|World Bank Country Director in Viet Nam Victoria Kwakwa makes a speech at the opening for the first call for proposals for WB-funded Vietnam Inclusive Innovation Project. — VNS Photo Lan Dung
HA NOI (VNS) — The Ministry of Planning and Investment (MPI) has invited proposals for World Bank (WB)-funded Vietnam Inclusive Innovation Project.
To be implemented during the 2013 to 2018 period, the project will aim to support Vietnamese research organisations, enterprises and individuals and help them adopt, upgrade, develop and commercialise technologies to deliver high performance products and technological solutions at an affordable cost for the benefit of the poorest.
It will also prioritise technological solutions for traditional herbal medicine, information and communication technology applications, as well as agriculture and aquaculture technologies.
The project's total investment is US$55.625 million, with preferential loan worth $55 million drawn from the WB's International Development Association (IDA) and $625,000 from the Vietnamese government's corresponding capital.
MPI's Enterprise Development Agency will be responsible for the management and execution of this project. The National Foundation for Science and Technology Development (NAFOSTED) will manage capital allocated for participating organisations and individuals. Vietcombank and Vietinbank have also been selected to manage the loans of enterprises.
The closing date for the first call is March 31. The second and third calls will conclude on June 30 and October 31, respectively. However, the project's management board will start considering proposals after receiving 100 submissions.
Speaking at the opening of the first call for proposals yesterday in Ha Noi, MPI Deputy Minister Dang Huy Dong emphasised the importance of the first invitation for proposals related to the project. He also expressed his belief that the project would attract considerable participation from research organisations, enterprises and individuals.
"I hope that during the first call for proposals, the project will select many outstanding ideas with advanced technologies and excellent innovation," he said.
WB Country Director in Viet Nam Victoria Kwakwa said the project focusing on small- and medium-sized enterprises would support Viet Nam's efforts to strengthen its domestic private sector and boost growth. — VNS