The National Innovation Center (NIC) at the Ministry of Planning and Investment (MPI) and Germany’s Siemens signed an MoU on January 26 regarding cooperation to develop Vietnam’s innovation ecosystem.

The signing ceremony was held on the sidelines of a conference held by the MPI and Siemens in Hanoi on leveraging technology to accelerate innovation and conquer the global market.

The agreement is based on using Siemens’ knowledge and experience in technology supply as well as tapping advantages and the NIC’s innovation system to help businesses looking to innovate and gain access to the global market.

It is also aimed at connecting Vietnamese enterprises with the German giant’s support and cooperation programs.

Siemens will sponsor 100 pieces of software on mechanical design, processing, and simulations for training on smart factories, particularly training programs in the field of semiconductors.

Vietnam’s innovation ecosystem has developed well over the past year, according to NIC Director Vu Quoc Huy.

In the Global Innovation Index (GII) 2023, released by the World Intellectual Property Organization (WIPO), Vietnam ranked 46th among 132 listed countries and economies, up two places from 2022.