The Research Centre for Applied Mathematics in Economics, Finance and Banking was launched in Hanoi on January 12 by the Vietnam Institute for Advanced Study in Mathematics (VIASM) and the Bank for Investment and Development of Vietnam (BIDV).

Speaking at the opening ceremony, Bui Van Ga, deputy minister of Education and Training, said the Lab would study and experiment with econometrics and financial mathematics to analyse, forecast and manage economic development.

The lab would help with strategies for increasing socio-economic, and science and technology development by 2020, Ga said. It would also contribute to the National Mathematics Development Plan.

Ngo Bao Chau, scientific director of VIASM, said the lab would use mathematical models to serve government agencies in managing macroeconomics and making financial investment decisions. It would also encourage the country to use mathematical theories more in achieving its economic, financial and banking goals, he said.

VIASM and its partner, the Bank for Investment and Development of Viet Nam (BIDV), will develop training programmes in econometrics and other subjects relating to finance and economics, as well as launch projects to study how math applies to economics, banking and finance.

BIDV will also provide FMathLab a loan of VND22 billion (US$1 million), and support the lab as it opens branches in Binh Dinh Province's Quy Nhon City and HCM City.

BIDV experts and government officials will help the lab study and develop math applications for the banking and financial sectors.

New home for young

On Saturday, Ngo Bao Chau and his partners officially opened the Talent Incubator Park House in Ha Long City in Quang Ninh Province.

Chau said at the opening ceremony that the house would provide consultations on education and short-term accommodation for Vietnamese and foreign teachers, as well as organise cultural and educational events. It would also organise training programmes for teachers and students.

He said he expected the House would be able to foster and connect talented young people from all over the country, particularly those coming from disadvantaged areas, in 2015. It would be a non-profit organisation, and its income would be spent on educational activities, he said. The house has worked with the Quang Ninh Department of Education and Training and VIASM to invite experienced lecturers to teach 100 highly distinguished students in the province.

VNS