Ho Chi Minh City Approves Establishment of 5 Trillion VND Venture Fund, Prioritizing Investments in Blockchain and AI

Odaily News: The Ho Chi Minh City People's Committee in Vietnam has officially approved a project to establish a large new venture capital fund. This venture fund plans to raise 5 trillion Vietnamese dong (approximately $190 million) by 2035 to promote the city's technology ecosystem development. Priority investment areas include artificial intelligence and blockchain digital technology, semiconductors, biotechnology, and renewable energy. A consortium of multiple companies and investment funds, including Vingroup, Sovico Group, VinaCapital, FPT Corporation, and Lotte Ventures Vietnam, will participate in the fund. (Startupresearcher)