vietnam to build three regional innovation and startup support centres picture 1
Vietnam has emerged as the innovation startup hub in Asia and the Pacific. (Illustrative image)

These hubs will be built in Hanoi, Da Nang, and Ho Chi Minh City, said Minister of Science and Technology Huynh Thanh Dat, while answering National Assembly deputies’ questions in Hanoi on June 7.

The Ministry of Science and Technology has completed all necessary procedures, with decisions set to be made in June or July at the latest, said Minister Dat.

He briefed deputies on the four-year operation of the National Innovation Center at Hoa Lac Hi-Tech Park in Hanoi, outlining that the centre has produced many models worth being replicated across the country, although each locality has its own characteristics that must be adjusted to best suit their conditions.

“It is necessary to have specific policies for innovation activities, including tax reduction policies, connection with venture capital funds, and development of co-working spaces for scientists, researchers, and investors,” said the Minister.

Presiding over the inquiry, National Assembly Chairman Vuong Dinh Hue said the National Innovation Center at Hoa Lac Hi-Tech Park represents the Government’s big project aimed at supporting and developing the nation’s start-ups and innovation ecosystems, thereby contributing to the growth models based on science and technology.

It is anticipated that the scheme will house domestic and international innovative businesses, laboratories, offices of large corporations, as well as a working place of leading experts and scientists. The centre will officially be inaugurated shortly and its success story should be replicated in regions across the country, he suggested. 

At the same time, he said it is imperative to encourage foreign businesses to invest in research and development centres, as well as innovation centers nationwide. He cited Samsung as a case in point having poured mammoth investment into its research and development centre in Hanoi that is capable of housing up to 3,000 domestic and foreign engineers and scientists working on information technology.

“Learning from the Hoa Lac National Innovation Center, we will consider further deploying regional innovation startup centers in Da Nang, Ho Chi Minh City and other regions,” said Hue.

Source: VOV