The conference was chaired by Mr. Nguyen Truong Son - Chairman of Bao Son Group, President of Bao Son Foundation; Prof. Phung Xuan Nha - VNU Vice President, UEB Rector, Prof. Nguyen Hong Son - Vice Rector of University of Economics and Business - VNU, which is the executive unit of the prize.

Attending to the press conference were Prof. Le Bo Linh, Deputy Chairman of the Commission of Science - Technology and Environment of the National Assembly and several officials, lecturers and press agencies.

In 2010, Bao Son prize focuses on three priority areas: poverty alleviation, sustainable development, education - training talents for the country with the value of 20,000 USD /prize. From 2011, the prize value increases 10,000 USD each year, expectedly to rise to 100.000 USD/prize in 2019 and will reach the value of 1 million USD/prize in 2117. From 2011, the prize expands to two more fields: Literature and Medicine.

Mr. Nguyen Truong Son, Chairman of the Group Baoshan, President of the organizing committee said the amount of Bao Son prize is deducted from Bao Son with the initial capital of 20 million USD. This amount will be deposited in banks and its interest will be charged for the next prizes. Therefore, the prize value will increase each year and is estimated to exeed the value of Nobel Prize by 2017.

Organizing Committee responds to questions from the press

Bao Son Prize will be organized to present annually.

Founded by Bao Son Group; empowered the University of Economics and Business - VNU to be the permanent agency in the 5-year term (2010 - 2015). University of Economics and Business - VNU has the responsibility for developing and proposing plans to hold annual awards, issue the guidelines of instruction, registration; execute the process of admission; manage financial and administrative affairs and brand name.

At the conference, Dr. Le Bo Linh congratulated and officially opened the Bao Son Prize.

Prof. Phung Xuan Nha speaks at the conference

At the ceremony, Prof. Phung Xuan Nha has highly appreciated the practical meaning of this activity. He said that although the prize is raised by an enterprise, it is set towards the sustainable value and benefits for the community. Bao Son Prize recognizes the outstanding contributions of scientists, educators and encourages initiatives for community prosperity. Especially, in the field of science and technology, the prize focuses on the works with high practical application. He also said that the prize has a long-term and sustainable vision, effective orientation for many individuals who strive for excellence, dedication for the goal of common development. Bao Son prize is materially worthy to encourage scientists to do research more actively. Highly appreciating the founders’ view is to create sustainability, Prof. Phung Xuan Nha believed that Bao Son Prize need to develop to build a brand for those who have contributed to the community.