Vietnamplus

Many overseas Vietnamese have returned to Vietnam to start their business as they see high potential and good economic growth.

SK Group, the third largest conglomerate in the Republic of Korea, on June 9 announced its plan to fund 30 million USD for Vietnam’s National Innovation Centre (NIC).

The first one commune-one product (OCOP) fair of the Mekong Delta region opened in Ben Tre city in the province of the same name on June 6, with 350 booths set up by 25 cities and provinces.

Recommendations to promote innovation and the startup ecosystem in Vietnam, as well as measures to enhance cooperation between Vietnam and Germany in these fields were highlighted at a workshop held by the Vietnamese Embassy in Germany on May 15.

Vietnamese startups are expected to have more opportunities to receive investment and support from Korean investors, who are coming in droves in Vietnam, experts have said.

Vietnamese start-ups received 889 million USD from domestic and overseas venture capital funds through 92 business deals.

The Saigon Hi-Tech Park’s Incubation Centre (SHTP-IC) and the non-profit organisation New Energy Nexus Southeast Asia on April 10 held a seminar discussing startups in smart energy development in Vietnam.

The central coastal city of Da Nang is making strides towards turning itself into an eco-smart urban area, a hub for startups and innovation, and one of the most liveable cities in Asia by 2045 under its smart city development project announced at a conference on April 10.

Forbes magazine has announced its fourth annual “30 Under 30 Asia 2019” list, featuring 300 entrepreneurs and young leaders who are contributing to their industries and making an impact across the Asia-Pacific region.

The number of newly-established businesses in the first quarter of this year reached 28,451 with the total registered capital of 375.5 trillion VND (16.14 billion USD), up 6.2 percent and 34.8 percent year-on-year, respectively.

The central coastal city of Da Nang is working to turn itself into a food smart city as part of efforts to concretise its target of becoming an eco-smart urban area and a regional hub for startups and innovation until 2030 with a vision to 2045.

Vietnam has about 3,000 innovative startup businesses or startups. However, not many startups are successful in calling for investment.

Many students showed interest in logistics startups while attending a recent seminar held by the Ministry of Industry and Trade (MoIT)’s Export-Import Department and the Vietnam logistics training network.

VinaCapital Ventures, a Vietnam-focused venture capital platform, announced on March 15 that it has successfully invested in the tech startups of UrBox and Wee Digital.

Google has recently announced a programme helping Vietnamese startups go global.

Malaysian budget airline AirAsia Group has introduced an adventure capital fund in the US to invest in startups seeking to enter or expand their presence in Southeast Asia.

Elsa Speak, an English learning application, has successfully raised 7 million USD in funding from Google and Silicon Valley in the US.

The Vietnam Business Association in the Republic of Korea (VIBAK) held a seminar in the southern city of Ansan on February 24 to discuss startups and business registration.

Mentors are needed to help young Vietnamese entrepreneurs grow their businesses, but connections are still modest, experts said.

The number of Oversea Vietnamese (OV) returning home to invest and run business have risen amidst the increasing international integration of Vietnam, contributing to the national development, stated Luong Thanh Nghi, deputy head of the State Committee for Overseas Vietnamese Affairs.