HCMC plans startup center and exchange

10:06 | 30/05/2017 Science - Technology Follow Ven.vn on

(VEN) - Ho Chi Minh City (HCMC) has for years sought to develop startup businesses, styling itself as a growing Silicone Valley type hub with a target of 2,000 new startups by 2020.

The Ho Chi Minh City Department of Science and Technology launched a program to support innovations and startups

Official assistance for startup businesses

The Department of Science and Technology in Ho Chi Minh City recently held a seminar to guide startup businesses to apply for aid from the SpeedUp 2017 program in Saigon Innovation Hub (SIHUB).

SpeedUp 2017 launched by the Department in early January 2017 is a program to back startup people who can receive aid of up to VND2 billion ($87,977) during two years.

The program is designed to boost startup businesses launched in 2016. The Department organized the guidance seminar because so far only very a few startups have come to apply for the loans.

The Ho Chi Minh City People’s Committee has also assigned the Municipal Youth Union to manage a VND100 million Startup Assistance Fund. So far, 800 startup projects have had access to the fund. The union has also developed a nursery model to educate startup businesses and held an annual startup contest that received more than 500 startup ideas per year. Since 2014 the city has organized a program for each and every successful business to support a young person who has a startup idea.

In addition, the city has adopted various policies to provide assistance capital for startup businesses, such as interest-subsidized loans for 606 projects, apart from bank loans which amounted to VND281 trillion in 2016 and an expected VND300 trillion this year.

To facilitate startups, Ho Chi Minh City has launched 20 business nurseries, such as the Quang Trung Software Technology Business Nursery that has successfully “nursed” more than 20 projects.

The Ho Chi Minh City Department of Science and Technology has also kicked off a program to support innovations and startups during the period from 2016-2020. The program focuses on engineering and automation, chemical-pharmacy, electronics and information technology, and biotechnology. The aid ceiling is VND2 billion per project.

Improving the startup ecosystem

According to Associate Prof. Dr. Mai Thanh Phong, deputy director of the Ho Chi Minh City University of Technology, major weaknesses currently lie in the community’s lack of understanding about startups, and the small number and low quality of startup ideas, despite significant improvements when compared with 10 years ago.

Mai Thanh Phong also said the city lacks a startup ecosystem with complete material facilities and services and that municipal nurseries lack operational funds.

With that in mind, Tran Thi Binh Minh, deputy director of the Ho Chi Minh City Department of Planning and Investment, said that the city will set up a startup center to provide consultation, support and instruction in administrative procedures.

Moreover, the city will launch a startup exchange and a website, while at the same time revising policies to resolve difficulties for startup and innovation businesses.

Thanh Thanh

See more news

Digital tech firms enter new phase

13:00 | 13/03/2023 Digitalization

(VEN) - Vietnamese digital technology firms are entering a new period of development, bringing “Make-in-Vietnam” products to the world and accelerating domestic digital transformation.

Efforts urged to find best technology for Vietnam

06:00 | 12/03/2023 Science - Technology

Minister of Planning and Investment Nguyen Chi Dung has called on the Vietnam-Germany Innovation Network (VGI) to further support the National Innovation Centre of Vietnam in developing strategies as well as finding the best and most suitable technologies for Vietnam.

Vietnam, South Africa foster cooperation in training, scientific research

06:00 | 10/03/2023 Science - Technology

The Institute of African and Middle East Studies under the Vietnam Academy of Social Sciences (VASS) and the South African Embassy in Vietnam signed a memorandum of understanding (MoU) in Hanoi on March 2, under which they agreed on comprehensive cooperation in training and scientific research.

Tuyen Quang sets sights on developing nanocellulose production technology

06:00 | 08/03/2023 Science - Technology

A Memorandum of Understanding on cooperation in researching nanocellulose production technology was inked in the northern mountainous province of Tuyen Quang on February 28.

RKTech Corp establishes its first office in the fourth largest US metro area

15:13 | 07/03/2023 Companies

The establishment of RKTech affords a Vietnam-based global technology solutions provider strategic access to North American market and to achieve a company vision of becoming a billion-dollar technology company within the next five years.

PM urges basic, comprehensive reform in digital transformation

06:00 | 06/03/2023 Digitalization

Prime Minister Pham Minh Chinh has requested basic and comprehensive reform in digital transformation to improve labour productivity and competitiveness of enterprises and the nation, contributing to building an independent, self-reliant economy that integrates into the world extensively and effectively.

MoIT improves national standards system

06:00 | 05/03/2023 Science - Technology

The Science and Technology Department under the Ministry of Industry and Trade (MoIT) is engaged in improving Vietnam’s system of standards and technical regulations.

Vietnam’s AI leadership status improving

06:00 | 04/03/2023 Information technology

Some studies show Vietnam’s artificial intelligence (AI) leadership status is blossoming, according to forbes.com website.

