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Vietnam pledges to solve 'pain points' for tech startups and VCs

Rules to be eased on startup financing as global volatility spooks investors

Nguyen Duc Long of Vietnam's National Innovation Center told a tech summit in Ho Chi Minh City that officials know they "can do a lot more" to encourage startups and investors. (Photo by Forbes)

HO CHI MINH CITY -- Easier regulations are on the horizon, Vietnam has told technology startups and investors, in contrast to the red tape that has grown amid the country's widening crackdown on corruption.

Nguyen Duc Long, acting director of the country's National Innovation Center (NIC), said in an interview that Vietnam will revise Decree 38, which legally defines startups and venture capital and lets the government invest in startups. But he told Nikkei Asia it would be "more difficult" to change other rules, such as those on cross-border transactions in Vietnam, which strictly controls money sent abroad, including for stock listings.

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