The Ho Chi Minh City People’s Committee has decided to increase the size of the Startup and Innovation Fund to VND300 billion ($12.6 million), to help more young people start a business.

Under an emulation campaign launched recently to promote startups and innovation among young people during the 2023-2027 period, the city also plans to provide credit worth VND2 trillion ($84 million) for young people to develop their business and also help 800 startups and innovation projects from young people.

The city will organize at least one activity each year to support young people in rural areas and help young entrepreneurs to start their business in high-tech agriculture.

It will create mechanisms and policies to support ideas and business models in key industries such as mechanics, electronics, information technology, food processing, and chemicals-rubber.

During the period, the city will provide consultancy and career orientation for at least 300,000 young people and introduce jobs to 120,000 youngsters.