Danang strides toward becoming a tech startup hub
The city's support includes exempting innovators from personal income tax and providing controlled trial licenses for unregulated new technologies for up to three years.
THE HANOI TIMES — Danang, Vietnam's central city, has offered many favorable policies and actively promoted investment in its innovation ecosystem to become a leading technology startup hub in Vietnam and Southeast Asia by 2030.
Japanese enterprises explore the science, technology and innovation ecosystem at Danang's Software Park No.2. Photo: VNA
Startups in IT, AI, and blockchain, traditional strengths of the city, are particularly benefiting from international funds to scale products and enter global markets, according to Le Son Phong, Deputy Director of Danang’s Department of Science and Technology.
Since 2021, Danang has deepened its cooperation with Japan, facilitating direct engagement between local startups and Japanese financial institutions. Local entrepreneurs, who are often small and under-resourced, appreciate the city’s efforts to open doors to global funds and investors through partnerships with those in China, South Korea, Singapore, and Australia.
"The city has issued nearly 30 specific science, technology, and innovation policies with a focus on tax exemptions for innovative activities, access to science and technology infrastructure, and targeted aid for AI and semiconductor development," stressed the official.
Vo Duc Anh, Deputy Director of the Danang Innovation and Startup Center, said the city has offered many ways to help startups, including waiving personal income tax for innovators and granting controlled trial licenses for new, unregulated technologies for up to three years.
Notably, AI and semiconductor projects can enjoy three years of free use of Software Park No. 2 facilities. Dozens of ventures already occupy workspace there, within the AI and semiconductor research center, said Anh.
