Vietnam to become a magnet for start-up investment in Southeast Asia

In News / July 28, 2022

Vietnam is becoming a magnet in Southeast Asia for attracting investment in start-ups, driven by a convergence of a young consumer and workforce base with increasing demands for digital technology in the post-pandemic period.

Investment into start-ups hit a record high of US$1.4 billion in 2021 despite the impact of COVID-19, breaking the previous record of $874 million in 2019. Additionally, Vietnam holds a potential business environment and well-suited demography for foreign investment and development. Hence, Vietnam, Singapore and Indonesia are becoming the golden triangle of start-ups in Southeast Asia.

In more good news for Vietnam’s start-up industry, on Monday, May 30, 2022, venture fund Golden Gate Ventures (GGV) and National Innovation Center (NIC) signed a cooperation agreement to strengthen the long-term relationship between the two sides and provide support to the development of the start-up community and innovation ecosystem in Việt Nam.

Read the full article here: https://vietnamnews.vn/economy/1207176/viet-nam-rises-as-magnet-for-start-up-investment.html