National Innovation Centre to fuel economic development

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He referred to successful models in China, the Republic of Korea, and Israel, which have attracted large tech firms worth billions of USD and created tens of thousands of high quality jobs.

The centre should have a good business environment and competitive policies, enabling companies to access human and capital resources, infrastructure, and markets, he said.

In Vietnam, the NIC will be located in the Red River Delta,  where the economic scale makes up over a quarter of the country’s gross domestic product (GDP).

The centre could become a place to promote the development of products and services for smart cities such as digital communications; video games; or cybersecurity applications for governmental agencies and companies, businesses, or individuals.

It is expected to provide support for startup businesses and transfer technologies to small- and medium-sized ones in addition to contributing capital to develop new technologies and piloting new regulations and policies on State management in the field.

This will be the first centre of its kind and part of the innovation centre network to be set up throughout the country in the future, focusing on specific fields of each locality’s strengths, Dung added.