Vietnam is entering a new phase of growth, where innovation, science, and technology are at the forefront of shaping its future. From being an emerging market, Vietnam has now risen to become a strategic destination for technology investment in Southeast Asia, driven by the aspirations of the entrepreneurial community and strategic guidance from the government
With a large workforce, lower labour costs and sizeable market, Vietnam is one of the popular destinations for Singapore’s start-ups, according to The Straits Times newspaper.
Fintech and e-commerce accounted for 70 percent of total venture capital in the country last year, and this trend is predicted to continue in 2022, Dau tu (Vietnam Investment Review) reported.
Indonesia and Singapore currently dominate the venture capital (VC) fundraising in Southeast Asia, despite a slower pace of capital raising in the first quarter this year.
A two-day startup festival (TechFest Vietnam 2016) that concluded in Hanoi on November 13 attracted nearly 170 investors and more than 3,000 visitors, according to the organisers.