The Hanoi People’s Committee has issued a plan detailing supporting measures for develop the science and technology sector in the city, targeting to have 200 enterprises in this field by 2025.

Illustrative photo.

As part of the plan, Hanoi’s authorities would focus on promoting incentives for the establishment of science and technology firms, while conducting surveys and building a database on firms operating in the city.

Additionally, the municipal government plans to provide training courses and enhance capabilities for consultants and organizations specialized in supporting science and technology companies; supporting them to improve corporate governance and commercialize products post R&D process.

Hanoi is also expected to help high potential science and technology firms create products capable of competing in the market and developing sustainably; instruct firms to apply for incentive polices and seek recommendations from the business community to finalize legal framework for science and technology firms.

In the coming time, Hanoi would continue encouraging innovative startups to pursue the science and technology approach, which is considered key to form a strong base of pioneering companies applying technologies and sciences for greater competitiveness.