Ho Chi Minh City, Vietnam approves the establishment of a 50 trillion VND venture capital fund, prioritizing investments in areas such as AI and blockchain

Ho Chi Minh City, Vietnam has approved the establishment of a large new venture capital fund, which plans to raise 50 trillion Vietnamese dong (approximately 190 million USD) by 2035 to promote the development of the technology ecosystem in Ho Chi Minh City. Priority investment areas include artificial intelligence and blockchain digital technology, semiconductors, renewable energy, etc. Currently, several enterprises and investment funds, including Vingroup, Sovico Group, VinaCapital, FPT Corporation, and Lotte Ventures Vietnam, have formed a consortium to participate in this fund.