Forum designed to promote innovation in Vietnam hinh anh 1US Ambassador to Vietnam Ted Osius visits a pavilion on innovation and startup idea (Photo:
Hanoi (VNA) – The US Embassy in Vietnam and Arizona State University co-organised a forum in Hanoi on November 1 with a view to promoting the innovation campaign in the Southeast Asian country.

US Ambassador to Vietnam Ted Osius said the event was designed to define challenges and seek solutions to support the startup ecosystem in Vietnam, while creating economic values and developing science, technology, art and mathematics in the nation.

Deputy Minister of Science and Technology Tran Van Tung noted that the Prime Minister has recently approved a project to support the innovation startup ecosystem through 2025.

He pointed out the attraction of foreign investment as the biggest challenge for startups and proposed the Government devise particular policies to assist investors in the field.

This is the second innovation promotion forum hosted by Arizona State University, following the first event in 2015. A similar forum is scheduled to take place in the Mekong Delta city of Can Tho on November 3.

A start-up is a type of enterprise that can scale up quickly, based on intellectual property, technology and an innovative business model.

Under the national start-up development project, the Government will provide legal and financial support for around 2,600 start-ups across the country over the next decade.-VNA