Hanoi has became the first locality to deploy a range of investment projects and new policies to promote the role of science and technology for the city’s socio-economic development, the Vietnam Economic News reported.

According to Hanoi’s People’s Committee, the city has many advantages for the development of science and technology including a capable scientific workforce accounting for 70 percent of the country’s scientific staff. Hanoi is also home to a large number of research institutes and universities with high-quality human resources. During the 2008-2014 period, it has deployed 616 science and technology research projects and 56 pilot production projects.

According to Director of Hanoi’s Department of Science and Technology Le Xuan Rao, Hanoi decided to maintain a two percent of the its budget for science and technology activities and aims to increase the rate to 2.5 percent by 2020 as part of the efforts to promote the local scientific and technological development.

Researches have focused on the study of varieties of plants and animals, new farming technologies; high tech lines for industrial and agricultural services; engineering technology, automation, information technology, biotechnology, and processing.

To date, 192 organisations and businesses across the city have received guidance and consultancy for establishment of industrial property and branding such as Ba Vi Milk and Chuong Village’s Conical Hats.

The city has also conducted technology evaluation for 187 investment projects in areas of waste treatment and slaughter lines including North Thang Long-Van Tri and Yen So wastewater treatment plants and Dong Ke Waste Treatment Plant (Chuong My district).

Hanoi has organised conferences to promote links between managers, scientists and manufacturers and facilitate technological transfers, with the positive participation of lots of experts. The city has been implementing a series of projects including a technology research, appraisal and transfer centre, a regular technology exchange centre, and a biotechnology and food technology centre.

Hanoi’s People’s Committee recently decided to establish the Hanoi Foundation for Science and Technology Development, operating as an a non-profit affiliate of Hanoi’s Department of Science and Technology with legal personality and its own seal.

The fund will grant a loan up to 30 percent of the total investment project at zero percent interest during the implementation term as for applied research projects and experimental development, and up to 80 percent of total investment project with preferential interest rates as for organisations and businesses involving in technology development and transfer of scientific research results.-VNA