Written by Doan Lan Hanh (Ms), Nguyen Thi Minh (Ms), Tran Bao Minh (Ms) and supervise by Chu Thi Hai Anh (Ms)
It is no doubt that Hanoi has the strongest infrastructure, many professors – doctors, who contribute the highest ratio in the proportion of national science and technology potential. We can see from below table of comparison between two biggest cities of Vietnam:
| Number of Institutions in Hanoi and Ho Chi Minh city, 2019 | ||
| Row Labels | Count of Institution | |
| Hanoi | 129 | |
| Academy | 30 | |
| College | 33 | |
| University | 66 | |
| HCM | 108 | |
| Academy | 8 | |
| College | 48 | |
| University | 52 | |
| Grand Total | 237 | |
Sources: Ms.Minh – Writer
Besides, in 2019, Hanoi had nearly 5,000 international publications on scientific and technological research, accounting for 40% of the country. From 2016 to 2020, Hanoi has 346 provincial Science &Technology missions which were implemented, including 212 natural science and technology tasks, 84 humanities and social sciences and 50 experimental production projects with a total budget of 633,092 billion VND; more than 85% of research results after acceptance are applied in practice (Source:Labour Magazine, 2020)
Source: https://vietnamnet.vn/vn/giao-duc/7-hoc-sinh-ha-noi-gianh-giai-vo-dich-cuoc-thi-khoi-nghiep-tre-quoc-te-665783.html
Another key thing to remember, Hanoi is holding the top position in the country for labor productivity. The labor quality has been getting better in recent years, thanks to the high quality and up-to-date training programs in universities as well as other types of training centers.
Right place, right time and right resources – it comes as no surprise that more and more young people decide to start their own businesses in Hanoi. Various contests and events were held in Hanoi in order to provide further support to start-ups and entrepreneurs, such as: Start up Journey 2018, Start-up Hunt 2020, TechFest Vietnam 2020, Creative Designs for Hanoi Spaces 2020-2021, etc. Throughout these events, a lot of new ideas were discovered and implemented in the fields of agriculture, digital technology, architecture… Hanoi youth also actively participated in international contests and obtained remarkable results.
On the other hand, despite having all these favorable conditions, Hanoi is still struggling to unleash its full potential as an innovative city, mostly due to out-of-date policies and slow responsive actions from the regulators. For instance, from Ms. Hai Anh – Cofounder of SpaceShare – a tech startup, they succeeded in calling fund from Japanese investors but had to wait 5 months to receive money into their bank account due to Vietnam’s complicated investment procedures for foreign enterprise. Another example from CIMB Bank Vietnam Limited, in collaboration with Korea’s first Fintech unicorn – TOSS recently launched the product “TOSS card by CIMB”. This is Vietnam’s first ever bank account that can be opened and maintained online, straight from the non-bank app using EKYC. While many perceived this as a true breakthrough in the banking industry, the State Bank of Vietnam was uncertain and raised many doubts before the launch since no regulation exists for this strange partnership concept. CIMBVN was finally given clearance with warnings from the SBV on risk acceptance, however this goes to show somewhat out-of-date Vietnam’s regulations.
With new ideas bustling from every corner of Hanoi, we are hopeful that in the future, policies makers and innovators will share the same vision of making Hanoi the most innovative city.
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