Illustrative image (Source: VNA)
The Ministry of Science and Technology in collaboration with the Vietnam-Finland Innovation Partnership Programme (IPP) held a workshop in Hanoi on September 22 to share international experience in designing policies to encourage the private sector to establish or coordinate with the State to set up venture investment funds.

Deputy Minister Tran Quoc Khanh said that the issue is new and complicated in Vietnam as there are still many different opinions on using State budgets for venture investment funds as well as policies to encourage the private sector to set up the funds to development new and advanced technologies.

Ta Doan Trinh, Head of the National Institute for Science and Technology Policy and Strategy Studies, delivered a report on his research results which clarified shortcomings and challenges facing Vietnam in encouraging the private sector to develop venture investment funds.

Mikko Seppala, an expert from Finland, shared experience in this issue from Israel, China, India and Finland, focusing on who should participate in the funds and how to manage and generate capital for them.

He stressed the need to pay attention to innovative ideas during the policy design process as innovative ideas will decide the efficiency of venture investment funds.-VNA