Business

Vietnam ranks third in Southeast Asia in startup investment attraction

Vietnam maintained its third position in the number of investment deals and regained the third place in terms of total investment in startups in Southeast Asia.
Vietnam ranks third in Southeast Asia in startup investment attraction ảnh 1Deputy Minister of Planning and Investment Tran Duy Dong speaking at Vietnam Innovation Forum 2024 (Photo: qdnd.vn)
Hanoi (VNA) - Vietnam maintained its thirdposition in the number of investment deals and regained the third place in termsof total investment in startups in Southeast Asia.

In 2023, Vietnamese startups received a total investment capitalof 529 million USD.

Singapore led in both the number of deals and total investmentcapital for startups, followed by Indonesia.

That is notable information in the 2024 Technology and InnovationInvestment Report released at the Vietnam Innovation Forum 2024.

This forum was organised in Ho Chi Minh City on April 26 by theNational Innovation Centre (NIC) and Do Ventures Investment Fund under thesponsorship of the Ministry of Planning and Investment.

This report also said that in 2023, Vietnamese startups' totalinvestment capital of 529 million USD dropped by 17% compared to the previousyear.

Meanwhile, Vietnam's number of deals involving startups slightlydecreased by 9% to 122 deals.

This decline shows that the technology investment landscape in Vietnamcontinues to be affected by changes in the global economy.

However, this reduction rate was slighter than the decrease of 35%to 345 billion USD in total global venture capital investment, showing that theVietnam market is still an attractive destination in the capital market.

In 2023, nearly 100 funds poured capital into Vietnamese startups,of which the most active investors came from Singapore, followed by Vietnameseinvestors.

Of which, the healthcare sector received the highest investment,skyrocketing 391% over the previous year. The education sector also received ahigh amount of capital, up 107% year on year.

Speaking at the forum, Deputy Minister of Planning and InvestmentTran Duy Dong said that as a pioneer country in the field of innovation, Vietnamcommits to upgrading the national innovation ecosystem, attracting investmentand talent.

With preferential policy mechanisms and simplified regulations, Vietnamwill accompany startups, corporations, organisations and experts to developscience and technology, promote innovation, contributing to the country'seconomic growth.

Vietnam has moved up two places in the Global Innovation Index(GII) in 2023, ranking 46th out of 132 countries and territories, according toa GII report released by the World Intellectual Property Organisation (WIPO).

Vietnam is one of seven middle-income countries having made themost progress in innovation over the past decade.

This positive results are owing to the continuous efforts oforganisations, individuals and businesses in the work of innovation, Dong said./.
VNA
#Vietnam #ranks third #Southeast Asia #startup investment attraction #2024 Technology and Innovation Investment Report #Vietnam Innovation Forum 2024 #vietnam news agency #vietnamplus Vietnam
Follow VietnamPlus

Related News

See more

A working team from Coast Guard Region 2 Command inspects fishing licences and vessel monitoring system and guides fishermen on compliance with IUU fishing regulations. (Photo: VNA)

Da Nang city tightens controls to prevent IUU fishing violations

The city’s authorities are tightening inspections and controls to prevent fishing vessels from violating IUU regulations, particularly in foreign waters, as part of efforts to help Vietnam have the European Commission’s “yellow card” warning lifted.

Vietcombank has launched a 50 trillion VND (1.9 billion USD) credit package to provide preferential financing to businesses, particularly small and medium-sized enterprises (SMEs), priority sectors and new growth drivers of the economy (Photo published by Bnews/VNA)

More preferential credit available to businesses

Under SBV requirements, commercial banks are to provide Vietnamese-dong loans to SMEs and growth-driving sectors at rates at least 1 percentage point per year lower than their average rates for loans of the same maturity. They are also required to consider waiving or reducing service fees for eligible customers in line with regulations and their financial capacity.

Delegates at the Vietnam-UK High-Level Conference 2026. (Photo: moit.gov.vn)

Vietnam, UK seek new growth drivers in technology, logistics

British Ambassador to Vietnam Iain Frew highlighted the importance of strengthening bilateral cooperation as Vietnam - UK relations have been upgraded to a Comprehensive Strategic Partnership. He said technology, finance, innovation and digital transformation are opening up new opportunities for cooperation, enabling businesses from both countries to connect, share experience and explore investment and business opportunities.

The Ngoc Hoi interchange project in Tay Nha Trang ward, Khanh Hoa province, with some items yet to be completed (Illustrative photo: VNA)

Over 60% of long-stalled projects have obstacles resolved

Of the 8,002 long-stalled projects, 4,938 completed the settlement of obstacles in line with conclusions of the Party Central Committee and resolutions of the National Assembly and Government, as well as relevant Government decrees and guiding documents as of July 20, up 564 projects from the previous month.

The Vietnam National Railway Group will operate as a multi-sector economic group, with its business portfolio expanded to 110 sectors. (Photo: VNA)

Vietnam Railways Corporation becomes Vietnam National Railway Group

The group inherits all rights, obligations and responsibilities of the Vietnam Railways Corporation in accordance with the laws on railways, enterprises, and management and investment of state capital in enterprises, and other relevant legal provisions, as well as existing agreements, documents and contracts signed with related parties in accordance with the law.

Coffee production process at Ngon Avatar Co., Ltd. meets the requirements for official exports to New Zealand and several European markets. (Photo: VNA)

Vietnam, New Zealand seek new impetus for trade ties

The state visit to New Zealand by General Secretary of the Communist Party of Vietnam (CPV) Central Committee and President To Lam is expected to provide fresh impetus for market opening, removal of trade barriers and stronger economic links following the elevation of bilateral relations to a Comprehensive Strategic Partnership in February 2025.