The National Foundation for Science and Technology Development (NAFOSTED) was founded in 2003 and officially started operating in 2008. Affiliated with the Ministry of Science and Technology (MOST), the Foundation is a legal entity located in Ha Noi. NAFOSTED operates for non-profit purposes. It provides grants and loans to organizations or individuals for carrying out scientific and technological projects.
The National Foundation for Science and Technology Development is committed to:
- Building a durable, innovative and conducive environment to research activities at universities and institutes;
- Encouraging international cooperation for Vietnamese scientists to approach international research knowledge and to attract external funding to Vietnam’s scientific projects;
- Promoting research efforts in enterprises, with focus on core technologies development contributing to national economic growth and competitiveness.