Korea - Vietnam Incubator Park (KVIP) based in Can Tho city is the result of a comprehensive cooperation program between the Government of Vietnam and the Government of South Korea. Located in Tra Noc Industrial Park 2, KVIP mainly supports innovative research and development and incubates processing technology for new agricultural and seafood products.

The KVIP project was implemented by the Korean and Vietnamese governments in 2011. It started construction on November 23rd, 2013, and was inaugurated on November 14th, 2015. The total investment capital of the project is 21.13 million USD. Specifically, the Korean Government provides a non-refundable grant of 17.7 million USD to support the completion of facilities and technical infrastructure of the Incubator project on an area of 2 hectares at Tra Noc Industrial Park 2, the rest is the counterpart capital of the Government of Vietnam.

Can Tho city has a legal framework governing the KVIP’s operations. The Prime Minister also issued Decision 1193/QD-TTg on piloting tax, credit, scientific research, and human resource training policies specifically designed for the KVIP.

The incubator encourages companies to innovate technology, supports them to transfer technology, select and adapt to advanced technologies in Vietnam and abroad; strengthens scientific and technological cooperation with domestic and foreign organizations and individuals; and strengthens Vietnam - South Korea bilateral cooperation in a number of strategic industries, such as agricultural and aquatic product processing and mechanical engineering, to soon form and develop a science and technology market and make Can Tho a science and technology center of the region.

In addition, KVIP has supported more than 1,020 local students to use its equipment for graduation projects and scientific topics. Currently, the incubator continues to invite organizations and individuals to study and incubate technologies to create many new products of high-added value. At the same time, it is ready to support students to study, conduct scientific research and start up a business.

Currently, KVIP is a scientific and technological non-business unit, directly under the Department of Science and Technology of Can Tho city.

At the working session, Mr. Min Moonki, Commercial Attaché of the RoK Embassy in Vietnam, said that Can Tho city needs to improve transport infrastructure and issue special policies to attract businesses, especially those from the RoK.

Mr. Min Moonki wished more Vietnamese aquatic products and farm produce, especially rice, would be exported to the RoK in the near future through the operation model of KVIP. According to him, Korean enterprises also expect to develop solar and wind power plants used in industrial production. He hoped that the O Mon thermal power plant would be put into operation soon to draw investment from foreign firms, including those from the RoK.

Vice Chairman Nguyen Ngoc He said that the KVIP project has been deployed to connect Korean businesses and Can Tho city as well as the southern provinces. Vice Chairman Nguyen Ngoc He wished to cooperate with RoK in such fields as new energy, hi-tech agriculture, and export of rice and aquatic products. He expressed his hope that Mr. Min Moonki will serve as a bridge linking Korean investors with Can Tho.