Hanoi calls on IT firms to set up shop

HANOI – The government of Hanoi City gives priority to the information technology (IT) sector, thereby facilitating companies to set up shop there, according to Nguyen Duc Chung, chairman of the capital city, at a dialogue with the startup community on August 25.

He said Hanoi is about to launch Vietnam’s startup opportunity finder startupcity.vn on October 10, with an aim to connect technology ecosystem players with new business opportunities.

Phan Lan Tu, director of the municipal Department of Information and Communications, said the city has 16,700 startups, with 800 of them active in the IT sector.

Many incubators like the IT Firms Incubator and the CMC Creativity Center have been set up in Hanoi so far this year. To date, the city is home to 15 incubators.

The director noted the number of incubators and startup-supporting centers in Hanoi has been rising, but they still lack the connection with each other, as well as the absence of policies to establish a single network of these centers to help them share experiences, facilities, mentors and investors.

She said the city will establish a startup ecosystem portal and a startup database. In particular, the portal in both Vietnamese and English languages will provide necessary information for startups and investors.

Besides, municipal authorities will find ways to build a shared service area to support startups. The facility will include co-working space, meeting and training rooms, incubators, and other facilities.

Notably, Hanoi will come up with mechanisms and policies which encourage private investors to set up venture capital funds.

Nguyen Trung Chinh, chairman of CMC Corporation, said at the dialogue that Hanoi should offer incentive policies on land rent and corporate income tax to hi-tech companies, including personal income tax incentives for experts in the sector.

Especially, Chinh said, the administrative procedures should be streamlined so as to create the most optimal conditions for local firms, especially startups, to grow.

He also proposed the municipal government give creative and private companies the green light to implement solutions on urban management, e-governments and smart cities. Besides, Hanoi should let them develop public services under the public-private partnerships.

Hanoi should have sufficient land to build centers for creative technology research. CMC is willing to develop the creative technology research zone that has research centers, incubators and labs, he said.

Hanoi City Chairman Chung pledged to create utmost favorable conditions for startups. The municipal government will team up with central management agencies to formulate policies.

Chung also said the city will kick off work on a software park on Vo Nguyen Giap Street in October.  Hanoi will hand over the land to enterprises responsible for building the zone.

Source: The Saigon Times