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Capital fund proposed in Vietnam to stimulate R&D in high-tech sector

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Vietnam's Science and Technology Ministry will urge the government to set up a multi-million dollar fund to stimulate research and development in the high-tech sector.

The proposed fund would stimulate research and development in the high-tech sector. The 450 billion dong (US$28 million) venture capital fund would be the first of its kind funded by the Vietnamese government which is intended to support high-tech companies whose projects are risky but could make large profits if successful. Chu Tuan Nha, Chair of the National Council for Science and Technology Policy has stated that the fund could boost efforts to develop effective and feasible high-tech products and encourage foreign investment in science and technology in Vietnam. Under the proposal, Vietnam's science minister would appoint management council, operation agency and supervisory board for the fund.

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