Vietnam should further foster the application of science and technology in its production and business activities to boost its development in the future, an official has said.

Deputy Minister of Science and Technology Tran Van Tung made the comment during a conference in Hanoi on March 22, which discussed the role of venture investment in Vietnam’s technology commercialisation.

By 2015, Vietnam expects to have 3,000 businesses applying research-based models in science and technology.

The ministry aims to promote technology commercialisation towards the Silicon Valley Model , which is a venture investment fund for assisting newly-started and sci-tech enterprises in developing their ideas and sample products into commercial products.

Speaking at the event, Bora, a venture investor from the Silicon Valley network said the investment trend helps enterprises not only make profits, but also realise their dream and passion.-VNA