The Directive stated that although the Government has issued Resolution No. 01 on creating favourable conditions for investment and business activities, the Vietnam’s startup ecosystem still faces difficulties and barriers and remains less competitive compared to that of other countries in the region.

The PM has signed Directive No.09/CT-TTg asking for more favourable conditions for start-ups.

Therefore, the PM asked the Ministry of Planning and Investment (MPI) to urge its business registration agencies to provide detailed guidance and facilitate startups to register new business lines that are not included in the current business line codes and the national database on business registration.

The government leader also asked for the amendment to the Investment Law to facilitate foreign investors in establishing, contributing capital and purchasing shares in startup investment funds in Vietnam.

The Directive urged the MPI to build a draft decree on incentive mechanisms and policies for the National Innovation Centre and submit the draft decree to competent agencies in the first quarter of 2020.

Meanwhile, the Ministry of Science and Technology should continue to implement the project on supporting the national innovation start-up ecosystem by 2025 and technology incubators and report the results to the PM in the first quarter of 2020.

The PM also requested the building of three innovation and startup centres at three universities as well as promoting the startup ecosystem within the education sector.

In particular, PM Phuc asked for the establishment of a capital trading platform for startups and the result should be reported to the PM in 2020-2021 period.

In addition, policy consultancy and favourable legal corridor for technology startups must be set up.

National startup festival for students to be held in Hanoi

A national startup festival for students will take place from October 4-5 in the Hanoi University of Technology, aiming to encourage innovation startup spirit for students across the country.

7 provinces attend Women’s creative startup festival in Bac Giang

(BGO) – The Women’s Union in Bac Giang province on October 1 coordinated with the Women’s Union in the provinces in the Northern midland and mountainous emulative cluster to hold the Women’s Creative Startup Festival and trade promotion conference in 2019.

Medlink wins first startup contest VietChallenge 2019

Medlink – the supplier of a platform for direct connectivity among drug companies and pharmacies has won the first prize of VietChallenge 2019, an annual startup competition for Vietnamese entrepreneurs from all over the world.

Startup with bakery shop

(BGO) – The student of Hanoi Academy of Military Science and Technology Nguyen Van Du (born in 1990) in Thanh pagoda residential group, Xuong Giang ward, Bac Giang city decided to drop out off the university to start up his business at his hometown. After overcoming the initial difficulties in 3 years, Du now firmly owns two economic models.

Vietnam Startup Day 2019 underway in HCM City

The Vietnam Startup Day 2019 is underway in Ho Chi Minh City from August 23 – 24, attracting nearly 200 projects and hundreds of domestic and foreign investors from the US, Canada, Australia, the UK, Singapore, the Republic of Korea, Thailand, Malaysia and Nepal.

Source: NDO