return icon Vietnamnet.vn

Investment in Vietnam’s start-ups exceeds US$1.3 billion

Digital technology is forecast to create US$74 billion for Vietnam's economy by 2027. However, Vietnam must attract investment capital from around the world, especially investment in startups.

 

Đầu tư cho khởi nghiệp tại Việt Nam đã vượt mốc 1,3 tỷ USD
There are more Vietnamese startups in high-tech fields such as AI and big data. Photo: Trong Dat

 

In the post-Covid-19 world, technology is becoming an indispensable part of life. Artificial intelligence, Big Data, 5G, Internet of Things (IoT) and automation are seen as new tech trends this year. The Covid-19 pandemic also has given a push to accelerate the application of technology, said Nguyen Dinh Thang - Chairman of Vietnam Digital Startup Club (VDI) at a conference on December 14.

According to Thang, during the pandemic, investment in innovation and start-ups around the world and Vietnam are still booming. To seize the opportunity to promote investment in technology, Vietnam needs to complete tge legal foundation for this field.

The Vietnam Digital Economy Potential Report shows that if it is fully utilized digital technology can bring US$74 billion to Vietnam by 2030, equivalent to 27% of Vietnam's GDP in 2020. The fields that can benefit the most are manufacturing, agriculture, food, education and training. For digital technologies to thrive and benefit the economy, investment will play a key role.

According to statistics of the Department of Market Development and Science and Technology Enterprises (Ministry of Science and Technology), investment in start-ups in Vietnam in 2021 witnessed remarkable growth, reaching more than $1.3 billion. The most attractive fields are financial technology (FinTech), games, education, healthcare and e-commerce. Currently, there are more than 200 investment funds operating in Vietnam with more than 100 business promotion organizations and incubators.

According to experts, these figures are a positive sign about capital flow into startups and technology companies in Vietnam. However, the country can still attract more investment from around the world.

Pham Hong Quat, Director of the Department of Market Development and Science and Technology Enterprises (Ministry of Science and Technology), said the Vietnam Software Association (Vinasa) has formed a network of angel investors and organized various events to connect and train startups. This is an opportunity for Vietnamese startups, especially in the field of IT and software, to meet consulting teams and investors.

Trong Dat

Global list includes name of Vietnamese “unicorns”

Global list includes name of Vietnamese “unicorns”

Startup Sky Mavis with the game Axie Infinity has surprised the Vietnamese startup community when it reached a huge total market capitalization - US$2.4 billion - after three years since its release, a record time in the Asian technology world.

Shares of Vietnamese tech-companies selling like hotcakes

Shares of Vietnamese tech-companies selling like hotcakes

Stocks of technology companies are selling very well in the Vietnamese stock market.

 

MORE NEWS

Authority maintains tough stance on safety violations on Hanoi’s “railway café street”

The Vietnam Railway Authority has insisted that it will take a hard line on railway traffic safety violations along Hanoi’s popular "railway café street" sketching across the inner districts in its recent report to the Ministry of Transport.

Foreign hi-tech firms expand investment in Vietnamese market

Molex, the world’s leading supplier of connectors and interconnect components, has unveiled its ambitions to expand its existing manufacturing plant in the Vietnamese market by developing its plant in Hanoi.

VIETNAM BUSINESS NEWS OCTOBER 4

Hai Phong lures more than 1.24 billion USD in first nine months

Vietnam rakes in US$16.05 billion from tourism in nine months

Vietnam earned some 394.2 trillion VND (16.05 billion USD) from tourism in the first nine months of this year, equivalent to 78% of the figure recorded in 2019 before the COVID-19 pandemic broke out.

VIETNAM NEWS HEADLINES OCTOBER 4

Vietnam invests in 10 energy technologies

Vietnamese poetry collection published in Canada

A poetry collection from five female translators based in Hanoi, entitled Ngũ Sắc Ánh Sáng (5 Sights of Light), has been introduced to Canadian readers by Ukiyoto Publishing.

Multi-billion thermal power project needs more capital

The Ministry of Industry and Trade (MOIT) has asked for ministries' opinions on solutions to problems related to the balance sheet of the Vung Ang 1 thermal-power plant.

The best September photos on VietNamNet

Hot air balloons with the Vietnamese national flag of 1,800m2 on the banks of the Saigon River, Typhoon Noru making landfall in Quang Nam Province, the roofs of many houses being blown away...

BSR to expand Dung Quat Oil Refinery

The Ministry of Industry and Trade (MOIT) has asked Binh Son Refining and Petrochemical JSC (BSR) to clarify some issues related to its project on expanding Dung Quat Oil Refinery.

Dutch conductor to lead concert at Opera House

Conductor Leon Bosch from the Netherlands will lead a concert featuring masterpieces by European composers at the HCM City Opera House on Saturday, October 8.

‘578’ to represent Vietnam at Oscars

An action film starring Miss Universe Vietnam 2018, H'hen Niê, 578: Phát Đạn Của Kẻ Điên (578: Magnum), has been selected as Vietnamese representative at the 95th Oscars, 2023.

USD surges to VND24,000, US$1.7 billion withdrawn from circulation

The State Bank of Vietnam (SBV) withdrew nearly VND41 trillion ($1.7 billion) through open market operations as the US dollar rose to over VND24,000 on September 26-30, 2022.

HCM City to build a series of new traffic projects

HCM City is speeding up procedures to start the construction of key traffic works at gateways by the end of the year, according to HCM City's Department of Transport.

Burning garbage in Hanoi threatens residents' health, property

There have been consecutive fires caused by people's poor awareness, who were burning garbage and straw in residential areas, causing fires recently in Hanoi.

New cargo airline still waiting for license

After the Prime Minister agrees on the establishment of IPP Air Cargo, the Ministry of Transport (MOT) will implement procedures to grant a license to the air carrier, according to MOT Deputy Minister Le Dinh Tho.
back_to_top