HCM City: over 500 startup projects launched

More than 500 startup projects have been launched in Ho Chi Minh City in the first six months of this year, heard a recent conference of the municipal Party Committee.

More than 500 startup projects have been launched in Ho Chi Minh City in the first six months of this year (Source: VGP)

More than 500 startup projects have been launched in Ho Chi Minh City in the first six months of this year (Source: VGP)

In the first half of this year, the city provided support in terms of finance, administrative procedures, technologies and personnel training for 439 startup projects. 

According to Vice Chairman of the municipal People’s Committee Le Thanh Liem, the city aims to have 500,000 enterprises by 2020. 

HCM City has paid attention to innovation and startups to improve economic growth quality, he said, adding that the southern economic hub issued regulations supporting startups, rolled out plans completing the startup ecosystem and assisted small-and medium-sized enterprises. 

There are 13 venture investment funds connected with the city to aid local startups, Liem said.

The HCM City Young Businesspeople Association said it will support 1,000 startup projects during 2016-2020. 

During January-June, the city’s economy grew 7.76 percent, compared with 7.47 percent in the same period last year. 

Vietnamplus

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