Hanoi (VNA) - Investors are confident in the potential of Vietnam's innovative startup ecosystem, and believe the country will become a big investment market in the region and the world,according to head of the Vietnam representative office of GenesiaVentures, an investment fund of Japan, HoangThi Kim Dung.

According to a report published by Do Ventures - a venture capitalfund that focuses on making investments in tech startups in Vietnam andSoutheast Asia -  in 2020, Vietnam's innovative startup ecosystem rankedthird in Southeast Asia, after Singapore and Indonesia.

Vietnam’s national innovation startup ecosystem is likely to earn a berth inthe top 15 emerging ones in the Asia-Pacific region by 2030, the report said.

The Prime Minister in 2016 approved a project to support the national innovative startup ecosystem through 2025 under Decision No. 844/ QD-TTg (Project 844), which was designed to promote andsupport the formation and development of startup projects or startupenterprises and urgently complete the legal system tosupport innovative startups.

To further promote thedevelopment of Vietnam's innovative startup ecosystem in an intensive manner, recentlythe PM has approved the amending andsupplementing of a numberof articles in DecisionNo 844/QD-TTg.

Accordingly, an additional target is to build a system of innovation centres to support research anddevelopment (R&D) and creative startups, in tandem with ensuring theirsuccessful operation with specific, outstanding and highly competitivemechanisms and policies to make sure that they will be on par with otherregionally and internationally leveled ones.

The green light will be givento developing national creative startup support centres in Vietnam’s threelargest cites: Hanoi, Da Nang and Ho Chi Minh City, and innovative startup centresat ministries, sectors and localities, and organizations which boast potentialfor  innovation and startup.

Attention will bepaid to encouraging moreinteraction amongst innovative startup centres across the country and innovative startup ecosystems at homeand abroad.

Vietnam hopes to establish international cooperationprogrammes with partners in at least five prestigious innovative startup ecosystems in the world by 2025, and attractmore foreign resources to support domestic innovation startups.

According to statistics from the Project 844’s office, there are nearly 100 venture capital funds in Vietnam, including about 20 domestic funds. Each investment fund has different networks and strengths, so startups need to thoroughly research and group potential investors in accordance with their development orientation and goals./.