Hanoi to establish innovation centre as joint stock company to drive tech-led growth

Hanoi, July 14 (VNA) – Hanoi plans to establish an innovation centre following the model of a joint stock company to consolidate the capital city’s position as Vietnam’s leading innovation hub, according to a draft resolution submitted to the municipal People’s Committee this week.

The report showed that Hanoi is already home to over 70% of scientific institutions, 82% of national laboratories, and 65% of leading scientists.

It also has over 1,000 startups, or more than 26% of the total number of startup firms in Vietnam, as well as 38% of business incubators and 40% of accelerators.

Notably, Hoa Lac Hi-tech Park has been transferred to be under the city’s management since 2023, adding a critical infrastructure for the city’s innovation ecosystem.

The Hanoi Innovation Centre is expected to help concentrate resources and create breakthroughs for rapid and sustainable growth.

Under the draft, the innovation centre will operate as a joint stock company. It will also advise on science and tech policy, support commercialization, build digital infrastructure, and manage startup incubators and accelerators.

In addition, the centre will run programmes to train high-tech human resources, develop urban smart data platforms, and establish a digital asset exchange and an innovation fund to support startups and venture financing.

It will also focus on promoting public-private-academic partnerships, supporting tech transfer, and building a community of experts and innovation-driven enterprises.-VNA