Hanoi moves to set up innovation hub
The launch is expected to drive Hanoi to become a leading national hub for science, technology and innovation and to strengthen its regional position in the knowledge-based economy.
THE HANOI TIMES — Hanoi is set to officially launch the Hanoi Innovation Hub Joint Stock Company (HiHUB) on February 26, marking the establishment of a new institution to coordinate the city’s innovation ecosystem.
Electronic devices for export produced at Rhythm Precision Vietnam Co., Ltd., Noi Bai Industrial Park, Hanoi. Photo: Pham Hung/The Hanoi Times
The event takes place as the capital accelerates the rollout of mechanisms and policies to advance science, technology and innovation in line with the Capital Law and Resolution No. 57-NQ/TW of the Politburo on the development of science and technology, innovation and national digital transformation.
Under the plan, HiHUB will operate as a joint stock company with majority state ownership. The charter capital is set at VND100 billion (US$3.9 million), with the Hanoi People’s Committee holding a 70% stake.
HiHUB is tasked with operating the capital’s innovation ecosystem and implementing a controlled regulatory sandbox mechanism. It will develop incubation and startup acceleration programs, connect investors, experts, research institutes, universities and enterprises, and promote international cooperation in high technology.
The center’s headquarters is expected to be located at 46 Tran Hung Dao Street, Cua Nam Ward. A network of satellite hubs will also be established at several locations across the city to expand creative space and support startups and technology firms.
The launch of HiHUB is expected to mark a significant milestone in Hanoi’s roadmap to become a leading national center for science, technology and innovation, with ambitions to gradually reach regional standing in the knowledge-based economy era.
