Participants shared their experiences in mobilizing investment funds for start-ups in a number of countries such as the US, the Republic of Korea, Israel, and Singapore.

They proposed that the state should have a favorable legal framework for risk investments in start-ups and that the government should have resources for such funds. 

In his address, Deputy Prime Minister Vuong Dinh Hue said Vietnam aims to have 1 million businesses by 2020.

 “The government will do what it can to support businesses. The government should consider itself an initial business incubator. The government is researching a legal framework to generate funding for start-up businesses," he said.

The National Financial Supervisory Commission signed a memorandum of understanding on cooperation in national and cross-border financial supervision with the Republic of Korea’s Financial Services Commission.    

Experts also shared successful startup models from other countries, saying the Vietnamese Government should build an investment fund to support startups. 

A clear and transparent institution is needed to ensure the effective implementation of the fund in line with the market economy’s principles and international practices, they said. 

Participants also suggested the Government adopt policies to attract venture investment funds to Vietnam while establishing stock exchanges specifically designed for startup activities.