For the first time, Ho Chi Minh City allows the government to invest in venture capital in technology.

(Dan Tri) - The leader of the Department of Science and Technology of Ho Chi Minh City affirmed that innovation is becoming an important pillar in the city's new growth model, along with digital economy and green economy.

Vietnam Innovation Summit 2025 (VIS 2025) took place this morning (November 6) in Ho Chi Minh City.

Mr. Lam Dinh Thang - Director of the Department of Science and Technology (KH&CN) of Ho Chi Minh City - said that innovation is not only in research institutes, but must penetrate into every business, every community, and every individual.

"Every entrepreneur, every start-up, every scientist, every civil servant who innovates a part in their way of thinking and doing... all combine to create a continuous flow of creativity, creating a new driving force for the city's and the country's economy ," he said.

"Innovation is not just a beautiful message but a commitment to action"

Leaders of the Department of Science and Technology of Ho Chi Minh City affirmed that innovation is becoming an important pillar in the city's new growth model, along with digital economy and green economy.

According to Mr. Lam Dinh Thang, Ho Chi Minh City is promoting the Local Investment Fund model according to Decree 26/2025 of the Government . For the first time, it allows the government to proactively mobilize, manage and invest in venture capital for technology, startup and innovation projects. In addition, the city is also promoting testing of sandbox mechanisms in the fields of fintech, green energy, smart logistics and artificial intelligence.

“The theme of building a bridge for innovation and sustainable growth is not only a beautiful message but also a commitment to action. The city will continue to play the role of a creative, accompanying and serving government,” Mr. Thang emphasized.

Mr. Lam Dinh Thang, Director of the Department of Science and Technology of Ho Chi Minh City (Photo: BTC VIS 2025).

To do that, the Department will continue to improve institutions and policies favorable for innovation and start-ups; Promote the development of infrastructure for research - incubation - commercialization of research results; Strengthen international cooperation, attract talent, capital and technology and spread the culture of innovation in all fields - from businesses to communities, from schools to local authorities.

Businesses join hands to act

Following the speech of the leader of the Department of Science and Technology of Ho Chi Minh City, Mr. Huynh Cong Thang - Chairman and CEO of InnoLab Asia - suggested: "We must make sure that no one innovates alone, and no one should be left behind."

According to him, if we want innovation to become a real growth driver, we need bridges - between start-ups and large enterprises, between universities and industry, between policy and the market, and above all - between Vietnam and the global innovation network.

Ms. Nguyen Thi Hong Van, CEO and Co-founder of CNV Consulting, added that currently, the private economy contributes about 51% of GDP, more than 30% of total state budget revenue and creates more than 40 million jobs.

Based on these figures, it shows that private enterprises have become an important growth engine of the Vietnamese economy. Therefore, they play an extremely important role in promoting innovation and contributing greatly to improving Vietnam's competitiveness.

According to Ms. Van, this group of businesses are pioneers in applying new technologies, improving production processes, and offering breakthrough products and services to meet the ever-changing needs of the market.

To maximize the potential of the private business sector, Ms. Van said that Vietnam needs to improve support policies, such as infrastructure and financial services, as well as create a transparent and fair business environment, and promote private enterprises to invest in research and development (R&D).

Experts agree that there are three main paths to innovation.

The first is promoting innovation through science and technology and digital transformation - analyzing the role of science and technology in Vietnam's economic development strategy to 2030, with topics on intellectual property, capital flows and institutional framework.

The second is to unleash private resources and create finance for an innovative economy.

The third is to break through innovation from smart infrastructure to the global market, emphasizing Vietnam's new competitiveness in the global value chain and intellectual property policy in the AI ​​era.

Source: https://dantri.com.vn/kinh-doanh/lan-dau-tien-tphcm-cho-phep-chinh-quyen-dau-tu-mao-hiem-vao-cong-nghe-20251106140828156.htm