Deputy Minister of Planning and Investment Tran Duy Dong speaks at the announcement ceremony. (Photo: kinhtevadubao.vn) The VietnamNational Innovation Centre (NIC) and the venture capital firm Do Ventures Vietnamjointly released the Vietnam Innovation and Tech Investment Report on April 21.
This is thesecond year that the Vietnam Innovation and Technology Investment Report hasbeen released.
Speaking atthe ceremony, Deputy Minister of Planning and Investment (MPI) Tran Duy Dongsaid innovation was an inevitable trend not only in Vietnam but alsoaround the world.
In recentyears, Vietnam had made drastic changes in mechanisms and policies forinnovation, which is reflected in the Global Innovation Ranking (GII), wherethe country moved from 52nd place out of 141 countries and economies in 2015 to44 out of 132 last year, holding the number one position in the group of29 countries with the same income level.
Lastyear the economy faced many difficulties because of the COVID-19pandemic, but it was also a record year for venture investment in Vietnam witha total investment of 1.4 billion USD, an increase of 1.5 times compared to theprevious record at 874 million USD in 2019, with the appearance of two newtechnology "unicorns" Momo and Sky Mavis.
NIC reportedthat the total number of investment funds participating in Vietnamincreased by 60 per cent, evenly distributed among countries.
Among them,the country with the most active investors last year was Singapore, followed byVietnam and the US.
Investmentactivities from Japan into Vietnam are also gradually becoming more activeafter two years of slowing down.
Totaltransactions of deals over 10 million USD exceeded 1 billion USD, up 255 percentover the previous year.
While thecapital inflow into the seed round increased to a record high in both volumeand value of the deal, the capital inflow into the rounds after series A hasreturned to pre-COVID-19 levels.
In particular,last year saw the appearance of five transactions worth over 100 million USD inthe fields of payment, e-commerce and gaming.
With a largenumber of potential early-stage companies and a favourable business environmentthanks to the close support of the Government, Vietnam's commercial ecosystemis ready to enter a more mature stage.
Le Hoang UyenVy, CEO of Do Ventures, said that the e-commerce and start-up ecosystem in Vietnam hadmade impressive recovery steps last year thanks to the persistence ofbusinesses, as well as timely support from the Government.
“With thecurrent momentum of development, I believe that Vietnamese founders willcontinue to achieve success and make Vietnam a remarkable technology hub in theregion,” said Vy.
DeputyMinister Tran Duy Dong also affirmed that the domestic innovation and start-upecosystem has recovered and reached a new height.
"This isgood news and contributes to promote the growth of Vietnam's digital economy, apositive sign that we are on track to complete the target group of a digitaleconomy that will contribute 30 percent of GDP by 2030,” said Dong./.
VNA
