Many start-ups programs have been launched. (illustrative photo)

The Hanoi People’s Committee launched 490 technology research projects in the past 5 years. 5 projects received awards from the Vietnam Fund for Supporting Technological Creations (VIFOTEC). 22 projects have registered for intellectual property and industrial patents. 22 specialties of local craft villages have established trademarks.

Hanoi ranks second after Ho Chi Minh City in the number of technology companies. Le Van Hoat, a former Vice Chairman of Hanoi People’s Committee, said: “We have to acknowledge the importance of technological development and innovative businesses. Innovative start-ups have an open mindset and access to new technology.”

Hanoi has systematically encouraged investment in new inventions and research. It considers connectivity between scientific research institutions and enterprises to be a decisive factor in the development of the technology market.