Minister Nguyen Chi Dung: It is necessary to form a startup investment environment soon

Minister Nguyen Chi Dung: It is necessary to form a startup investment environment soon 2
Minister Nguyen Chi Dung: It is necessary to form a startup investment environment soon 2

At the Vietnam Innovative Startup Investment Fund Forum 2022 (Vietnam Venture Summit 2022) on December 19, Minister of Planning and Investment Nguyen Chi Dung said he would research and report on the possibility of developing an Investment Law.

In addition, he also proposed a mechanism to establish a support fund for innovation mobilized from socialized capital, not using the budget, to quickly and effectively support potential creative startup projects.

Minister Nguyen Chi Dung at Vietnam Venture Summit 2022. Photo: MPI

Speaking to domestic and international investors and businesses, the Minister said that over the years, Vietnam has been very interested in investment activities for creative startups.

To date, Vietnam has 20 private creative startup investment funds with a total charter capital of more than 100 billion VND.

In the first 9 months of the year, Vietnam also attracted nearly 500 million USD into technology fields.

The Minister said that at Techfest Vietnam 2022, Prime Minister Pham Minh Chinh directed that it is necessary to focus on building and perfecting institutions, mechanisms and policies to promote the capital market in accordance with market mechanisms and practices.

Also at the Forum, 39 funds committed to invest 1.5 billion USD in creative startups in Vietnam in the 3 years 2023-2025;

Previously, at the 2019 and 2020 Forums, the funds’ committed investment capital also gradually increased, from 425 million USD in 2019 to 815 million USD in 2020. And in the period 2020 – 2022, the amount of investment capital

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