National Innovation Center receives $2 million aid from Japan

National Innovation Center receives $2 million aid from Japan

The official development aid will be used to support social impact investment to address social issues in Việt Nam.

From left: Resident Representative of the United Nations Development Programme (UNDP) in Việt Nam Ramla Khalidi, Japanese Ambassador to Việt Nam Ito Naoki, and National Innovation Center (NIC) director Vũ Quốc Huy sign agreements to deliver and receive the aid in Hà Nội on Thursday. — VNS Photo Bảo Hoa

The Japanese Government has given 300 million Japanese yen (US$2 million) in official development aid to support Việt Nam’s National Innovation Center and the next generation of start-ups, with a focus on making social impact.

A ceremony took place in Hà Nội on Thursday between Japanese Ambassador to Việt Nam Ito Naoki, Resident Representative of the United Nations Development Programme (UNDP) in Việt Nam Ramla Khalidi and National Innovation Center (NIC) director Vũ Quốc Huy, to deliver the aid.

The fund will be used to implement a project to improve the NIC’s infrastructure, equipment, and human resources along with supporting the establishment of impact investment funds, and a master plan to empower new start-ups at the NIC.

The project will be carried out over the next 18 months.

Speaking at the signing ceremony, Japanese Ambassador to Việt Nam Ito Naoki said: “This project focuses on the importance of social impact investment to solve the various social issues facing Việt Nam.

“I expect that the investment by NIC would act as a catalyst for private investment, including in research and development, which would further accelerate industrialisation and modernisation in Việt Nam.

“Further more, I expect that start-ups supported by this project will collaborate with Japanese companies and further grow into uniform companies, contributing to the strengthening of Việt Nam’s industrial competitiveness in the future.”

NIC director Vũ Quốc Huy said: “This is an important milestone in the long-term and effective cooperation 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 Hòa Lạc, with the vision of making NIC Hòa Lạc a destination for national and regional innovation."

UNDP Resident Representative in Việt Nam Ramla Khalidi said the project aligns with UNDP’s commitment to fostering a robust national innovation ecosystem in Việt Nam.

“This project comes at a crucial time when Việt Nam is prioritising investments and breakthroughs in science, technology and innovation to drive long-term, high-quality growth,” she said.

“By enhancing access to capital, fostering skills, and promoting collaboration, the project will help unlock the full potential of Vietnamese start-ups”.

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