The Hanoi People’s Council on September 29 approved a resolution introducing new mechanisms and policies to support the city’s startup and innovation ecosystem.

Under the resolution, the city will cover up to 70% of costs for capacity-building programs, use of infrastructure at innovation and tech hubs, and fees for hiring experts, mentors, and advisors for up to three years.

It will also fully support costs related to startup project selection, loan interest payments, credit guarantees, and the organization of ecosystem networking events such as forums, competitions, and investment connection programs.

Officials said the measures are expected to strengthen Hanoi’s position as a leading hub for innovation and entrepreneurship.