Gate News Report, March 8 — Ho Chi Minh City, Vietnam, has approved the establishment of a large venture capital fund, with plans to raise 5 trillion VND (approximately $190 million) by 2035 to promote the development of the local tech ecosystem. The fund will prioritize investments in artificial intelligence, blockchain digital technology, semiconductors, renewable energy, and other sectors. Currently, several companies and investment institutions, including Vingroup, Sovico Group, VinaCapital, FPT Corporation, and Lotte Ventures Vietnam, have formed a consortium to participate in the fund.
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