Vietnam-RoK jointly-founded institute promotes R&D in biotechnology | Sci-Tech

Hanoi (VNA) – The Vietnam – Korea Institute of
Science and Technology (VKIST) has recently signed several MoUs with both domestic and foreign partners on promoting research and
development (R&D) in science and technology.

One of the agreements was between VKIST and CVI Pharma, a
Vietnamese pharmaceutical company, which allows them to bolster cooperation in
medicinal plant-based health products. Over the last two years, the two sides
have been working together in three R&D projects, which will be soon
assessed and put in production.

VKIST President Kum Dongwha said in the coming time, the institute
will focus its efforts on R&D in biotechnology. In particular, it will
cooperate with partners to develop natural cosmeceutical products, he said.

VKIST is a public science and technology agency founded in
2015 under the support of the Government of the Republic of Korea, aiming to
become a leading research institute in applied science and advanced technology
development for the industrial sector and sustainable economic growth.

It was established through a joint project between the two
governments following an official visit by Vietnamese Prime Minister Nguyen Tan
Dung to the RoK in March 2012.

In September 2013, the Vietnamese Ministry of Planning
and Investment and the Korean Ministry of Foreign Affairs inked an agreement to
start the project for building VKIST, modeled after the Korean Institute of
Science and Technology (KIST), with an investment of 35 million USD sourced
from the RoK’s non-refundable ODA.

It is the largest project funded by non-refundable aid provided by the RoK
to Vietnam to date./.