Vietnam’s golden opportunity to have more tech unicorns
Vietnam is one of the three pillars of the golden triangle of start-ups, has great room for development and possesses abundant human resources, which should take advantage of this opportunity to develop.
In 9 months of 2022, investment in the technology sector in Vietnam also decreased slightly compared to 2021, in line with the general trend of the global venture capital market. The figures show that the total investment capital has decreased by 17.9% with a total value of 494.208 million USD compared to 602.25 million USD in 2021. At the same time, the number of investment deals during this period is 94, down 13% year-on-year.
Despite the decline in both quantity and investment capital, the scale of deals has become larger and larger. Statistics show that, in the first 9 months of 2022, Vietnam has attracted nearly 500 million USD of investment in technology fields; The number of successful deals accounts for 19% of the whole Southeast Asia region.
Vietnam is currently the pillar of the golden triangle of startups in Southeast Asia along with Singapore and Indonesia. (Illustration image: Internet)
According to international experts, Vietnam is the pillar of the golden triangle of startups in Southeast Asia along with Singapore and Indonesia. Meanwhile, Vietnam also has 20 private innovative start-up investment funds established. The development space of Vietnamese startups is still very large when most of the businesses are very new; human resources are abundant and there are many talents, the market openness with access to technology is still very large.
“Venture investors are seeing Vietnam as the newest destination for capital,” said Ng Vinnie Lauria, Founder and CEO of Golden Gate Ventures. Vietnam offers the perfect combination of top tech talent, inherent startup culture, and a rapidly growing domestic market, he explained.
Besides very hot fields such as financial technology (fintech), e-commerce, retail,… Vietnamese startups should observe and look for some areas that will be trends in the future to focus on development such as manufacturing, agricultural technology, robotics…
Experts say that the Vietnamese market has great potential in terms of e-commerce, healthcare… But to be able to take advantage of opportunities, the government needs to invest in core infrastructures; have policies to attract venture capital; simplify procedures, processes or building investment funds; cooperate between businesses and investment funds to increase the technology content and participate more deeply in the global value chain.
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