On 25 October, on behalf of CMC Corporation, Mr. Nguyen Trung Chinh - Chairman of Board of Directors/Executive President attended the launching ceremony of Vietnam Innovation Challenge 2022. The representative of CMC affirmed that innovation is an important driving force for business development and committed to accompany the program.

Vietnam Innovation Challenge is an annual activity within the framework of Vietnam Innovation Initiative (InnovateVN) initiated by Vietnam National Innovation Center and Ministry of Planning and Investment and accompanied by Meta Group as well as other major technology partners around the world.

At the event, Minister of Planning and Investment Nguyen Chi Dung said that Vietnam Innovation Challenge will be a strategic program that seeks innovative solutions around the world to overcome national challenges for the prosperity and sustainable development of Vietnam.

Minister of Planning and Investment Nguyen Chi Dung speaks at the event

Attending the ceremony, Mr. Nguyen Trung Chinh - Chairman of BOD/Executive President of CMC Corporation asserted that innovation is a critical driving force for CMC's business development. For years, CMC has had its own Innovation Center and a Creative Fund to share resources with start-ups in need. In addition, CMC has also established CMC Institute of Science and Technology,  and recently CMC University. These are extremely vital factors for innovation.

Mr. Nguyen Trung Chinh – Chairman of Board of Directors, Executive President of CMC Corporation speaks at the ceremony

"As one of the pioneers with Cloud digital infrastructure and C.OPE2N digital ecosystem, CMC wishes to accompany organizations and enterprises, especially small and medium-sized ones, in the process of deploying digital transformation as well as innovation" - said Mr. Nguyen Trung Chinh.

Talking about the goals of Vietnam Innovation Challenge, Minister of Planning and Investment Nguyen Chi Dung said that "the program will be a strategic program that seeks innovative solutions around the world to overcome national challenges for the prosperity and sustainable development of Vietnam. We call for the cooperation between public sector, private sector as well as domestic and foreign partners to jointly create, test and implement innovation initiatives, in order for Vietnam to flourish."

With the desire to attract investment to Vietnam in a sustainable manner and create favorable conditions for Vietnamese small and medium-sized enterprises to participate in the value chain, Vietnam Innovation Challenge 2022 will focus on innovative solutions and digital transformation solutions that help improve the capacity of such enterprises. The program will seek to solve three main issues: Fund mobilization, human resources training and delivery of technology-powered products.

Vietnam Innovation Challenge needs the cooperation of domestic and foreign technology corporations

"We need the cooperation of all domestic and foreign technology corporations present here today, to work together and build a leading center that not only contributes to Vietnam's economy, but also connects to others in the region" - said the Minister.

Innovate VN was initiated by Ministry of Planning and Investment and National Innovation Center (NIC) in collaboration with technology corporations and domestic and international partners to promote innovation-based economic growth with new business models, products and processes. The initiative aims to support 500 pioneering companies to develop innovation strategy in order to lead the economy in 2030, as well as contribute to improving innovation capacity at central and local agencies in the public sector. At the same time, InnovateVN is the core to develop a comprehensive innovation ecosystem in Vietnam which acts as an attractive destination for technology and innovation investors, with the participation of 500 world largest corporations.