The Government has issued a decree approving the establishment of the Vietnam-Korea Institute of Science and Technology (V-KIST) as part of an agreement between Vietnam and the Republic of Korea.

Modelled on the Korea Institute of Science and Technology, V-KIST will be a research organisation under Vietnam’s Ministry of Science and Technology, with its own seal and recognised as a legal entity.

The institute will conduct research on technologies to serve Vietnam’s strategic industries, the development of national products and integrated technologies to replace current imported products and technologies as well as for other purposes.

To facilitate this, V-KIST will be entitled to special financial incentives similar to universities established between the governments of Vietnam and foreign countries to encourage leading scientists to take part in the institute’s research activities.

The institute will establish its headquarters at the Hoa Lac High-tech Park, approximately 30 kilometres west of Hanoi.