A forum on the Vietnam-Finland Innovation Partnership Programme (IPP) took place in Hanoi on July 21.
The event was jointly held by the Ministry of Science and Technology and the Hanoi Young Business Association.
IPP is an official development assistance project sponsored by the Vietnamese and Finish governments. It is designed to help boost innovation within business, encouraging such activities as upgrading technology, improving management and developing products, services and new marketing ideas.
In the first phase from 2009-2012, the programme will be implemented in 8 cities and provinces across the country including Hanoi, Hai Phong, Hue, Da Nang, Lam Dong, Ho Chi Minh City, Can Tho, An Giang with the initial budget of EUR6.2 billion.
IPP will support small and medium sized enterprises involved in information technology, bio-technology, engineering and green energy with high priority given to projects focusing on poverty reduction.
Tran Quoc Thang, IPP Director, said that Vietnamese businesses are reluctant to invest in developing products. Therefore, IPP will help promote their innovation activities and improve their competitiveness both in domestic and international markets.