The Hanoi government hopes to form a partnership with Singapore’s global innovation network Block71 in October to boost the city’s technology and innovation sector, said Vice Chairman Truong Viet Dung on September 4.

At the meeting with Singaporean Ambassador to Vietnam Jaya Ratnam and Edward Lim, Director of the Block71 Innovation Network at the National University of Singapore, Dung expressed his admiration for Singapore’s smart city model.

The Hanoi official said that the capital city is accelerating its own smart city development, and that the city seeks to learn from Singapore’s experience in this process.

The Vice Chairman of the Hanoi People’s Committee invited Edward Lim to visit Hanoi in October to support the city in building its development plans.

“Hanoi seeks to sign a cooperation agreement with Block71 on promoting science, technology and innovation, possibly as early as October,” he said.

Regarding science, technology and innovation, Dung said that these are the key factors to help Hanoi achieve double-digit growth in the future.

According to the official, Hanoi attracted US$3.7 billion in foreign direct investment (FDI) during January-July, nearly doubled last year’s figure. The city expects FDI capital to reach$4.5 billion this year, twice the number recorded in 2024.

Dung added that Hanoi will break ground on two digital technology parks next year, and expand the Hoa Lac Hi-Tech Park, which will also feature a smart city project.

Hanoi’s future growth will rely on the Hoa Lac Hi-Tech Park, the smart city project, and especially the Innovation Center, he said.

He called on leading universities, including Hanoi University of Science and Technology, to join in supporting the development and operation of the innovation center.

For his part, Ambassador Jaya Ratnam said that Vietnam and Singapore now enjoy a comprehensive strategic partnership.

Singapore has invested heavily in Vietnam, particularly in Hanoi, and praised the country’s progress in technology adoption, he said.

According to the ambassador, science, technology, and innovation are areas where the two countries can complement each other and deepen cooperation.

He also spoke highly of the Politburo’s Resolution 57-NQ/TW on advancing science, technology, and innovation, and Resolution 68-NQ/TW on private sector development.

According to Edward Lim, Block71 it is a global network founded by the National University of Singapore, linking innovation hubs from Silicon Valley to China, Japan and Southeast Asia.

The organization has supported more than 1,800 startups, including over 10 unicorns, and helped raise more than $2 billion in venture capital, making it one of the most effective university-linked incubators in Asia.

Block71 has operated in Ho Chi Minh City since October 2020. Block71 Ho Chi Minh City is now incubating nine tech startups and collaborating with major Vietnamese universities to develop young talents.

Starting in 2025, Block71 Vietnam will serve as a key hub in the global network, Edward Lim said. He pledged to work with Hanoi to facilitate connection among startups, businesses, researchers and youths.

The Singaporean entrepreneur expected the Hanoi government to deliver supportive policies and enhance the network’s effectiveness.