Hà Nội launches fund, incentives to boost innovation and digital economy

Hà Nội launches fund, incentives to boost innovation and digital economy

Hà Nội will establish a science, technology and innovation development fund from July 1 and roll out a series of incentives to support digital transformation and start-ups under three resolutions approved by the municipal People’s Committee on June 15.

Hà Nội's traffic control centre. Hà Nội authorities have introduced a series of incentives to support digital transformation. — VNA/VNS Photo Trung Nguyên

Hà Nội will establish a science, technology and innovation development fund from July 1 and roll out a series of incentives to support digital transformation and start-ups under three resolutions approved by the municipal People’s Committee on June 15.

The resolutions are designed to implement a special mechanism under the Capital Law 2026 and create an integrated policy framework linking financial resources, digital infrastructure, start-up ecosystems and intellectual property protection to support the city's innovation-driven growth strategy.

Specifically, Hà Nội will set up the science, technology and innovation development fund as an off-budget State financial fund under the city People's Committee.

The fund would help manage and use the city's science and technology budget more effectively, while mobilising private resources to promote science, technology and innovation as key drivers of a knowledge-based economy.

It will be allowed to finance or commission research projects, provide interest-rate support, invest in science and technology infrastructure, assist in the commercialisation of intellectual property assets and support start-up and innovation ecosystems.

The second resolution focuses on accelerating the digital transformation and developing digital products and services across the city.

It prioritises investment in digital infrastructure, digital platforms, data systems, artificial intelligence, e-commerce and emerging digital technologies.

To strengthen digital capabilities, Party members, civil servants, public employees and workers in the city's political system will be provided with training support of up to VNĐ3 million (US$115) per person annually.

City leaders and managers will also receive a one-time subsidy of VNĐ20 million to purchase laptops or tablets for remote work and administration.

Small and medium-sized enterprises, cooperatives and household businesses will be able to access digital transformation support through vouchers covering digital products and services, consulting, training, cybersecurity solutions and e-commerce tools.

Under the third resolution, which targets innovation start-ups and intellectual property protection, certain start-up projects will be eligible for support covering up to 100 per cent of consultancy costs, access to incubation facilities and technical infrastructure for product development and testing.

The city will also cover the full cost of participation in innovation programmes, competitions, forums and technology showcases organised by municipal authorities.

Enterprises in their first five years of establishment will be entitled to full support for intellectual property registration and product or service quality certification costs.

One-person companies will also receive full support for digital signatures, electronic invoices, accounting software and cloud-based business management platforms during their first two years of operation.

The three resolutions will take effect on July 1. 

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