Ministry of Science and Technology and World Bank foster partnership in research infrastructure and National Venture Capital Fund

<p style="text-align: justify;">On June 29, 2026, Minister of Science and Technology Vu Hai Quan held a working session with Ms. Mariam J. Sherman, the World Bank Country Director for Vietnam, Cambodia, and Lao PDR, to discuss key cooperation initiatives. The discussions centered on advancing national research infrastructure, streamlining laboratory operations, attracting talent, commercializing technology, and designing a National Venture Capital Fund.</p>

During the meeting, Minister Vu Hai Quan highlighted that Viet Nam is actively implementing critical tasks to realize Resolution 57, with a particular focus on upgrading the national laboratory network, enhancing research capacity, and accelerating technology transfer.

Aligning with the World Bank’s proposed support pillars, the Minister suggested both sides intensify cooperation across four strategic orientations:

- Upgrading national research infrastructure, while refining governance models, operational regulations, and resource-sharing mechanisms for key and shared laboratories.

- Co-developing platforms to bridge the gap between lab research and market deployment, effectively connecting research institutes, universities, enterprises, and startups in priority tech sectors such as biotechnology, advanced materials, and semiconductors.

- Collaborating on policy advisory for the design of financial mechanisms and models, and learning from international experience regarding the National Venture Capital Fund, with a focus on co-investment models, risk management, risk-tolerance mechanisms, and capital divestment.

- Strengthening partnerships to develop high-tech human resources, and attracting outstanding local and international experts to lead and operate national laboratories and research centers.

Ms. Mariam J. Sherman affirmed the World Bank’s commitment to supporting Vietnam through technical assistance, global knowledge sharing, private sector engagement, and the exploration of tailored financial instruments. She emphasized that these collaborative areas such as talent, research infrastructure, business connectivity, and innovative financing are mutually reinforcing, laying a solid foundation for Viet Nam to achieve its science, technology, and innovation goals.

Concluding the session, both sides agreed to maintain technical exchanges, designate contact points, and deliberate on specific joint projects, aiming to build a substantive and impactful partnership between the Ministry of Science and Technology and the World Bank in the coming time./.