The program has been funded by the UK Department for International Development, the US Agency for International Development, the Australia Development Agency, the Danish Embassy and the Finnish Embassy in Vietnam.
VID 2011 focuses on sub-themes such as (1) energy efficiency through creative ideas about receiving, creating and using new technologies/products to reduce waste energy and developing other sources of low-carbon energy substitutions, (2) traditional herbal medicines through initiatives to make the most of Vietnam's great potentials in scientific research and testing traditional herbal medicines and (3) agricultural products/services through better linking farmers with the domestic food market and export distribution channels.
The organizing board said that although power production increased an average of 12 percent annually, Vietnam still faces difficulties in keeping up with the growing demand for power. In addition, Vietnam has many-years experience in using traditional medicines including herbal drugs. The sub-themes are to direct projects with an emphasis on substituting expensive products such as imported medicines, and lower production costs to create better opportunities for the poor to access products/services they need.
Deputy Minister of Planning and Investment Nguyen Van Trung said that VID, an annual event, has been held since 2003 with a prime goal of research on the basis of consulting people about major concerns including national priorities under government programs. He also said that VID is to invest in community development initiatives and bring into play potentials of the community, particularly medium, small and super small-sized enterprises to create bigger interests for the poor and communities that do not have full access to major services, bridge the socioeconomic division, and contribute to sustainable development and better quality of growth in Vietnam.
Statistics by the Business Development Department show that in its eight years VID has received almost 1,600 domestic and foreign candidates. Most contest themes are to foster development and reduce poverty. Since 2003 almost 40 donors have gotten together with the World Bank to sponsor VID. They have contributed two-thirds of the awards, and more than US$2.4 million has been granted to 231 creativity projects in many areas.
Under VID 2011, each and every initiative will receive a maximum VND600 million, or about US$30,000, twice that in the previous years, to be more able to make the best use of their creativity and use new technologies/products to reduce waste forces, substitute expensive products, lower production costs, and help the poor and disadvantageous communities through bigger opportunities to access products/services they need.
Victoria Kwakwa, the World Bank director in Vietnam, said that medium, small and super small enterprises that account for almost 85 percent of all 471,000 registered businesses in Vietnam has played an important role in eradicating hunger, reducing poverty, developing the economy and creating jobs in the last decade. For this reason, VID 2011 is to seek and directly support creative initiatives that can certainly affect development areas through specific outcomes and expansibility./.
Source: VEN.