
Protection
69
3.3. Strategies to promote the innovation ecosystem in Vietnamese
enterprises until 2030.
...71
3.3.1. Prioritizing and Sequencing the Recommendations
71
3.3.2. Engaging Stakeholders and Building Partnerships
73
3.3.3. Establishing Monitoring and Evaluation Mechanisms
75
CONCLUSION
LIST OF REFEREN


LIST OF TABLES

Table 1.1. Innovation trends that worldwide enterprises mostly use....
we
Table 2.1. Global Innovation Index 2022 rankings...
we dS
Table 2.2. The Development Stages of the Innovation ecosystem in Vietnamese
enterprises.......
40
Table 2.3. Key aspects of digital transformation in business.....
-.44
Table 2.4. Summary of Government Policy to promote innovation ecosystem in
1.52
enterprises 2022...
LIST OF FIGURES

Figure 1.1. The gap between leading and lagging enterprises............................. 26.
Figure 2.1. The Innovation Support Organisations in Vietnam sorted by Ownership
and Industry...
133
Figure 2.2. Newly-established enterprises and total registered capital in 2020-2022....38
Figure 2.3. Vietnam digital economy (in USD billion).............................-....- 42
Figure 2.4. Distribution of enterprises participating in the survey by industry (%).43
Figure 2.5. The 6 areas that HBIC focuses on developin;

47

Figure 2.6. Elements of the business model are affected when the enterprises apply
innovation ecosystem...

Figure 3.1. FPT University by number
Figure 3.2. Exit status of C-lab projects

55

63
67


LIST OF ABBREVIATIONS

United Nations Conference on Trade and Development (UNCTAD)
United Nations Development Programme (UNDP).
Attificial Intelligence (Al)
Augmented Reality (AR)
Virtual Reality (VR)
Mixed Leality (MR)
Machine Learning (ML)
Software Development Lifecycle (SDLC)
Global Innovation Index (GII)
World Intellectual Property Organization (WIPO)
Over-the-top (OTT)
Internet of Things (lo)
Financial Technology (Fintech)
Research and Development (R&D)
Information Technology (IT)
Hoa Binh Innovation Center (HBIC)
Ho Chi Minh City High-Tech Park (SHTP)
Hoa Binh Construction Group ~ HBC
Joint Stock Company (JSC)
USAID (the United States Agency for International Development)
Intellectual Property Rights (IPR)

SUMMARY

OF DISSERTATION RESEARCH

RESULTS

Thesis title: An analysis of innovation ecosystem in Vietnamese enterprises
Student: Pham Xuan Thai
Student code: 821123
Class: MIE4A_

Instructor: PhD. Luong Thi Ngoc Oanh
Working unit: Faculty of International Economics - Foreign Trade University
Keywords: innovation ecosystem, Vietnam, enterprises

Summary content:
1.

Thesis title: An analysis of innovation ecosystem in Vietnamese enterprises

2.

Research area: (Q55) Technological Innovation, (032) Management of
Technological Innovation and R&D, (P42) Productive Enterprises
Research purpose of the thesis: Analyze the theoretical basis of innovation
ecosystem in general and innovation ecosystem in Vietnamese enterprises in

particular; Analysis and assessment of achievements and limitations of

innovation ecosystem in Vietnamese enterprises in the period 2020-2022;
Present lessons learned and propose some solutions for innovation ecosystem
in Vietnamese enterprises.

Research methods used in the thesis: Qualitative analysis
Main contents and author contributions:
Main

contents: In addition to the introduction and conclusion, this thesis

includes 3 main contents distributed in 3 chapters. Chapter 1 has the task of stating
and clarifying the theoretical basis of innovation and innovation ecosystem in
Vietnamese enterprises. In Chapter 2, the author uses qualitative methods to analyze
and evaluate an innovation ecosystem in Vietnamese enterprise.

Chapter 3, the

author points out the recent policies and regulations to develop the innovation

ecosystem in Vietnamese enterprises . Besides that, the author also proposes


recommendations and solutions to improve the innovation ecosystem in Vietnamese

enterprises.

© Author contribution: Within this thesis, as I delved into the exploration and
analysis of the innovation ecosystem in Vietnamese enterprises, the author has
proposed policy implications aimed at fostering the adoption of digital
transformation technologies. These implications serve to address the professional

requirements and streamline the managerial processes within companies, thereby
facilitating the development of a robust innovation ecosystem in Vietnamese
enterprises. Based on that, the author has drawn inspiration from the lessons learned
in other case studies across the globe, where the focus on quantity has often
outpaced considerations of quality. By observing and understanding these global
experiences, we can navigate potential pitfalls and avoid the pitfalls of prioritizing
sheer numbers over sustainable and impact innovation.


INTRODUCTION
1. Rationale of the research

In today rapidly changing global economy, innovation has become a key
driver of sustainable economic growth and competitiveness. The ability of
enterprises to innovate and adapt to new technological advancements and market

dynamics is crucial for their long-term success. Within this context, the concept of
an innovation ecosystem has emerged as a powerful framework for understanding
and fostering innovation at various levels.
This thesis aims to provide a comprehensive analysis of the innovation
ecosystem in Vietnamese enterprises. Vietnam, as a dynamic and emerging economy

in Southeast Asia, has witnessed a remarkable transformation over the past decades.
The country has recognized the importance of innovation in