Additional 10 million EUR for innovation in Vietnam
(VOV) - An October 23–24 forum in Hanoi has heard the second phase of the Vietnam-Finland Innovation Parternship Programme (IPP) includes 10 million EUR in funding for the 2014–2018 period.
The forum, convened by the Finnish Embassy and the Ministry of Science and Technology, focused on the Vietnamese and Finnish Governments’ official development assistance (ODA) project designed to foster business innovation.
The IPP encourages technology upgrades, management improvements, developing new product ranges, and creative marketing. It supports small and medium-sized enterprises (SMEs) working in information technology, bio-technology, engineering, and green energy, prioritising projects contributing to poverty reduction.
Minister of Science and Technology Nguyen Quan said the two-day forum allows Vietnamese and Finnish policy makers, scientists, and businesses to consolidate links, deepen mutual understanding, and discover what each party can bring to Vietnam’s national renovation and economic restructuring.
He emphasised how heavily Vietnam’s future rests on its ability to innovate and integrate successfully the global market. Globalisation challenges domestic businesses to concentrate on creativity—mere competence will not be enough to penetrate overseas markets and dodge the middle-income trap.
Finnish Ambassador to Vietnam Kimmo Lahdevirta said similar IPPs are underway in South Africa, Tanzania, Mozambique, and other European countries. Its Vietnamese iteration seeks to boost bilateral cooperation with Finland and help the Southeast Asian country ascend the rungs of the knowledge-based global economy.
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| Closing workshop of the IPP's first phase in Hanoi in June 2013 |
The project’s first phase, running from 2009–2013, was implemented in Hanoi, Hai Phong, Hue, Da Nang, Lam Dong, Ho Chi Minh City, Can Tho, and An Giang. Its budget exceeded 7 million EUR.