HÀ NỘI — The Japan International Cooperation Agency (JICA) on Tuesday signed an official development assistance (ODA) loan agreement worth JPY12.865 billion (US$117.8 million) for the Hoà Lạc Science and Technology City Development Project.

Under the project, basic infrastructure will be built for an integrated science and industrial technology centre named Hòa Lạc High-Tech Park (HHTP).

The park will provide research, development, education and training in the Hòa Lạc area on the outskirts of Hà Nội.

The project will also promote human resource education and advanced science and technology at the centre.

Previously, Japan provided JPY15.218 billion for the first ODA loan for this project in March 2012.

Việt Nam has increased its budget for science and technology each year, but a large gap separates the country from advanced ASEAN nations.

It still persists in terms of science and technology indicators issued by international agencies.

Experts said that building a collaborative system for research institutions, educational institutions and industry while promoting advanced and practical technological development will be the key to address these issues.

JICA’s policy is to implement projects that address development issues in Việt Nam and offer coordination for JICA’s various types of assistance, which include Japanese ODA loans, technical cooperation and grant aid.

The HHTP, approved in 1998, is the first and the largest hi-tech facility in Việt Nam with total area of 1,586 ha. The park is located along Hà Nội’s Thăng Long Boulevard, convenient for transport links to Nội Bài International Airport and Hải Phòng deep-sea port. It is expected to become a model science city and a national hub for technology development and application. — VNS