The Ho Chi Minh City People’s Committee has officially issued a plan to promote financial programs aimed at attracting overseas remittance resources into the science and technology sector. This initiative is part of a broader scheme to maximize the effectiveness of remittance resources through 2030.
Under the proposed roadmap, the city targets mobilizing at least VND500 billion ($19 million) from remittances and other social resources for science and technology investment by 2026. During this period, at least 100 enterprises in the production, processing, and manufacturing sectors will be supported in accessing preferential credit to innovate technology and accelerate digital transformation.
By 2027, the mobilization scale is expected to increase to at least VND1 trillion ($38 million). The goal is to establish long-term capital sources for green and technology-focused credit programs, enhancing national competitiveness and promoting sustainable economic development.
The plan aims to build a dynamic, transparent, and sustainable remittance financial ecosystem, gradually positioning the city as a leading regional center for finance, science, and technology. Accordingly, various financial tools will be deployed to shift remittance flows from consumption to production investment, with a primary focus on science and technology, manufacturing, innovation, green energy, and digital transformation.
A core solution is the establishment of a Science and Technology Investment Fund backed by remittance resources, with an initial scale of at least VND50 billion ($1.9 million). Organized as a member fund, it will mobilize capital from overseas Vietnamese, domestic businesses, and both local and international financial institutions. These funds will be funneled into high-tech fields such as Artificial Intelligence (AI), biotechnology, renewable energy, and smart manufacturing.
According to the strategic orientation, the fund will operate under Venture Capital or Private Equity models. This structure is designed to help innovative startups and science-tech enterprises access capital, thereby boosting research, application, and the commercialization of technology.
In addition, the city will implement preferential credit programs for the manufacturing and processing sectors by issuing specialized financial products, such as "Green Certificates of Deposit" and "Technology Certificates of Deposit."
Google translate