On the afternoon of December 9, at the Ho Chi Minh City Center for Creative Entrepreneurship, chaired by the Ho Chi Minh City People's Committee, the Department of Science and Technology coordinated with the Institute for Development Studies to organize a program for city leaders to meet the science - technology and creative startup community with the theme "Ho Chi Minh City aims to become a digital economic center and an international-class innovation and startup center".
Attending the program were Tran Luu Quang, Secretary of the Central Committee of the Communist Party of Vietnam and Secretary of the Ho Chi Minh City Party Committee; Dang Minh Thong, Deputy Secretary of the Ho Chi Minh City Party Committee; Tran Thi Dieu Thuy, Vice Chairman of the Ho Chi Minh City People's Committee; Lam Dinh Thang, Director of the Department of Science and Technology; Truong Minh Huy Vu, Director of the Ho Chi Minh City Institute for Development Research...
Proposal to establish Ho Chi Minh City Venture Capital Fund
In his opening remarks, Secretary of the City Party Committee Tran Luu Quang hoped that experts and businesses would help the city answer two questions. These are: What should be done to make Ho Chi Minh City the center of innovation and creativity of the whole country, and even have a leading role? To do that, how should we start, what should be the priority, where are the resources and who will be the one to do it?
Afterwards, the dialogue session took place enthusiastically with speeches revolving around key topics such as: Building Ho Chi Minh City into an international standard research and technology transfer center; forming an international innovation center; developing Ho Chi Minh City venture capital funds; developing low-altitude economics such as UAVs and robots...
Mr. Don Lam, CEO of VinaCapital Group, proposed the establishment of a Ho Chi Minh City Venture Capital Fund based on the PPP model, acting as seed capital to attract more private and international resources.
To attract investment funds, Don Lam suggested that the city needs to strengthen dialogue, encourage the participation of international funds, and implement specific policies such as tax exemptions and significant administrative reforms to create a more favorable environment for investment in technology.
Regarding this proposal, City Party Secretary Tran Luu Quang acknowledged that in order to attract foreign venture capital funds to invest in science and technology and innovation in Ho Chi Minh City, preferential tax policies are necessary.
However, tax exemptions and reductions fall under the authority of the central government. Mr. Tran Luu Quang stated that, within its jurisdiction, the city will allocate budget to provide tax support to businesses participating in venture capital funds, aiming to inspire them to "do bigger things."
During the meeting, many businesses joined hands to support the establishment of a venture capital fund of 150 billion VND. Vingroup contributed 50 billion VND; other corporations such as Hoa Sen, FPT, Becamex, Vina Capital, CMC, VNG, Momo, CT Group, etc., each contributed 10 billion VND.
Developing science and technology is a must.
Concluding the dialogue, the Secretary of the Ho Chi Minh City Party Committee emphasized that developing science and technology is a necessary task, not only for the city but also for the whole country.
This is a very difficult task, because Ho Chi Minh City still has to solve many more urgent and immediate tasks, especially the four tasks assigned by the Central Government: flooding, traffic jams, pollution, and no drugs. However, if science and technology are developed well, it will come back to support and help the city solve the problems it is facing.
Mr. Tran Luu Quang believes that Ho Chi Minh City leaders must pay special attention to the field of science and technology. Institutional issues are not just about incentives and priorities, but also about reforming administrative procedures to create favorable conditions for innovation.
The Secretary of the Ho Chi Minh City Party Committee also stated that the city is initially shaping four science and technology centers: the Vietnam National University Ho Chi Minh City, the High-Tech Park, the Becamex - Binh Duong area, and the old Ho Chi Minh City center.
Debating the "chief architect" model of innovation
Mr. Mai Thanh Phong, Rector of the University of Technology – National University of Ho Chi Minh City, said that the key question is how and where to start? According to him, the first thing is to choose the right people to do the job, need people to play the role of "chief architect", coordinating each task in the innovation ecosystem.
Meanwhile, Mr. Le Hong Minh, Chairman of the Board of Directors of VNG Corporation, expressed his personal view that he "doesn't believe in the chief architect model," because innovation is a decentralized process, and the goal is to get everyone involved.
Ho Chi Minh City must accept "opening up space" for many stakeholders to participate and, especially, be able to accept failure. "The KPI of innovation is not just success, but daring to accept failure in order to continue investing and moving forward," Mr. Minh observed.
Source: https://ttbc-hcm.gov.vn/bi-thu-thanh-uy-tran-luu-quang-tphcm-phai-quan-tam-dac-biet-den-khoa-hoc-cong-nghe-1020173.html
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