The institute of space technology will be a national leading research institute in the field of high technology and space technology. It will carry out research into basic issues related to space science and technology, develop small satellite technology, apply space science and technology, provide added services in space technology, develop infrastructure facilities for space technology research and application, and consult state management organizations about space technological development and application policies and legal issues related to the use of space.

The institute which will gather leading professors and scientists in high technology and space technology is presided over by Professor Dang Vu Minh who is also director of the Vietnam Academy of Science and Technology.