PM Nguyen Xuan Phuc and delegates press the button to start the construction of the The National Innovation Center on January 9, 2021 - Photo: VGP/Dinh Nam

The center was built with the aim of researching and developing technological ideas in the best infrastructure conditions, as required by the Party Politburo’s Resolution on Industry 4.0. The 35,000 square meter- NIC is expected to accommodate major local and international R&D think tanks. Speaking at the event, Prime Minister Nguyen Xuan Phuc emphasized the role of innovation as a significant contributor to increasing the productivity, growth and development efficiency. 

“When we are moving ahead, the world does not wait for us. Thus, innovation is the key to successful and prosperous Vietnam. Knowledge, science, technology and innovation must be used as important growth factors to prevent us from falling into the trap of a mid-income country. As a matter of fact, various countries with abundant natural resources cannot ensure rapid and sustainable growth while countries with limiter resources still hold high economic growth rate. Technology and human make different and they are the launching pad for growth,” said Mr. Phuc. 

The Prime Minister hailed Vietnam’s improvement in its Global Innovative Index, up 10 places since 2015 to 42 out of 141 countries and territories, topping the list of 29 economies with similar income level. The National Innovation Center will be a gathering place for large domestic and international enterprises and technology groups, provide research laboratories and test products according to international standards to bring the best infrastructure conditions for research. developing technological ideas. The NIC will build key functional subdivisions, including an Integrated Service Center; workspaces for large domestic and foreign technology companies; workspaces for venture capital funds and innovative businesses; laboratories, prototype manufacturing workshops, exhibition areas for product display.