Forum promotes startup links at home and abroad

The two-day forum, co-held by the Ministry of Foreign Affairs and the municipal People’s Committee, is seen as a good opportunity for experts to share experience, give advice, and outline development orientations for Vietnamese startups.

Addressing the forum, Nguyen Thien Nhan, politburo member and Secretary of the municipal Party Committee, highlighted HCM City’s aims to develop into a special urban area and a pioneer in the national modernization and industrialization cause towards becoming a major hub of economics, finance, trade, science and technology in the country and Southeast Asia.

He said he hopes that through the forum, experts will help the city deal with problems that hinder its development, one of which is the lack of connectivity between the scientist circle and businesses.

It is imperative to connect Vietnamese startups locally and internationally with major businesses, potential investors, investment funds, provide opportunities for Vietnamese startups in Vietnam and abroad to interact directly with Vietnamese policy makers on advantages, difficulties and needs for support, the municipal leader emphasized.

Nhan also raised the issue of whether low income earners can successfully start up their businesses and cited successful startup examples such as Israel and other nations. HCM City in particular and Vietnam in general need to establish support mechanisms and a startup eco-system to connect Vietnamese startups at home and abroad.

He underlined the importance of science and technology, as well as the need for a highly qualified workforce and technological capabilities in order to connect to financial sources.

During the forum, eight scholars from Vietnam, the US, Canada and Israel gave presentations on start-ups with a focus on the initial stage of start-up projects, the development of start-up businesses and introducing Vietnamese start-ups to the world.

Tuan Pham, Managing Director of Silicon Valley Bank said there has been a wealth of opportunities for Vietnamese Americans to improve Vietnam’s start-up eco-system and pledged greater efforts to strengthen connectivity between US founders, Vietnamese Americans and Vietnamese partners.