Vietnam - Korea Institute of Science and Technology to set up

A record of discussion for the establishment of Vietnam - Korea Institute of Science and Technology (V-KIST) was recently signed between KOICA and Vietnam’s Ministry of Science and Technology.

Photo: Vu Oanh

It aims to establish an institute of science and technology leading to industrialization of Vietnam which will be located in Hoa Lac hi-tech park outside Hanoi city. Between 2014-2018, Korea International Cooperation Agency (KOICA) will provide grant aid of USD35 million and support for construction of the Institute buildings equipped with necessary research equipments, capacity development program as well as operation of the interim institute.

Accordingly, V-KIST will play a role in providing a scientific and technological basis of national development by studying core technology for import substituting industry and advancement of core industry focused on research of new growth power leading to national economic development as an Institute of Science and Technology.

Mr. Chang Jae Yun, Resident Representative of KOICA Vietnam Office, said V-KIST will contribute to the creation of new growth power and improvement of industry structure that Vietnam’s economy faces by taking a great role of national science and technological development.

This project has started from a request of Vietnamese government to benchmark Korea Institute of Science and Technology as a successful development case in the country. It also went forward with a Memorandum of Understanding between Korea’s Ministry of Foreign Affair and Trade and Vietnam’s Ministry of Planning and Investment during President Park Geun-hye’s official visit to Vietnam in September last year.

(Source: CPV)