Shark Nguyễn Hòa Bình: Hanoi will become the capital of startup innovation.

DNHN - Recently, in Hanoi, the seminar “Formulating City People’s Council Resolutions to Promote Science and Technology Development in Connection with the Implementation of Politburo Resolution No. 57-NQ/TW and the Capital Law No. 39/2024/QH15” was held.

At the event, Shark Nguyễn Hòa Bình – Chairman of NextTech Group, presented a series of concrete recommendations.

As Hanoi urgently moves to concretize Resolution 57-NQ/TW on building and developing the Capital, the draft resolutions under discussion are not only of legal significance but also a litmus test of implementation capacity. The key challenge lies in turning the “spirit of innovation” into practical mechanisms capable of attracting global capital and talent.

In an interview with Business & Integration Magazine after the seminar, Shark Nguyễn Hòa Bình emphasized that his proposals stemmed directly from the real experiences of startups and investors, aiming to help Hanoi quickly catch up with the region’s leading innovation hubs.

Reporter: Six draft resolutions are receiving significant public attention. What is your assessment?

Shark Nguyễn Hòa Bình: I believe all six drafts are comprehensive, interconnected, and embrace the spirit of promoting science, technology, and innovation. This is the right approach as Hanoi strives to become the region’s new creative hub. However, to truly attract startups, Hanoi must introduce real breakthroughs.

Reporter: Specifically, which areas should be prioritized?

Shark Nguyễn Hòa Bình: First and foremost is the Sandbox (controlled pilot mechanism). Startups cannot afford long delays. I propose a streamlined approval process: the People’s Council should only approve the list of legal exemptions, while the People’s Committee and the Department of Science & Technology handle applications. Crucially, there must be a clear timeline—no longer than six months. If Hanoi is slow, startups will turn to more open-minded cities.

At the same time, pilot sectors should expand into emerging industries such as low-altitude airspace and water-based technologies, potentially in coordination with the Ministry of Defense. Hanoi also needs to proactively promote itself internationally so that foreign startups view the Capital as a “testbed” for bold technological ideas.

Reporter: What is your perspective on the innovation resolution?

Shark Nguyễn Hòa Bình: I strongly support it, as NextTech itself nurtures startup talent through our NextStart program. However, success depends on proper capital mechanisms. I recommend that state contributions not exceed 51%, since this is not a critical sector. With effective socialization, this ratio should gradually decrease, similar to how the State Bank holds NAPAS.

Additionally, I propose a Dual-Hub model: alongside Hoa Lac, Hanoi should establish another innovation center in the inner city, such as Cau Giay or Hoan Kiem, where universities, IT companies, and Fintech firms are concentrated. Only then can it become a true meeting point for talent and ideas.

Reporter: Many are particularly concerned about venture capital funds. What is your proposal?

Shark Nguyễn Hòa Bình: From my experience managing Next100 Ventures, which has invested in over 40 startups during the past 15 years, I see that public–private partnerships are suitable only for the pilot stage. After 3–5 years, Hanoi should upgrade to a professional Limited Partners (LP) fund structure, and eventually to a Fund-of-Funds model like Singapore’s Temasek.

The crucial shift is in mindset: we cannot rely solely on state budgets and a few investors. Hanoi must encourage idle capital from gold and real estate to flow into innovation. Most importantly, I propose a bold solution: exempt venture funds from capital gains tax. If they lose, the funds absorb the loss; if they win, the state still gains tax revenue from successful enterprises—while Hanoi gains strong new startups. This is a mechanism that is “only beneficial, never harmful.”

Reporter: What are your expectations for Hanoi in the near future?

Shark Nguyễn Hòa Bình: I believe that if Hanoi remains flexible with Sandbox policies, open to innovation, and bold in its venture capital mechanisms, the Capital will not only be Vietnam’s innovation hub but also the startup capital of the entire region.

 Reporter: Thank you very much!

Dr. Nguyễn Thúy Lan