At the “Dien Hong Conference” held on the morning of August 29, scientists, university leaders, and tech entrepreneurs gathered with shared aspirations: that Hanoi must implement focused policies to attract talent in science and technology, and build on its 2,500-year tradition of innovation, inspired by the legend of Saint Giong.

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Associate Professor Bui Thi An. Photo: N. Huyen

The Hanoi People's Committee organized the conference to develop resolutions by the city’s People’s Council aimed at advancing science and technology, in alignment with the Politburo’s Resolution No. 57-NQ/TW and the Capital Law No. 39/2024/QH15.

Le Hong Son, Permanent Vice Chairman of the Hanoi People's Committee, chaired the event. Hundreds of scientists, university rectors, and enterprise leaders participated, united by the goal of turning Hanoi into Vietnam’s "innovation capital."

Associate Professor Bui Thi An, Director of the Institute of Natural Resources, Environment and Community Development and President of the Hanoi Women Intellectuals Association, praised the city for quickly gathering feedback and preparing to issue six new resolutions to implement the policies of Resolution No. 57-NQ/TW and the revised Capital Law.

She emphasized that these moves demonstrate Hanoi’s pioneering and determined spirit in translating political will into concrete action. The six resolutions address vital aspects such as special mechanisms, venture capital funding, tech trading platforms, controlled testing environments, and ecosystem support for innovation.

She added that such comprehensive planning is essential to build a complete innovation ecosystem and avoid fragmented policies. It encourages universities, research institutions, and enterprises to participate with greater confidence, minimizing the fear of risk. According to An, Hanoi is fully capable of becoming the national leader in digital economy, green economy, and circular economy development.

For successful implementation, she recommended clear delegation of responsibilities to individual agencies, the establishment of periodic evaluation mechanisms (every 6-12 months), and ensuring policies align with the actual needs of businesses, universities, and startups. She also urged the removal of major bottlenecks in administrative procedures, investment capital, tech transfer, and experimental policy frameworks.

Resources should be mobilized from both the state budget and private sector, particularly for managing the venture capital fund. Furthermore, emphasis must be placed on training management personnel with innovative thinking, enhancing transparency, and preventing vested interests.

Hanoi, she added, must proactively connect with central government bodies, other provinces, major enterprises, research institutes, and universities to form a national and international innovation network. Public communication is also key so that communities understand their rights and responsibilities within the ecosystem.

Correct institutional frameworks will be a driving force

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Dr. Pham Duc Nghiem, Deputy Director of the Department of Startups and Technology Enterprises. Photo: N. Huyen

Professor Nguyen Dinh Duc, from the University of Engineering and Technology under Vietnam National University, Hanoi, stressed that the revised Capital Law has opened numerous unique mechanisms which, if properly implemented, will power Hanoi’s development.

He praised the policy to attract international experts but emphasized that transparent processes and political backing are needed to form strong, internationally linked research groups.

Dr. Pham Duc Nghiem, Deputy Director of the Department of Startups and Technology Enterprises under the Ministry of Science and Technology, stated that bold policy must be matched with bold execution. Above all, trust must be placed in scientists.

He shared a surprising insight: “When studying the history of venture capital, I discovered that Hanoi may have been the first place in the world to apply the concept.”

He referenced the legend of Saint Giong: “Over 2,500 years ago, when the country faced invasion, the king called for heroes. A three-year-old boy who couldn’t speak before suddenly requested armor and a horse to fight. The villagers 'invested' their rice to feed him. Giong grew rapidly, donned iron armor, and defeated the enemy using an iron rod and even clumps of bamboo when the rod broke. At the time, no one knew if this ‘investment’ would succeed, but they believed.”

Nghiem concluded: “That story embodies the spirit of venture capital. Hanoi must believe in its scientists, or it won’t be able to rally their strength for breakthroughs.”

In his closing remarks, Vice Chairman Le Hong Son acknowledged the insights and urged departments to continue refining the six resolutions, ensuring they are realistic, targeted, and feasible, to help Hanoi become the true innovation capital of the country.

N. Huyen