At the event (Source: VNA)
 
HCM City (VNA) – The Ho Chi Minh City Committee for Overseas Vietnamese Affairs held a local dialogue between overseas Vietnamese firms and leaders of municipal departments and agencies on December 12 to discuss opportunities and challenges in starting companies in the city.

Speaking at the event, Chairman of the committee Phung Cong Dung said in recent years, Vietnamese worldwide have wanted to contribute to local development. However, conditions for startups, including legal framework, incentives and venture funds, remain limited so fiscal policy is the most important thing for them to thrive.

Deputy head of the State Committee for Overseas Vietnamese Affairs Nguyen Hoanh Nam said the business environment in Vietnam is vibrant, with annual gross domestic product surpassing 6 percent.

Tran Ngoc Phu, a French-Vietnamese, wished that municipal committee and media outlets would serve as a bridge between overseas Vietnamese firms and local authorities while more dialogues with the firms would be held to remove difficulties.

Vo Thanh Dang from Singapore said with a population of nearly 10 million people, Ho Chi Minh City will be attractive to young start-ups.

Deputy Director of the municipal Department of Science and Technology Nguyen Ky Phung said since 2017, the city has earmarked more than 90 million USD for startups and innovation. Its startup ecological system includes 20 foreign partners, 24 incubators, 12 startup spaces and more than 760 startups, mostly in information and communications technology, agriculture and education-training.

Statistics from the municipal committee showed that the city welcomes more than 30,000 young overseas Vietnamese each year to seek business opportunities.-VNA