HANOI, Dec 4 (NNN-VNA) – Vietnam’s capital, Hanoi, will allocate four percent of its annual budget, equivalent to over nine trillion Vietnamese dong (about 340 million U.S. dollars), for science, technology and innovation, starting next year, VnEconomy reported, today.
Of the total, public investment will account for over 5.5 trillion Vietnamese dong (about 208 million U.S. dollars), according to the report.
Truong Viet Dung, vice chairman of the municipal People’s Committee, said that, to maintain growth targets of eight to 10 percent this year and 11 percent next year, the city has no option but to rely on science, technology and innovation.
Tran Anh Tuan, director of the municipal Department of Science and Technology, said, Hanoi is preparing to establish large-scale laboratories, each worth hundreds of millions of U.S. dollars or more.– NNN-VNA