Vietnamese IT firms get support to go global

06:00 | 02/03/2023 Science - Technology

In 2023, the Ministry of Information and Communications (MIC) will focus on working with Vietnamese associations, foreign diplomatic missions, and trade and investment representative offices to enhance support for Vietnamese digital technology enterprises in global digital cooperation, MIC Deputy Minister Phan Tam told a conference on February 23.

Vietnam, Belgium step up scientific-technological cooperation

06:00 | 28/02/2023 Science - Technology

Vietnam wants to step up cooperation with countries that have strengths in science-technology like Belgium, Minister of Planning and Investment Nguyen Chi Dung has said.

Latest Most Read

Vietnam to develop policies to adapt to global minimum tax

07:05 | 23/03/2023 Finance-Banking

Vietnam will adjust investment policies to adapt to the global minimum tax rate and remain an attractive destination for investment.

Japanese man gives his love to Hà Giang

06:00 | 23/03/2023 Tourism

For the past 21 years, each month a Japanese man spends some two weeks in Lô Lô Chải, a remote village in the northern mountainous province of Hà Giang, becoming a familiar friend to many members of the Lô Lô ethnic minority group.

Renowned Vietnamese artists collaborate on unique porcelain artworks

06:00 | 23/03/2023 Lifestyle

Titled "Hoa Trên Hoa Kết Tinh" (Flowers on Crystallised Flowers), the exhibition will showcase 13 crystallised porcelain items created by Lê Ngọc Thạch, a famed artisan from Bát Tràng, and painted by the internationally-acclaimed overseas Vietnamese artist Hồng Đức Thanh.

Vietnam attracts Czech investors

06:00 | 23/03/2023 FDI

(VEN) - A delegation of top Czech companies, led by Czech Minister of Industry and Trade Jozef Síkela, visited Vietnam in February to explore investment and business opportunities.

New legal documents in first half of March 2023

06:00 | 23/03/2023 Policy

VEN lists the latest legal documents issued by the Vietnamese Government, ministries and state agencies.

Xoan singing in Phu Tho Province

06:00 | 12/03/2023 Lifestyle

(VEN) - Xoan singing is an ancient art performed during the first two months of the lunar year and designated by the United Nations Educational, Scientific and Cultural Organization (UNESCO) as a valuable intangible cultural heritage of the northern Vietnamese province of Phu Tho. It is based on the Vietnamese practice of ancestor worship and dates back to the period of the 18 Hung kings who ruled northern Vietnam from 2879-258 BCE. However, some music researchers believe that Xoan singing emerged much later, during the Later Le Dynasty (1428-1789 AD), as the lyrics bear literary forms and styles of the period.

Fresh produce exports set to grow

06:00 | 10/03/2023 Major exports

(VEN) - The Vietnamese fruit and vegetable sector poised for promising year as exports rose 3.1 percent in January 2023.

Son La Dam’s powerful tourism potential

06:00 | 11/03/2023 Tourism

(VEN) - The area of the Son La hydropower reservoir, with its cultural features of the Thai, Tay and La Hu ethnic groups, is being awakened by tourism development to benefit local residents.

Ministry betters business environment

13:00 | 11/03/2023 Economy

(VEN) - The Ministry of Industry and Trade (MoIT) has implemented government resolutions on improving the business environment and enhancing national competitiveness.

Hanoi economy presents mixed picture

13:00 | 12/03/2023 Metropolis

(VEN) - Hanoi’s total retail sales of goods and services increased 18 percent in January compared with the same period last year. The capital has also identified 22 targets for socioeconomic development in 2023.

Multimedia

Video Longform Infographic Photo

Renowned Vietnamese artists collaborate on unique porcelain artworks

06:00 | 23/03/2023 Lifestyle

Festivals in Sapa

10:05 | 22/03/2023 Entertainment

(VEN) - Sa Pa Town in the northern province of Lao Cai celebrates the 120th anniversary of its tourism this year with a series of special events, including a spectacular art program introducing the history of the Sa Pa national tourist area and its attractive and unique tourism products, as well as its targets in the future.

50th anniversary of Vietnam-Belgium diplomatic relations

07:00 | 22/03/2023 Infographic

Vietnam and Belgium have experienced a 50-year partnership marked by sound friendship and fruitful cooperation.

Amazingly beautiful Ninh Thuan

09:13 | 20/03/2023 Video

(VEN) - The south central coastal province of Ninh Thuan is renowned for its beautiful, pristine beaches and vast white salt fields. Visitors are recommended to travel to the province from April to June to enjoy their summer vacations, and from August to October when the grape-harvesting season falls and unique local festivals of the Cham people take place.

Tra fish exports hold promise after China reopens borders

07:00 | 20/03/2023 Infographic

Tra fish exports are expected to recover shortly with China gradually reopening its borders.

Policy

New legal documents in first half of March 2023

06:00 | 23/03/2023 Policy

VEN lists the latest legal documents issued by the Vietnamese Government, ministries and state agencies.

Animal feed industry asks for import tax reduction on raw materials

09:55 | 20/03/2023 Policy

The Government has received a proposal from the Vietnam Feed Association to eliminate the import tax on soybean meal, currently set at 2%.

