Da Nang People's Committee Vice Chairman Ho Ky Minh on Tuesday hosted a group of the Viet Nam Innovation Network in South Korea. He stated that the city has paid special attention to innovative startup ideas in order to provide active support for them and help them grow. Till date, the city has built a diverse innovative startup ecosystem with a full of elements such as incubators, creative spaces, and investment funds.

Da Nang People's Committee Vice Chairman Ho Ky Minh (middle) meeting with a group of the Viet Nam Innovation Network in South Korea.

In the coming time, the city will soon put the Software Park No. 2 into operation, in which, a space is designated for innovative start-ups. In addition, 100 hectares of land in the Hi-Tech Park will be reserved for high-tech enterprises.

Vice Chairman Minh praised the proposals of the Viet Nam Innovation Network in South Korea on boosting cooperation in trade, investment, and start-ups between South Korea and Da Nang, and Viet Nam as a whole.

Mr Minh asked the municipal Department of Science and Technology to work with the Viet Nam Innovation Network in South Korea to make a proposal for establishing South Korea-Da Nang venture capital fund to invest in innovative start-ups in a bid to submit it to the municipal Department of Finance for consideration and approval.

The city leader directed the municipal Investment Promotion and Enterprise Support Center to work with the Viet Nam Innovation Network in South Korea for promoting investment flows from South Korea to Da Nang. In addition, relevant local agencies were tasked to work with their partners to strengthen cooperation in investment, trade, and innovative start-ups between South Korea and Da Nang in order to submit their proposals to the Da Nang administration for consideration.

Mr. Nguyen Quang Phuoc, the Chairman of the Viet Nam Innovation Network in South Korea, presented his organization’s proposals for developing high-quality human resources. Including are increasing South Korean language-related training programmes at the Viet Nam-Korea University of Information and Communication Technology based in Da Nang in order to facilitate these programmes’ attendees to receive intensive training in South Korea, as well as enhancing cooperation between South Korean and Da Nang information technology companies, establishing South Korea - Da Nang venture capital fund created by Vietnamese businesses operating in South Korea.

Reporting by MAI QUE – Translating by H.L