Mr. Tran Anh Tuan, Director of the Department of Science and Technology (DOST) of Hanoi.
Hanoi Opens Doors 24/7 to Welcome Investors
Recently, at a Vietnam Enterprise Management Forum, Mr. Tran Anh Tuan, Director of the Department of Science and Technology (DOST) of Hanoi, shared that Hanoi holds immense potential but is currently in a situation of “having much yet seeming to have nothing.” Many talented individuals have left Hanoi to pursue opportunities in Ho Chi Minh City, Da Nang, or abroad in ASEAN countries and China.
The vision and message from city leaders is to transform Hanoi into the world’s most attractive investment destination. Over the past year, Hanoi has begun to materialize major initiatives, drawing from Ho Chi Minh City’s Resolution 98 and other key resolutions such as Resolution 68.
A critical factor in enhancing competitiveness is policy. Vietnam is undergoing significant changes, and Hanoi is no exception.
Hanoi has leveraged the Capital Law in conjunction with the Law on Science, Technology, and Innovation, Resolution 15 of the Politburo, and other legal frameworks to enact six pivotal resolutions. Among these, some provisions are unprecedented in Vietnam, such as the sandbox resolution.
Additionally, Hanoi is the first locality to establish a Venture Capital Fund through a dedicated resolution. The city has allocated an initial “seed capital” of VND 600 billion and attracted nearly 10 strategic investors. This fund will operate entirely on market mechanisms, free from state entity involvement, and managed by a Fund Council to streamline processes and share risks.
Furthermore, Hanoi has introduced resolutions on breakthrough science and technology development, fostering an innovation ecosystem, and establishing a Technology Trading Floor.
Recently, the National Assembly approved special resolutions for Hanoi within just one week. Moving forward, Hanoi will continue to amend the Capital Law and update policies to strengthen its global competitive position.
Although not yet officially designated as an International Financial Center, the DOST Director affirmed that Hanoi will undoubtedly become one in the near future.
“If you are interested in Hanoi, or previously considered investing but were deterred by challenges, now is the time to return. From the highest levels to departments like ours, we are ready to welcome you 24/7. I and city leaders emphasize: Hanoi has changed—significantly different from before,” Mr. Tran Anh Tuan invited.
Numerous Businesses Ready to Join the Sandbox
According to Mr. Tran Anh Tuan, Hanoi aims for the digital economy to account for at least 40% of GDP from 2026 to 2030, alongside a targeted economic growth rate of 11% or higher in the coming years.
Achieving this with traditional economic and growth models is challenging and unsustainable. Therefore, the path forward lies in science, technology, innovation, and new growth models like the digital economy.
Many businesses have engaged with Hanoi. The city will be the first to allocate budget funds to purchase research outcomes from scientists for commercialization, testing, and integration into daily life.
On December 22, Hanoi will sign a contract with a research group for a cancer detection kit that has been patented. City leaders and the DOST are committed to acquiring this technology to prevent its export abroad.
Regarding Government Decree 271 on establishing spin-off enterprises, Hanoi has collaborated with all universities. On December 22, the city will sign five MOUs and provide funding to five research groups to establish spin-off companies from major universities.
In the blockchain sector, Hanoi is working with capable entities to address traceability in food safety, thereby rebuilding consumer trust.
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Hanoi is actively seeking skilled professionals to develop a robust data infrastructure for its new phase of growth, according to Tran Anh Tuan, Director of the Hanoi Department of Science and Technology.
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