Business

Gov't encourages investment in innovative startups

Government encourages investment in innovative startups

Participants heard details about the new government regulations and policies on investment encouragement for the promotion of innovative startup activities, during a workshop held in Hanoi on August 14.
Government encourages investment in innovative startups ảnh 1Participants at the workshop (Photo: VNA)

Hanoi (VNA) – Participants hearddetails about the new government regulations and policies on investmentencouragement for the promotion of innovative startup activities, during aworkshop held in Hanoi on August 14.

The panels mentioned a project run by theMinistry of Science and Technology which looks to support the nationalinnovation system to 2025 and regulations on investment for small-scalebusinesses and start-ups according to the Government’s Decree No.38/2018/ND-CP.

Phan Hoang Lan, a representative from theDepartment of Market Development and Science-Technology under the Ministry ofScience and Technology, said policies relating to startups are still new inVietnam and need time for reflection and review.

It takes about three years for the country tobuild a legal framework and supportive policies, she added.

Trinh Thi Huong, a representative from theAgency for Enterprise Development under the Ministry of Planning andInvestment, said the decree encourages the establishment of innovative startupfirms.

The Ministry of Science and Technology said itwill propose a mechanism to attract investment in innovative startups frombusinesses at home and abroad, especially from overseas Vietnameseintellectuals. –VNA


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