The National Foundation for Science and Technology Development (NAFOSTED) was founded by the Decree 122/2003/NĐ-CP of the Government of Viet Nam and officially started operation in 2008.
Affiliated with the Ministry of Science and Technology (MOST), the Foundation, located in Hanoi, is a legal entity, possessing its own seal, and is allowed to open accounts at the State treasury and banks inside and outside the country.

NAFOSTED operates for non-profit purposes, functions as a financing and lending capital medium for scientific and technological projects proposed by organizations or individuals.

Chairman of the Foundation’s Board of Trustees: Mr. Tran Quoc Khanh, Vice-Minister of Science and Technology.
DIrector of the Foundation’s Executive Office:             From 2007-2008: Mr. To Dinh Huyen

From 2008 to 2011: Mr. Phan Hong Son
From 2011: Mr Do Tien Dung