10:37 (GMT +7) - Sunday 24/09/2017

Vietnam Today

JICA provides support to Hoa Lac Science and Technology City

Released at: 17:46, 07/06/2017

JICA provides support to Hoa Lac Science and Technology City

Photo: khoahocphattrien

$117.6 million ODA loan signed in Tokyo to provide assistance in basic infrastructure at Hoa Lac center.

by Ngoc Chi

The Japan International Cooperation Agency (JICA) has signed a loan agreement in Tokyo with the Vietnamese Government to provide an overseas development assistance (ODA) loan of up to $117.6 million for the Hoa Lac Science and Technology City Development Project (II) in Hanoi.

The project will provide assistance in basic infrastructure for an integrated science and technology center at the Hoa Lac area on the outskirts of the capital, promoting human resources education and advancing science and technology; areas where Vietnam lags behind advanced ASEAN countries.

The loan will be allocated to building infrastructure at Hoa Lac High-Tech Park as well as to consultant services.

Vietnam has set a goal of becoming a modern industrialized country and to do so has adopted a development goal of accumulating advanced science and technology, which includes having high-tech products represent 45 per cent of GDP.

The government increases its budget for science and technology annually but the large gap separating Vietnam from advanced ASEAN countries persists in terms of science and technology indicators issued by international agencies.

It is thought that constructing a collaborative system for research institutions, educational institutions, and industry, while promoting advanced, practical technological development, will be key to addressing these issues, and infrastructure is required in the form of bases that can integrate science and technology.

Under this project, basic infrastructure will be built at Hoa Lac High-Tech Park, which will provide research, development, education, and training.

This will encourage research and education institutions to come together and promote private investment, forming an anchor for science and technology in Vietnam while promoting economic growth and building international competitiveness.

This is the second loan for the project, with Japan previously providing $139.1 million in an ODA loan signed in March 2012.

JICA’s policy is to dynamically implement projects that address development issues in Vietnam while coordinating its various types of assistance, which include Japanese ODA loans, technical cooperation, and grant aid.

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