In a development aimed at bolstering biotechnological education and collaboration in Asian countries, the Federation of Asian Biotech Associations (FABA) has inked a Memorandum of Understanding (MoU) with Thu Dau Mot University. This agreement, signed on September 23, 2024, paves the way for the establishment of a FABA chapter in Vietnam.
The new chapter at Thu Dau Mot University will focus on nurturing and leveraging local academic prowess to advance biotechnology research and development. Prof Reddanna, Executive President, FABA, highlighted the initiative’s strategic importance, stating, “This expansion into Vietnam is important for FABA as we aim to integrate the rich educational resources of Thu Dau Mot University with other established FABA chapters around the world and to foster a thriving biotech community.” Thu Dau Mot University (TDMU) is an educational institution in Binh Duong Province, Vietnam.
The collaboration will include joint research projects, seminars, and workshops aimed to enhance the educational landscape, promote innovation and entrepreneurship, and provide a platform for emerging biotech professionals in Vietnam. This initiative is expected to contribute to the biotechnological prowess of the region.
FABA further extended its collaborative efforts by signing another MoU, with the Binh Duong Business Association (BDBA), Vietnam. This MoU is designed to strengthen business ties and promote collaborative ventures between Vietnam and India, particularly in the biotechnology and pharmaceutical sectors.
The partnership with BDBA is set to facilitate business activities including joint ventures, business matchmaking, and direct trade connections. “This partnership not only aims to advance scientific collaboration but also to catalyse the business dynamics between the two countries, leveraging the biotechnological advancements for commercial success,” said Dr Ratnakar Palakodeti, Secretary General, FABA.
Through this strategic alliance, both organisations aim to unlock potential trade and investment opportunities, fostering economic growth and innovation in both Vietnam and India.
Chakravarthi AVPS, Advisor-International Affairs at FABA, stated: “This new chapter in Vietnam marks a pivotal moment for biotechnological advancement and international collaboration. By bridging the expertise of FABA with the vibrant academic and business communities in Vietnam, we are setting a new standard for innovation and cross-border cooperation.”
Following the signing of the Memorandums of Understanding (MoUs), the Vietnam delegation embarked on a detailed tour of key biotechnological incubation centers, including ASPIRE BioNest and TBI. During their visit, the delegation interacted with various startups, gaining valuable insights into innovative biotechnological projects. These interactions provided opportunities to discuss potential areas for collaboration, focusing on advancing biotechnological innovations and applications.
Adding to their comprehensive tour, the delegation also visited Indian Immunologicals. At this leading immunobiological company, they explored advanced biotechnological processes and engaged in discussions on strategies for potential technological transfers and collaborations.
These MoUs were signed by Dr P Ratnakar, Secretary General of FABA and Dr Nguyen Thi Lien Thuong, Director, Director, Institute of Innovation in Pharmaceutical and Healthcare Food, Thu Dau Mot University and Nguyen Thanh Tin from Binh Duong Business Association in the presence of Pallu Reddanna, Chakravarthi AVPS, and other Executive members of FABA.