At the forum, delegates discussed how to effectively implement Government Decree No. 264/2025/ND-CP on national and local venture capital funds. This is Vietnam's first legal framework for venture capital funds at both national and local levels, creating a foundation for the State to use "seed" capital to guide and attract private investment into innovative startup projects.
The decree allows for the application of a selective public investment mechanism, accepting controlled risks and prioritizing sectors such as digital technology , green technology, and high technology. Experts believe that the decree is expected to create a strong impetus for the development of Vietnam's venture capital market in the coming period.
According to Deputy Minister of Science and Technology Hoang Minh, in the context of a sharp decline in global venture capital flows, Vietnam's proactive establishment of a state-owned venture capital fund is of particular importance. This is not only a solution for capital, but also a clear message showing that the State is determined to directly participate in the innovation and startup ecosystem, instead of just remaining in the role of policy-making.
National and local venture capital funds are designed with a long-term mindset, allowing for the mobilization of resources from both the state budget and society, investing in cycles of 10 to 15 years, and not being constrained by short-term calculations based on individual transactions. The funds focus on strategic technology sectors such as artificial intelligence, green technology, and core technologies, and are permitted to invest abroad to access new technologies and products, and to attract Vietnamese talent and intellectual resources. According to the Deputy Minister, this represents a significant shift from policy support to direct action, demonstrating the State's coordinating and leading role in promoting the sustainable development of the innovation and startup ecosystem.
At the Forum, domestic and international speakers argued that, in the coming period, the key factor in attracting investment and promoting the startup ecosystem in Vietnam lies not only in policy, but also in the operational mechanisms and the ability to implement them in practice.
Vietnam currently has a relatively complete legal system and policies; the most important issue is how regulations are implemented clearly, simply, and consistently. Time and procedures used to be major barriers to international capital flows, especially in stages such as investment registration, account opening, or pilot implementation. However, recent improvements in many localities show that many procedures have been significantly shortened, creating a positive signal for foreign investors, especially in the context where the speed of project implementation is crucial to investment efficiency.
Speakers also emphasized the role of coordination mechanisms between state capital, private capital, and international resources. When decision-making mechanisms, responsibility sharing, and resource allocation are designed transparently, project disbursement and implementation will proceed faster, thereby building confidence among international financial institutions and encouraging deeper private sector participation.
In addition, infrastructure, especially energy infrastructure and technology testing infrastructure, should be identified as one of Vietnam's major priorities in the coming period.
Against the backdrop of high economic growth targets and ever-increasing energy demand, speakers argued that green energy is no longer an option but a necessity, opening up significant opportunities for technologies related to energy storage, battery management, energy efficiency enhancement, and green transportation solutions.
The development of testing infrastructure, technology parks, and open innovation centers, allowing businesses to test technologies on a real-world scale before commercialization, is considered a crucial solution for Vietnam to become a regional destination for testing and deploying new technologies.
Source: https://nhandan.vn/quy-dau-tu-mao-hiem-quoc-gia-tao-luc-day-cho-he-sinh-thai-khoi-nghiep-sang-tao-post930017.html
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