Scientific research given new incentive in Vietnam

Scientific researchers will have a new way to be honoured for their accomplishments in the field with the establishment of the Bao Son Prize.

The Bao Son Prize Award which was introduced yesterday in Hanoi and has been established and funded by Bao Son Tourism & Construction Investment Group with the approval of the Ministry of Education and Training. Their goal is to honour individuals and groups who develop outstanding scientific research that contributes significantly to the development of the country.

Under the consultancy and supervision of the College of Economics (Vietnam National University, Hanoi), the prizes will be awarded to excellent scientific research work in five fields including education and training, hunger elimination and poverty reduction, sustainable economic development, literature and arts, and biology (the latter two will be added beginnin in 2011).

According to Nguyen Truong Son, chairman of the Bao Son Group and also founder of the award, the first 2010 Bao Son Awards are valued at US$20,000 each. Every year, that value will go up by an additional US$10,000.

“The winning work must show its creativity and especially its applicability in Vietnam,” he said. “They should also help address some of the present problems occurring in the country during its development process.”

At the launching ceremony, director of the the College of Economics, Phung Xuan Nha, who has also contributed greatly to the establishment of the Bao Son Awards, revealed that he expected a lot, “The award targets sustainable development that serves to the benefit of the people. I believe that it will develop into a prestigious prize that everyone working in the scientific field will strive for.”