Việt Nam taps venture capital for innovation: Deputy Finance Minister

Việt Nam taps venture capital for innovation: Deputy Finance Minister

Venture capital is critical to spurring technological innovation and pushing Vietnamese firms into emerging sectors while supporting legal fine-tuning to create breakthrough momentum for economic growth, said Deputy Minister of Finance Nguyễn Đức Tâm.

The working session between Deputy Minister of Finance Nguyễn Đức Tâm and a delegation of foreign investors led by venture capital fund Argor Capital. — Photo tapchikinhtetaichinh.vn

During a recent working session with a delegation of foreign investors led by venture capital fund Argor Capital, Tâm called it a valuable opportunity to share investment information as Việt Nam races to meet a broad set of development targets.

The Vietnamese Party and State have identified science–technology and innovation as key drivers to reform the growth model, allowing the country to deliver double-digit economic expansion in the fastest and most sustainable way, he said.

To secure double-digit growth over the next two decades, he said the Vietnamese Government will maintain political and macroeconomic stability while building a transparent legal environment that treats domestic and foreign investors equally and cuts red tape to attract quality private and foreign capital.

The National Assembly recently passed the 2025 Investment Law, introducing reforms aligned with international practices and pushing decentralisation to create a healthier and more open business climate, he noted. The Ministry of Finance is also reviewing 30 years of foreign direct investment (FDI) policies in preparation for a new Politburo resolution that will bring more exceptional, breakthrough mechanisms tailored to the new context.

A national single-window portal for foreign investors is being built to streamline procedures through an integrated electronic platform linking with relevant government agencies, he added.

According to the official, investment priorities centre on strategic infrastructure projects, including the North–South high-speed railway, urban rail systems in Hà Nội and HCM City, aviation infrastructure, as well as science–technology, innovation, digital transformation and a skilled workforce.

The Vietnam International Financial Centre (VIFC) in HCM City and Đà Nẵng will become an important capital mobilisation channel for the country’s strategic infrastructure. The country is introducing its most competitive institutional and policy incentives, spanning tax, labour, land, visas and administrative procedures, to create supportive conditions for foreign investors operating in the centre, he noted.

Việt Nam is working to build a transparent and level playing field for foreign investors, he said, assigning the National Innovation Centre to partner with Argor Capital and the investor delegation to support connections with Việt Nam’s startup and innovation ecosystem and facilitate deeper access to investment opportunities in the country.

Aditya Kamath, Founding Partner of Argor Capital, called Việt Nam the fund’s key market. It has actively invested in Việt Nam’s technology and startup ecosystems and remains committed to backing innovation and entrepreneurship in the country.

Argor Capital and other foreign investors are keen to explore more investment and business expansion opportunities in Việt Nam, including potential involvement in the VIFC, he added.

Founded in 2018 and headquartered in Singapore, Argor Capital is licensed by the Monetary Authority of Singapore. It manages about US$400 million and focuses on Series A investments in Việt Nam, Indonesia and the Philippines.

To date, the fund has invested in 35 companies across consumption, finance and artificial intelligence. Its backers include leading global institutional investors such as sovereign wealth funds, financial institutions, family offices and multinational corporations. 

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