HANOI, Aug. 27 (Xinhua) -- Vietnam has issued a decree to amend regulations on innovative startup investment, aiming to boost capital access and foster a more favorable legal environment for entrepreneurship, Vietnam News Agency reported Wednesday.
Taking effect on Sept. 1, the decree allows venture capital funds to mobilize capital from two to 30 investors and permits capital contributions in the form of land use rights, intellectual property, technologies, or other lawful assets in addition to cash, according to the report.
The regulation also introduces flexible investment instruments such as share purchase rights and convertible tools, in addition to direct equity contributions.
The amendment is expected to facilitate earlier-stage and more diversified capital access for innovative startups, following Prime Minister Pham Minh Chinh's nationwide call for the startup movement at the end of July, the state-owned media added. ■
