PROMOTING PIONEERING UNITS THAT SUPPORT THE ENTREPRENEUR INNOVATION ECOSYSTEM

29/10/2023
News

     In recent years, the reality has shown that innovation plays a crucial role in driving long-term productivity, efficiency, growth, and national competitiveness. Especially, in the context of green transition and sustainable development, which are emerging trends and directions for Vietnam, it requires us to promote innovative activities in the development of the Vietnamese economy. This will contribute to the realization of the restructuring policy and the innovation of growth models towards stability and sustainability.

      Open Innovation Day 2023, organized by the National Agency for Technology Entrepreneurship and Commercialization Development (NATEC) in collaboration with the Open Innovation and Technopreneur Institute (OITI), took place on October 25th-26th in Ho Chi Minh City with the theme “Tech Traverse – Where Technology Meets Industry for Sustainable Development”. The program honored and connected pioneering innovative entities, organizations, and individuals who have contributed to the development of the innovation ecosystem in Vietnam in recent years.

Overview of Open Innovation Day 2023

     Innovation is the creation and application of achievements, technical solutions, technology, and management solutions to enhance the effectiveness and development of the economy and society. This includes improving productivity, quality, and added value of products. A typical example is the transformation of the Vietnam Bank for Agriculture and Rural Development (Agribank). Recently, the credit rating organization Fitch Ratings announced the long-term issuer default rating for Agribank.

Agribank has been rated by Fitch Ratings as having the highest long-term issuer default rating among commercial banks in Vietnam (Photo: Agribank).

Agribank plays an important role in Vietnam’s banking system and a strategic role in supporting the development of Vietnam’s agriculture sector. Agribank is also highly regarded by domestic and international organizations for its reputation, with many accolades such as outstanding achievements in digital transformation in the banking industry, Top 10 Largest Enterprises in Vietnam in 2022, Top 10 Strongest Brands in Vietnam in 2023, Top 10 Vietnamese Bank Brands in the 500 Most Valuable Bank Brands in the World (according to Brand Finance 2023 ranking), the Excellent International Payment Quality Award in 2022 presented by JPMorgan, Standard Chartered, and Wells Fargo banks…
Agribank is currently one of the units driving strong innovation activities. One of AgriBank’s initiatives is the implementation of a Digital Bank model, with a customer-centric approach, serving customers directly at transaction counters and electronic payment channels, providing the best digital payment service experience for customers. Agribank has issued a Digital Transformation plan until 2025, with a vision towards 2030, aiming for a minimum of 80% of customers using electronic payment services and a minimum of 70% of Agribank’s disbursement and lending decisions for small loans and consumer loans for individual customers to be conducted digitally and automatically.

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