Ho Chi Minh City to Establish $190 Million Venture Capital Fund by 2035

Ho Chi Minh City’s People’s Committee has given the green light to a project aimed at establishing a venture capital fund with a target of raising 5 trillion Vietnamese dong, approximately 190 million USD, by 2035. According to NS3.AI, the fund is designed to bolster the city’s technology ecosystem, with a focus on sectors such as artificial intelligence, blockchain digital technologies, semiconductors, biotechnology, and renewable energy. Prominent local conglomerates, including Vingroup and Sovico Group, are noted as participants in this initiative.