Risky hi-tech investment fund - new lever for development

VGP - The Ministry of Science and Technology (MoST) of Việt Nam intended to submit the Bill on Science and High Technology to the National Assembly’s upcoming fourth sitting scheduled next month. The initiative in formulating a risky hi-tech investment fund, as proposed in the Bill, is widely expected as a lever for hi-tech development in Việt Nam.

September 06, 2008 3:09 PM GMT+7

Hòa Lạc Hi-tech Park is one of typical hi-tech investment projects in Việt Nam - Illustration photo

Such funds serve to provide capital and consulting services to promising organizations, individuals and enterprises engaging in high technologies. Money recourses of the funds will be mobilized from the State budget, donations and joint-venture projects among domestic and international enterprises, and others.

The beneficiaries are mainly successful inventors (organizations or individuals), hi-tech enterprises, small and medium ones having hi-tech projects.

To fruitfully invest in this field, the National Assembly recommends the Government to design proper mechanism for ordering and tendering key hi-tech projects.

At present, there are around 100 research institutes and 80 universities and colleges in Việt Nam involving in hi-tech field. Out of over 30 risky investment funds in Việt Nam, only one, administered by IDG Corporation (US) eyes to this field (mainly in information technology).

Over 60 projects, totally worth of US $2.1 billion, have been registered in two key hi-tech parks in Hồ Chí Minh City and Hà Nội

By Thanh Thúy