HCM City (VNA) – The Ho ChiMinh City Committee for Overseas Vietnamese Affairs held a local dialoguebetween overseas Vietnamese firms and leaders of municipal departments andagencies on December 12 to discuss opportunities and challenges in startingcompanies in the city.

Speaking at the event, Chairman of thecommittee Phung Cong Dung said in recent years, Vietnamese worldwide have wantedto contribute to local development. However, conditions for startups, includinglegal framework, incentives and venture funds, remain limited so fiscal policyis the most important thing for them to thrive.

Deputy head of the State Committee for OverseasVietnamese Affairs Nguyen Hoanh Nam said the business environment in Vietnam isvibrant, with annual gross domestic product surpassing 6 percent.

Tran Ngoc Phu, a French-Vietnamese, wishedthat municipal committee and media outlets would serve as a bridge between overseasVietnamese firms and local authorities while more dialogues with the firmswould be held to remove difficulties.

Vo Thanh Dang from Singapore said with apopulation of nearly 10 million people, Ho Chi Minh City will be attractive to youngstart-ups.

Deputy Director of the municipal Departmentof Science and Technology Nguyen Ky Phung said since 2017, the city hasearmarked more than 90 million USD for startups and innovation. Its startupecological system includes 20 foreign partners, 24 incubators, 12 startup spacesand more than 760 startups, mostly in information and communicationstechnology, agriculture and education-training.

Statistics from the municipal committeeshowed that the city welcomes more than 30,000 young overseas Vietnamese eachyear to seek business opportunities.-VNA