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Venture summit spotlights shifting global capital flows

The Vietnam Venture Summit 2022 took place in Hanoi on December 19 under the theme “Shifting Global Capital Flows”.
Venture summit spotlights shifting global capital flows ảnh 1Illustrative image. (Photo: baodautu.vn)
Hanoi (VNA) – The VietnamVenture Summit 2022 took place in Hanoi on December 19 under the theme “ShiftingGlobal Capital Flows”.

In his opening remarks, Minister ofPlanning and Investment Nguyen Chi Dung said global investment trends arechanging profoundly as a result of geopolitical uncertainties and a risk ofrecession in many big economies. The shift of capital flows has been takingplace strongly among regions and countries, in which there are fewer investmentopportunities for both startups and investors.

Venture summit spotlights shifting global capital flows ảnh 2Minister of Planning and Investment Nguyen Chi Dung speaks at the event. (Photo: VNA)
Vinnie Lauria, founder and managing partnerof Golden Gate Ventures, said in the first decade of the startup ecosystem inSoutheast Asia, Singapore and Indonesia were the leading growth drivers, withSingapore holding financial and human resources and Indonesia a giant domesticmarket.

In 2022, Vietnam has become the thirdpillar of this triangle, bringing about a perfect combination of leadingtechnological talent, the entrepreneurial culture of Vietnam, and afast-growing domestic market, he noted.

He added Vietnam is currentlyassessed as the latest gemstone of Southeast Asia, and its emergence comes as aresult of its market’s attractiveness to investors and the Government’s supportfor the startup ecosystem.

Vietnamese startups raised a recordof 1.4 billion USD with 165 transactions in 2021, up 1.6 times from the 894million USD and 126 transactions in 2019. This indicated that transactions inthe market have regained momentum after a pandemic-triggered decline. The upwardtrend is forecast to continue in 2023, according to the National InnovationCentre (NIC).

Some factors turning Vietnam into abright spot of investment attraction include political stability, a young andeducated workforce, developed infrastructure, digital skills, and innovationcapacity. Besides, the country is considered a promised land for high-qualityFDI and large international enterprises that are seeking investmentopportunities to diversify supply chains and reduce the dependence on the Chinesemarket.

Venture summit spotlights shifting global capital flows ảnh 3An overview of the summit. (Photo: VNA)
Vietnam has become a leadingcandidate for the shift of capital flows, the NIC said, adding that the countryis now at an important turning point of its economic development process. Its staturein the region, impacts of the COVID-19 pandemic, and the strong growth ofinvestment funds have created a favourable context for Vietnam to hold an outstandingposition.

At the summit, aside from paneldiscussions and seminars, a programme named Speed Matching was also held to connectstartups with over 30 domestic and foreign investment funds.

The Vietnam Venture Summit is anannual event chaired by the Ministry of Planning and Investment andco-organised by the NIC and Golden Gate Ventures. It aims to connect thestartup and innovation ecosystems in Southeast Asia with regional andinternational investment funds./.

VNA
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