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implementation guidance is incomplete, institutions are still learning, and firms may
remain cautious if incentives, intellectual property arrangements, and risk-sharing
mechanisms are not yet sufficiently credible. In this respect, international experience
confirms that successful innovation-oriented PPP depends not only on legal permission,
but also on a catalytic role of the State, professional coordination, flexible governance,
and clear benefit-sharing arrangements.
The policy implications are therefore clear. Vietnam should prioritize carefully
selected pilot projects, improve legal coherence, create attractive and credible financial
mechanisms, strengthen implementation capacity, and mobilize international resources
and expertise. Equally important, it should avoid mechanically transferring infrastructure
PPP logic into innovation sectors where uncertainty, intangible assets, and rapid
technological change require a different governance approach.
In conclusion, PPP policy in high-tech innovation in Vietnam is both urgent and
promising. It represents a necessary shift in public management from direct provision
toward strategic facilitation, from isolated support measures toward coordinated
governance, and from purely public innovation financing toward shared responsibility and
shared opportunity. If Vietnam can translate recent legal reform into effective pilot
implementation and institutional learning, PPP may become a powerful instrument for
building national technological capability and supporting long-term economic
transformation.

References
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