The Enterprise Development Agency under the Ministry of Planning and Investment invited organisations and individuals to participate in the Inclusive Innovation Project for Low-Income Individuals at a ceremony on February 10.

Nguyen Hoa Cuong, Deputy Head of the Agency and Director of the project’s management unit, said the project is being implemented from 2013 to 2018 in line with credit agreement No 5249/VN worth 55 million USD and signed on September 6, 2013 between the Vietnamese Government and the World Bank.

The development objective of the project is to help with the development and application of innovative technologies for the benefit of the population at the Base of the Pyramid (BoP).

Research organisations, universities, Vietnamese private enterprises, individuals and groups of innovators are encouraged to register for the project.

Addressing the event, Deputy Minister of Planning and Investment Dang Huy Dong, who is also Deputy Head of the project’s Steering Committee, said he hopes the project will attract numerous initiatives.

Victoria Kwakwa, the World Bank's Country Director for Vietnam, said the project was an important landmark in seeking creative ideas to support low-income populations.

The project will also stimulate the growth of small- and medium-sized enterprises, she said.-VNA