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VIETNAM: Hà Nội Launches Start-Up City Program

The Department of Information and Communications of Hà Nội (DIC) has worked with several agencies to develop an information technology business incubator scheme to promote start-ups.

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 VNĐ1 trillion (about US$50 million).

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 VNĐ2 trillion.

In the first six months, the department also finished preparing an information technology development program for the 2016-20 period and a plan to build a software and digital content park.

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.

In June alone, Hà Nội’s total turnover from the export of electronics, PC accessories and peripherals reached $901 million.

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