Vietnam has emerged as a regional startup hub in Southeast Asia with investments worth US$815 million at the recent Vietnam Ventures Summit.
Key sectors in the startup space include fintech, e-commerce, and enterprise solutions. Vietnam’s digital economy offers numerous opportunities for disruption at scale.
Foreign investors have played a key role in fuelling the growth of Vietnam’s startup ecosystem and recent regulations have attempted to streamline investment regulations surrounding foreign investors such as VCs.
Vietnam’s emergence as a startup hub received a boost at the recent Vietnam Ventures Summit 2020, where investors signaled their intent to invest US$815 million in startups. The agreement covers 33 foreign and domestic investment funds including CyberAgent Capital, 500 Startups, AlphaJWC, Monk’s Hill Ventures, and Access Ventures. Last year, investment commitments totaled US$415 million. The US$400 million increase in investments in 2020 reflects a belief that Vietnam could rival Indonesia as Southeast Asia’s growth market for tech investments.
Read the full article on VietLaunch.