Vietnamese Government has recently talked a lot about Vietnam becoming a start-up country and Hanoi was eager to become a start-up city. In May this year, the Prime Minister approved a draft project called “National Programme to Support Innovative Startup Ecosystem in Vietnam by the year 2025” to create a favourable environment to promote and support the development of start-ups with high-growth potential. The project has set the following targets for 2020: complete the main legal framework for a start-up ecosystem; run an online portal for the National Innovative Start-up Ecosystem; support about 800 start-up projects and 200 start-up enterprises, of which 50 will raise follow-on investment from private venture investors or will undergo mergers and acquisitions worth about 1 trillion VND (about 50 million USD). By 2025, the project is expected to have supported 2,000 start-up projects and 600 start-up enterprises, of which 100 will have raised follow-on investment from private venture investors, or will have undergone mergers and acquisitions worth about 2 trillion VND.
Operating automatical device at Rang Dong Vacuum Flask JSC
|
In the first six months, the department also finished preparing an information technology development programme for the 2016-20 period and a plan to build a software and digital content park. By the end of June this year, the capital city had issued investment licences to 98 foreign direct investment firms in the field of information and communications technology. Among them, 29 are new projects with a total investment capital of 1.55 billion USD.
In June alone, Hanoi’s total turnover from the export of electronics, PC accessories and peripherals reached 901 million USD. Regarding building the e-government, Hanoi ought to enhance IT application in administrative management to make it easier for enterprises and the people. The Government encourages Hanoi to pilot international initiatives and practices in restructuring State enterprises and managing public assets, thus increasing transparency and reducing wastefulness, he stated.
The city’s authorities asserted that they are committed to bettering the investment environment and focusing on administrative reform, towards attracting resources for Hanoi’s development and realising its targets of international integration. Specific measures will be rolled out to improve the quality and competitiveness of the economy, the city will also concentrate on building and upgrading infrastructure facilities, especially those for transport, water drainage and supply, electricity and telecommunications.
In particular, as of July 20, the total means of payment increased by 9.84% compared to December of 2015, capital mobilization increased by 10.17%, credit growth was estimated to increase by 8.02 % against the same period last year. Despite the sharp increase in the total means of payment, interest rates were stable showing that the inflation pressures were still suitable with monetary market movements. The credit growth in the first seven month was higher than the same period, having positive effects on production and economic growth. Notably, the proportion of medium and long-term loans had a high increase rate, at more than 10%, which supports economic growth in the medium and long term.
According to Chairman of the municipal People’s Committee Nguyen Duc Chung, Hanoi is calling for investment in 43 projects in 2016, including 15 industrial and trade projects, and 11 for building social infrastructure. Representatives from associations and enterprises operating in the city proposed measures to improve the business climate and draw investment to Hanoi, how best to use official development assistance (ODA) capital, and ways to assist the city’s enterprises to access capital sources and loans. They also gave recommendations to attract resources for developing high-tech health care and discussed the preservation of Hanoi’s cultural identity.
