Hanoi to spend over $13 million on empowering SMEs via digital transformation

Hanoi plans to spend an estimated VND315.1 billion (US$13.3 million) on supporting enterprises in digital transformation.

Hanoi’s Department of Planning and Investment is the agency in charge of implementing the plan. Photo: Pham Hung/ The Hanoi Times

It is part of the plan “Supporting small and medium enterprises (SMEs) in digital transformation in the 2021-2025 period”, recently approved by Hanoi’s People Committee on September 23.

Of the funding, VND195.3 billion ($8.2 million) will come from the city's budget, and the rest from other sources up to VND119.8 billion ($5 million). Hanoi’s Department of Planning and Investment is the agency in charge of implementing the plan.

The funding includes three supporting packages, one ranging from VND50 million ($2,107) to VND100 million ($4,214) per contract per year for those starting to embark on digital transformation, and another package to provide tools and solutions related to data safety, management of customer and sales channel system. The remaining package will help enterprises improve exports and develop their brand and products in the international market.

The plan sets out six tasks and solutions, including building tools, manuals, software, and databases for digital transformation; raising awareness of digital transformation; promoting digital transformation activities in enterprises; training and developing human resources for SMEs in digital transformation; supporting digital transformation packages for SMEs at different levels as well as connecting and forming a network of consultants and promoting the digital transformation ecosystem of the city.

Under the plan, by 2025, the city sets the goal of making 100% of enterprises aware of digital transformation and supporting 90,000 newly-established SMEs with readiness evaluation tools and other solutions. All enterprises will use e-invoices and e-signature.