Private Sector Development, Privatization, and Industrial Policy

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  • Publication
    Vietnam: Science, Technology, and Innovation Report 2020
    (World Bank, Washington, DC, 2021) World Bank
    The science, technology, and innovation (STI) report provide analytical support for Vietnam’s upcoming ten-year STI strategy 2021-2030 and the socio-economic development strategy (SEDS) 2021-2030. The STI report has been prepared in response to a request from the Ministry of Science and Technology (MOST). The new STI strategy is expected to contribute to a strengthened national innovation system (NIS) that will promote a more innovation-driven enterprise sector, and in turn lead to sustained high-growth in Vietnam. As the Coronavirus disease 2019 (COVID-19) triggered economic shock continues to spread globally and its impact deepens in Vietnam, the importance of innovation and technology adoption for business resilience as well as for productive growth has been amplified. This report will highlight specific changes in policies and present institutional options to strengthen technology adoption and innovation in enterprises to inform the new STI strategy 2021-2030 and the SEDS 2021-2030 in section one. Towards this end, section two presents the conceptual framework for the study. A brief overview of the current STI policy institutional framework is presented in section three. Section four reviews the state of Vietnam’s developing NIS and identifies the recurring gaps that hinder Vietnamese enterprises from adopting and applying technology. The coherence and quality of STI policies - the last pillar of the NIS - is examined in section five. Section six reviews the implication of the emerging domestic and global shifts and how they inform the new STI strategy. Section seven provides a roadmap of priority reform actions that are needed to reset the new STI strategy towards business innovation and technology adoption.
  • Publication
    Malaysia’s Experience with the Small and Medium Sized Enterprises Masterplan: Lessons Learned
    (World Bank, Malaysia, 2020-02) World Bank Group
    Productivity-enhancing measures play a pivotal role in Malaysia’s aspirations of becoming a high-income economy. Malaysia has enjoyed an impressive growth performance over the past few decades, with growth rates of at least 7 percent per year for more than 25 consecutive years. However, with the rise of other emerging economies, notably China and India, Malaysia has faced challenges in pivoting away from a ‘low-cost, high-volume’ strategy towards a ‘high-value’ one. Small and medium-sized enterprises (SMEs) are a crucial component of Malaysia’s strategy to become a high-income nation. As SMEs account for all but 1.5 percent of firms and the bulk of production and employment, they are central to Malaysia’s objective of becoming a high-income economy. SMEs form the bedrock of the private sector and innovation and can contribute to growth by supplying multinationals or accessing international markets directly. Despite their critical importance, the share of Malaysian SMEs in GDP (32 percent) and total exports (16 percent) was far lower than competitors in 2010. At the time of preparation of the Masterplan, the export share was more than 20 percent lower than that in countries such as the Philippines, Hong Kong, Taiwan and even the US, and there was also scope for greater sectoral and geographical diversification. It was recognized that specific policies to enable favorable conditions for SMEs to flourish were needed so that they can easily expand into fast-growing markets and increase the production of knowledge- and innovation-based products and services.