Prime Minister Nguyen Xuan Phuc has recently signed a decision to set up the Viet Nam National Innovation Center (NIC) under the Ministry of Planning and Investment.

The establishment of the Viet Nam National Innovation Center aims to support and develop a startup ecosystem in Viet Nam. (Illustrative image. Source: VNA)

The establishment of the center aims to support and develop a startup ecosystem in Viet Nam and promote innovation as well as the growth model based on scientific and technological development.

The PM assigned the Ministry of Planning and Investment to specify the functions, tasks, power and apparatus of the center, and approve its organisation and operation regulations.

He asked the ministry to mobilise, manage and use legal resources from domestic and foreign organisations and individuals to serve the center’s operation in line with the country’s law.

The Ministry of Science and Technology was tasked to work with the Ministry of Planning and Investment to direct the management board of Hoa Lac Hi-Tech Park to support the completion of procedures to put the center into operation.

The Ministry of Finance was requested to work with the Ministry of Planning and Investment to issue documents guiding the management and use of aid packages for the center.
         
(Source: VNA)