New Samsung hub
09:38 | 23/03/2020 Companies
(VEN) - Samsung Vietnam has begun construction of a US$220 million research and development (R&D) center in Hanoi, Samsung Electronics’ first R&D hub outside the Republic of Korea (RoK), reflecting its confidence in Vietnam’s capacity, capabilities and aspirations to integrate science and technology into modern production.
Once completed, the research workforce in Vietnam will increase from 2,200 to 3,000, with research capacity to be enhanced not only in product development but also in new technologies such as artificial intelligence, the internet of things and big data.
Samsung Vietnam General Director Choi Joo Ho said in a statement that the center would allow the RoK company to fulfill its commitment to contribute to Vietnam’s science and technology by training and nurturing a talented workforce in the high-tech industry.
The Samsung project is the latest breakthrough in Vietnam’s drive toward the application of science and technology as a major driving force for socioeconomic growth and its recognition of technological innovation as the heart of sustainable development.
Based on its awareness of new technologies as an important key in determining the competitiveness and future growth, especially in developing countries, a decade ago Vietnam adopted the Strategy for Science and Technology Development in the 2011-2020 period. The plan called for investment in science and technology to reach 1.5 percent of GDP by 2015 and more than two percent by 2020. The Law on Technology Transfer and the Law on High Technologies also set the legal framework for the participation of foreign investors in high-tech activities from manufacturing and processing to education and training.
According to Decision 677/QD-TTg approving the national technological renewal program through 2020, the number of businesses renewing technologies will increase by 15 percent per year on average, of which five percent will apply to high-tech. In addition, all businesses producing main products, key products and national products will master and develop advanced production technologies. Under the plan, as many as 80,000 engineers, technicians and managers of small- and medium-sized enterprises will be trained in technology management and administration and updated on new technologies.
The 2013 Law on Science and Technology also stipulates financial support from the state budget for the implementation of scientific and technological tasks. Accordingly, businesses can receive financial support of up to 30 percent of total investment capital for projects that apply sci-tech to create new products or enhance productivity, quality and competitiveness; up to 50 percent of total investment capital for projects carried out in areas with difficult or exceptionally difficult socioeconomic conditions; and 50 percent of total investment capital for projects of national scientific and technological tasks in prioritized or key fields as specified by the state.
The National Technology Innovation Fund (NATIF) was founded following Prime Ministerial Decision 1342/QD-TTg. With its chartered capital of VND1 trillion, the fund reflects the government’s determination to improve the quality of economic growth, and innovate Vietnam’s growth model with science and technology and innovation activities as a foundation.