Gov't encourages investment in innovative startups
Government encourages investment in innovative startups
Participants heard details about the new government regulations and policies on investment encouragement for the promotion of innovative startup activities, during a workshop held in Hanoi on August 14.
Hanoi (VNA) – Participants hearddetails about the new government regulations and policies on investmentencouragement for the promotion of innovative startup activities, during aworkshop held in Hanoi on August 14.
The panels mentioned a project run by theMinistry of Science and Technology which looks to support the nationalinnovation system to 2025 and regulations on investment for small-scalebusinesses and start-ups according to the Government’s Decree No.38/2018/ND-CP.
Phan Hoang Lan, a representative from theDepartment of Market Development and Science-Technology under the Ministry ofScience and Technology, said policies relating to startups are still new inVietnam and need time for reflection and review.
It takes about three years for the country tobuild a legal framework and supportive policies, she added.
Trinh Thi Huong, a representative from theAgency for Enterprise Development under the Ministry of Planning andInvestment, said the decree encourages the establishment of innovative startupfirms.
The Ministry of Science and Technology said itwill propose a mechanism to attract investment in innovative startups frombusinesses at home and abroad, especially from overseas Vietnameseintellectuals. –VNA
As Vietnam’s economic hub, Ho Chi Minh City boasts advantages to develop startups, with its science-technology resources accounting for 25 percent and the number of operating businesses taking up 50 percent of the country’s, while its labour productivity is 2.5 times higher than the national average.
Three Vietnamese start-ups will travel to Malaysia to seek business opportunities in the country under an exchange programme for start-ups entitled “Runway to the World”.
The Government of Vietnam considers the fourth Industrial Revolution (also known as Industry 4.0), especially aspects concerning artificial intelligence, a huge opportunity for Vietnam to become a modern, industrialised nation in the near future, said Minister of Planning and Investment Nguyen Chi Dung.
JAMJA - a technology startup firm in Vietnam - has just successfully called for nearly 20 billion VND (860,000 USD) from major investment funds of the Republic of Korea (RoK) and Japan.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Participants at the workshop (Photo: VNA) 
