Hanoi (VNS/VNA) - The National Startup Support Centre of Vietnam (NSSC)and other organisations in the country on November 11 signed a Memorandum ofUnderstanding (MoU) with the Association of Small and Medium-sized Enterprisesand Crafts of the Czech Republic (AMSP ČR) with the aim to develop the twocountries’ start-up ecosystem and entrepreneurship.

Apart fromNSSC and AMSP ČR, other signatories were the Hanoi Association of Small andMedium Enterprises (HN SME), Vietnam Silicon Valley (VSV), FTU Innovation AndIncubation Space (FTU FIIS), BambuUp and Technology Incubation and StartupSupport Center (TUAF).

The MoU ispart of a development co-operation project on entrepreneurship and innovationbetween these parties, financed by the Czech government.

Under theagreement, the parties agree to support and help each other in advising onpolicy of developing innovative start-up ecosystems, training and improving thequalifications for management staff, expert exchange to support each other inprogrammes and events about innovative start-ups.

Each partywill also introduce qualified people, organisations and start-ups within itscountry  to participate in the other’s events, programmes, and activitiesfor access to the network of mentors or start-up communities, fundraising,incubation, business matching and market penetration.

“Vietnam isone of the most important trade partners of the Czech Republic inSoutheast Asia. Our bilateral trade has been growing steadily while the tradevolume already exceeded 1 billion USD,” said David Jarkulisch, Head of the EconomicSection, the Embassy of the Czech Republic in Vietnam.

“While thelarge companies and investors on both sides are already engaged in businessoperations between our two countries without significant help of the governments,the small and medium sized companies very often still need to be supported intheir business endeavours by their respective governments in order to besuccessful in foreign markets. That is why one of the main goals of theCzech development aid in Vietnam is also support of healthy businessenvironment and entrepreneurship,” said Jarkulisch.

“We hope thatthe co-operation between Vietnam and the Czech Republic will develop to a newheight in the near future, not only in innovation activities and start-ups, butalso in mindset and performances in supportive activities for businesses. Weexpect that the export growth between Vietnam and the Czech Republic willcontinue to grow through innovation and more investors will consider Vietnam anew investment destination and vice versa,” said Mac Quoc Anh, Vice Presidentand Secretary-General of the Hanoi Small and Medium Enterprises Union./.