Over 250 petitions submitted to authorities on fragility of petroleum regulations

18:07 | 16/03/2023 Policy

The petitions concern the alteration of petroleum business restrictions in decrees No.83/2014/ND-CP and No.95/2021/NQ-CP, resulting in losses for retail establishments.

New legal documents in second half of February 2023

07:00 | 12/03/2023 Policy

VEN lists the latest legal documents issued by the Vietnamese Government, ministries and state agencies.

Industry & Trade

Vietnam Manufacturing Expo & NEPCON Vietnam exhibition 2023 kick off

16:41 | 22/03/2023 Support industries

Reed Tradex Vietnam, the ASEAN's leading exhibition organizer announced the kick-start of Vietnam Manufacturing Expo (VME) & NEPCON Vietnam exhibition 2023.

Offshore wind energy an essential base load power source: official

14:30 | 20/03/2023 Energy

Offshore wind energy has great potential to contribute to the energy security goals of Việt Nam, according to deputy head of the Party Central Committee's Economic Commission Nguyễn Đức Hiển.

Uncorking bottlenecks for support industry development

06:00 | 18/03/2023 Industry

(VEN) - Vietnam is mulling legislation to boost the low localization rate of its industrial production and means to modernize its support industries and increase their participation in the local and foreign value chain.

Da Nang greens textile-garment industry

13:00 | 17/03/2023 Energy

(VEN) - Textile and garment enterprises in the southcentral coastal city of Da Nang are seeking to green their production through the use of renewable energy, waste reduction and wastewater standardization.

Investment

Vietnam attracts Czech investors

06:00 | 23/03/2023 FDI

(VEN) - A delegation of top Czech companies, led by Czech Minister of Industry and Trade Jozef Síkela, visited Vietnam in February to explore investment and business opportunities.

US businesses exploring investment, business opportunities in Vietnam

10:01 | 21/03/2023 FDI

Representatives of more than 50 US companies will visit Vietnam from March 21-22 to discuss investment and business opportunities under an annual programme hosted by the US-ASEAN Business Council.

Da Nang hopes for further investment from RoK city

09:13 | 17/03/2023 FDI

Secretary of the Da Nang municipal Party Committee Nguyen Van Quang said he hopes that the city of Daegu in the Republic of Korea (RoK) will cooperate with the Vietnamese central city and invest more in its hi-tech sector, along with education, training and tourism.

Initiative speeds up investment disbursement

06:00 | 14/03/2023 Domestic investment

(VEN) - Prime Minister Pham Minh Chinh has asked ministries, sectors and localities to ensure the quality and effectiveness of public investment projects and achieve a higher disbursement rate in 2023.

Finance-Banking

Vietnam to develop policies to adapt to global minimum tax

07:05 | 23/03/2023 Finance-Banking

Vietnam will adjust investment policies to adapt to the global minimum tax rate and remain an attractive destination for investment.

Vietnam seeks response to corporate tax overhaul

06:00 | 20/03/2023 Finance-Banking

(VEN) - All European Union states and many other countries will introduce a global minimum tax (GMT) of 15 percent on large corporations by the start of 2024, and Vietnam is being urged to devise appropriate policies and adapt to the new taxation.

Vietnam’s regulatory interest rates to be reduced by 0.5-1 percent

07:05 | 16/03/2023 Finance-Banking

The State Bank of Vietnam (SBV) on March 14 issued two decisions to reduce regulatory interest rates by 0.5% to 1%, which will come into force on March 15.

Global Minimum Tax a head-scratcher for Vietnamese policymakers

06:00 | 13/03/2023 Finance-Banking

As many countries plan to adopt the Global Minimum Tax Rate (GMTR) in 2024, experts are concerned that the entry into force of the rate would discourage foreign companies from locating their operations in low-tax countries.

Environment

Việt Nam carries out measures for healthy forests

10:30 | 22/03/2023 Environment

At a forum on the International Day of the Forest yesterday in Hà Nội, Phạm Hồng Lượng, chief of office of the General Department of Forestry, stressed the importance of raising awareness about the role of forests in human life to work together in forest protection and sustainable forest exploitation.

COP28 President-Designate to co-chair Copenhagen climate ministerial meeting

09:46 | 22/03/2023 Environment

Dr. Sultan Al Jaber, COP28 President-Designate, will visit Copenhagen to co-chair the Copenhagen Climate Ministerial with His Excellency Sameh Shoukry, Minister of Foreign Affairs, COP27 President and Foreign Minister of the Arab Republic of Egypt.

Practical effective activities urged to mark World Water Day

10:03 | 20/03/2023 Environment

The Ministry of Natural Resources and Environment has asked other ministries, agencies, sectors, localities, and organisations to take practical and effective activities to mark the World Water Day (March 22), the World Meteorological Day (March 23), and the Earth Hour 2023 (March 25).

HCMC plans startup center and exchange

See also

See more news

Multimedia