Japan signed an agreement to fund the Vietnam National Innovation Center with 51 billion VND in non-refundable ODA capital.

On the afternoon of February 27, in Hanoi, the Embassy of Japan and the United Nations Development Program (UNDP) signed an Exchange Agreement to launch the initiative “Enhancing the capacity to support innovation of the National Innovation Center”. Accordingly, the total investment capital of the project is 51 billion VND; under the category of non-refundable ODA capital provided by the Japanese Government.

“I am confident in the further development of the Comprehensive Strategic Partnership between our two countries. Japan has identified digital transformation and innovation as one of the key areas of cooperation, which means we will focus on cooperation with the National Innovation Center (NIC) – an iconic organization that promotes this process,” said Japanese Ambassador to Vietnam Ito Naoki.

Acting as the implementing unit of the initiative, Ms. Ramla Khalidi, UNDP Representative in Vietnam said: “The project is being implemented at an important time when Vietnam is prioritizing investment and creating breakthroughs in the fields of science, technology and innovation to promote high and sustainable growth. By expanding access to capital, improving skills and promoting cooperation, the project will help maximize the potential of startups in Vietnam."

The project is expected to be implemented over 18 months, focusing on three main outcomes:

Firstly , create a favorable investment environment : Support the establishment of the Vietnam Innovation Fund (VIF) under NIC, build a solid operating model according to international models, including clear progress measurement indicators.

Second , strengthening the national innovation ecosystem : Through enhancing cooperation and connectivity between government agencies, academia, research institutes and businesses through strategic partnerships and international cooperation.

Third , improve innovation skills and capacity : Implement specialized training programs on innovation management and design thinking, in cooperation with leading organizations, to equip businesses, innovation centers and government officials with the necessary tools to promote innovation.

The project focuses on strengthening the national innovation ecosystem with a systems approach, engaging stakeholders including government agencies, angel investors, venture capital funds, business incubators, universities, research institutes, business development support organizations, and startups. (Photo: UNDP Vietnam)

The initiative aims to support Vietnam's goal of becoming a developed country by 2045.

The project targets the Sustainable Development Goals (SDGs), in particular SDG 8 – Decent work and economic growth; SDG 9 – Industry, innovation and infrastructure; and SDG 12 – Responsible consumption and production.

The project places a special emphasis on empowering women in innovation. It aims to engage at least 30% of women-led startups in key initiatives, integrating diverse perspectives into the innovation process.

Witnessing the signing ceremony, Mr. Vu Quoc Huy, Director of the National Innovation Center, said: "This is an important milestone in the long-term and effective cooperation journey between Japanese partners, UNDP and the National Innovation Center. The results of the Project are very practical, meeting the requirements of the Center in 2025 and 2026, especially the completion of the National Innovation Fund model and the establishment of a co-working space at NIC Hoa Lac, with the vision of making NIC Hoa Lac a destination for national and regional innovation".

Source: https://nhandan.vn/nhat-ban-ky-ket-tai-tro-trung-tam-doi-moi-sang-tao-quoc-gia-viet-nam-51-ty-dong-von-oda-khong-hoan-lai-post862119.html