Vietnam ranks 63/113 countries in terms of digital startup system

Vietnam ranks 63/113 countries in terms of digital startup system
Vietnam ranks 63/113 countries in terms of digital startup system

According to the Global Index of Digital Startup Systems released today (September 22), Singapore has the best digital environment and startup support system in the world; America ranked second; Sweden ranked third; Vietnam ranks 63/113 countries in the global ranking in this field.

This is part of the Asian Development Outlook (ADO) 2022 Update. In Asia, Indonesia ranks 71st, India ranks 75th, and the Philippines ranks 79th.

As can be seen, 17 out of 21 developing economies in Asia are at the bottom of the global rankings for the digital environment and start-up support systems – which underlines the need of many countries. Among them is the need to encourage digital entrepreneurship.

Digitization presents huge growth opportunities for businesses in Asia and the Pacific. It is the innovation engine that is key to economies striving for high incomes. Although Asia’s environment for digital startups has made significant strides over the past few years, there is still a lot of room for improvement.

The Global Index of Digital Startup Systems measures the quality of the environment for digital startups by looking at the degree of digitization across eight dimensions: culture, institutions, conditions markets, infrastructure, human capital, knowledge, finance and networks.

Albert Park, ADB Chief Economist, commented: “Digital startups have helped economies survive the COVID-19 pandemic and can become a key driver of growth and innovation in the region. In order to do that, it is necessary to create a supportive environment through enabling policies and incentives. Asia has made significant progress in the past few years, there is still a lot of room for improvement.”

PREV Import of CBU cars to Vietnam increased sharply, exceeding 96,000 vehicles | Auto and Moto
NEXT Weather on September 24: From Thanh Hoa to Quang Binh, there are places with heavy rain