Illustrative photo. (Source: VNA)Hanoi (VNA) – Having the third most vibrant startup ecosystem inSoutheast Asia, Vietnam has been a promising land for foreign investors,according to Sergey Sinitsyn from the Moscow State Institute of InternationalRelations.
A report from the ESP Capital and Cento Ventures shows that investment forVietnam’s share of startup investment value in the region jumped from 5 percentin 2018 to 17 percent last year.
In the past four years, the country’s innovation and startup ecosystem hasdeveloped from dawn to a level that is significant to the whole region,Sinitsyn was reported by Sputnik as saying.
Vietnam has become a hub for innovation projects in Asia-Pacific, he said,adding attractive sectors include finance, education, technology, artificialintelligence and blockchain technology.
Several standout investments are Singaporean Temasek’s participation in VNGCorporation’s project, Softbanks & GIC’s investment in VNPAY, and WarburgPincus’s investment in MoMo.
Particularly, VNG Corporation became Vietnam’s first ever unicorn tech start-upfollowing investment of GIC, he said.
He stressed Vietnam has high-quality human resources, laying stress on theimportant roles of universities, institutes as well as business incubators and humanresources training centres.
Meanwhile, the Vietnamese Government plays a tectonic role in encouraging andsupporting a modern economy, he said, describing the Ministry of Science and Technology’seffort to organise the annual Techfest Vietnam which creates opportunities forlocal startups to access international markets like the US, the Republic ofKorea, Singapore and Russia as a significant milestone in pushing ahead aninnovative economy in the nation./.
VNA
