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Building a VC Market in Vietnam: VC Policy Lessons from Europe and Asia

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  • Mai, Nhat Chi

Abstract

In the 1980s, a belief was promulgated that governments should deploy public policy to create national venture capital (“VC”) markets if they were not naturally occurring. This is due to the VC industry’s role in driving innovation, employment and economic growth by financing and providing operational expertise to start‐ups. The widespread acceptance of this norm, coupled with the spectacular returns produced by American VCs through the 1980s, drove the creation of public VC policies in over twenty countries, particularly those states competing in the global technology market. The resultant public VC policies are a form of industrial policy that is specifically focused on creating a VC industry, and consists of tax treatment, legal structures, and government funding.

Suggested Citation

  • Mai, Nhat Chi, 2011. "Building a VC Market in Vietnam: VC Policy Lessons from Europe and Asia," OSF Preprints 968ye, Center for Open Science.
    • Handle: RePEc:osf:osfxxx:968ye
    DOI: 10.31219/osf.io/968ye
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    1. Gil Avnimelech & Morris Teubal, 2004. "Strength of Market Forces and the Successful Emergence of Israel's Venture Capital Industry. Insights from a Policy-Led Case of Structural Change," Revue économique, Presses de Sciences-Po, vol. 55(6), pages 1265-1300.
    2. Kim, Annette Miae, 2008. "Learning to be Capitalists: Entrepreneurs in Vietnam's Transition Economy," OUP Catalogue, Oxford University Press, number 9780195369397.
    3. Quan-Hoang Vuong, 2004. "The Vietnam's Transition Economy and Its Fledgling Financial Markets: 1986-2003," Working Papers CEB 04-032.RS, ULB -- Universite Libre de Bruxelles.
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