OV scholar suggests shifting to overseas venture investment
A Vietnamese scholar in the Netherlands suggested Vietnam shift to venture investment abroad rather than relying on developing the intellectual-based economy at home during a seminar held in Geneva.
Geneva (VNA) – AVietnamese scholar in the Netherlands suggested Vietnam shift to ventureinvestment abroad rather than relying on developing the intellectual-basedeconomy at home during a seminar recently held in Geneva, Switzerland.
According to Dr Hoang Ngoc Giang,lecturer at Utrecht University of the Netherlands and former independent advisorto several venture investment funds in Switzerland, the Vietnamese economy isfocusing on attracting foreign capital to facilitate technology transfer andsend experts abroad for studies, and has recently embarked on a plan to developitself into a start-up nation.
However, he described thisapproach as unfeasible, reasoning that four major pillars of Vietnam’s intellectual-basedeconomy, including education-training, innovation eco-system, informationinfrastructure, economic climate and social institutions, remain insufficientand weak.
In his suggestion, the toppriority should be given to technology because it is the greatest source ofadded value in the future. In spite of requiring long-term capital (5-10 years)and exposing weak liquidity and high risks, it will bridge development gap andbring strategic interests to Vietnam regarding governance skills and competivenesslearnt from the most developed economies.
He proposed that direct outboundinvestment could be made by sending the most excellent intellectuals abroad to nurtureand commercialise inventions, providing aid for successful start-ups to joinrelevant overseas competitions, and pouring capital into start-up ideas by Vietnamesestudents and workers in host countries.
Indirect investment could be madeby contributing capital to overseas venture investment funds and start-ups, hesaid.
In order to utilise linkagebetween overseas venture investment and domestic manufacturing, he calledattention to drafting a detailed plan on venture investment abroad, arranginghuman resources and capital to build a start-up ecosystem, establishing aVietnam venture investment fund abroad, prioritising agricultural andprocessing technology projects, and screening relevant start-ups.-VNA
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Delegates at the event (Source: VNA) 
