City industry developer sets up science-tech fund of $6 million

The Saigon Industry Corporation (CNS) has set up a fund for science and technology of VND136 billion ($6,025,547) since 2014, said its representative yesterday.

Of the amount, more than VND100 billion has been used for projects of investment expansion  and production renovation.

The company finished has cooperated with institutes, universities, startup groups and small and medium businesses in carrying out researches and development projects for the city’s growth.

Additionally, the company promoted investment in products, applied advanced management systems to monitor its activities and technology.

People’s Committee Deputy Chairman Le Thanh Liem said that the company should continue its activities and participate in the city’s economic development program especially the program to boost supporting industry and IT application.

By Hong Hiep - Translated by Uyen Phuong

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