Ho Chi Minh City will establish a venture capital fund using state budget to support innovation and startup activities, according to Mr. Lam Dinh Thang, Director of the city's Department of Science and Technology.
Speaking at the Vietnam Innovation Summit 2025 (VIS 2025) held in Ho Chi Minh City on November 6, Mr. Thang said this is part of the city's development strategy from 2026 to 2030, with a vision to 2045, which will prioritise science and technology, innovation, and digital transformation as key pillars alongside the digital economy, circular economy, and green economy.
The city is building a comprehensive innovation ecosystem where ideas are tested, businesses are supported, and policies are flexibly implemented, fostering the growth of the startup community and creative enterprises, he said.
To achieve this goal, according to the official, the city will develop three pillars: policy, infrastructure, and human resources.
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