Vietnam to establish National Innovation Centre

The Vietnamese government will tomorrow formally launch a project to establish a National Innovation Centre in Hanoi to help lay the groundwork for Vietnam to capitalize on the Industry 4.0 era.

The project is set to break ground later this year and could be ready for operation by next year. It will be developed over a three year period.

The NIC aims to lure 40 large technology companies, as well as 150 startups and SMEs and 15 venture investment funds, the Ministry of Information and Communication announced.

It will initially focus on priority areas including network security, digital content and smart manufacturing and smart city technologies.

The draft plan for the project stipulates the construction on a 23 hectare area of Hoa Lac Hi-Tech park, and calls for total investment of 1.9 trillion dong ($81.7 million). The project forms part of the

The NIC is a part of the Ministry of Planning and Investment’s Vietnam Innovation Network initiative, and if the project is successful, the government plans to establish more such centers across Vietnam.