Can Tho proposes 500 billion dong venture fund for AI and semiconductors

Can Tho has proposed creating a 500 billion dong venture capital fund to address the financing gap faced by innovative start-ups and high-tech companies in their early stages.

The city People’s Committee submitted the proposal to the municipal People’s Council for consideration and approval on September 7. The fund would operate as a joint-stock company under a public-private partnership model, combining city budget funds with contributions from companies, individual investors and domestic and foreign venture capital funds.

Of the planned initial charter capital in 2026, the state budget would provide 200 billion dong, or 40%, while private investors would contribute 300 billion dong, or 60%. The fund aims to increase its charter capital to at least 1 trillion dong by 2035.

Priority sectors would include digital technology, such as applied AI, big data and cybersecurity; semiconductor and integrated-circuit technology; biotechnology; medical engineering; advanced materials; renewable energy; manufacturing technology; automation and robotics. The proposal says the fund could help commercialize research results and strengthen Can Tho’s innovation ecosystem.

The plan also sets a risk framework. Total losses during a single investment cycle could not exceed 50% of charter capital. Fund officials would receive civil and administrative liability exemptions if they complied with the required procedures but encountered objective risks.