The signing on 22 September 2016 of the Grant Agreements is a milestone facilitating Belgian financial support to three key project stakeholders in the Science & Technology incubation sector in Vietnam.
The following institutions are receiving a financial grant:

• Designing, Pilot Manufacturing and Testing Center (SATI-TECH), represented by Mr. Pham Viet Hong, receiving €495,000 to implement the InnoFund for further acceleration of entrepreneurial science and technology innovation and support structures;
• Technology Business Incubator Center - National Center for Technological Progress (NTBIC), represented by Mr.Tran Vu Tuan Phan, receiving €170,000 to implement S&T entrepreneurial incubation activities in Hanoi;
• Technology Business Incubation Center - Ho Chi Minh City University of Technology (HCMUT-TBI), represented by Mr. Mai Thanh Phong, receiving €100,000 to implement S&T entrepreneurial incubation activities in Ho Chi Minh City.   

The signing of the Grant Agreements with the three institutions was conducted by Mr Alain Devaux, resident representative of the Belgian Development Cooperation (BTC) in Vietnam, and Mr Tran Dac Hien, BIPP Project Director representing the Ministry of Science and Technology.

The signing ceremony was attended by the honorable Vice Minister Tran Van Tung – Ministry of Science and Technology. In his speech he highlighted that S&T enterprises are playing an important role in the development of Vietnam. Last year, 87 new S&T enterprises were established, and 160 applications were reviewed for certification. S&T enterprises do not only convert applied science into practical reality and production, but also create products with high added value.

According to the national science development strategy approved by the Prime Minister, Vietnam is aiming to establish approximately 5,000 S&T enterprises by 2020. The Vice Minister strongly believes that, with the support from Belgium, Vietnamese S&T entrepreneurs have better opportunities to finalize their prototypes and capture existing market potential. Through the grants he expects scientists and entrepreneurs to further incubate their scientific innovation and bring promising ideas to the market. In the near future, Vietnam will possess more high-tech brands. This will not be simple, but the Vietnamese Government jointly with the private sector will do their best to achieve this noble objective.
The Vice Minister concluded that enthusiasm for science and technology is fostered in the public and will mobilize more creative resources for the modernization of Vietnam.

Mr. Alain Devaux, resident representative of the Belgian Development Cooperation (BTC), thanked the honorable Vice Minister Tran Van Tung for his full-hearted project support and wise development vision. He express his sincere hope that the Belgian support will improve awareness of international best practice in technology transfer, innovation and the incubation of S&T enterprises. Belgium assists the Ministry in accelerating new initiatives in technology business incubation with the objective of identifying best practices and learning experiences which can feed back into policy and regulatory development. Mr. Alain Devaux expressed hopes that the subsequent improvements in the policy and regulatory framework in Vietnam will encourage the further establishment and operation of technology business incubators and S&T enterprises, thus improving Vietnam’s competitiveness in the regional and global market.