New and innovative investment trends in Vietnam

April 26, in City. Ho Chi Minh City, under the sponsorship of the Ministry of Planning and Investment, the National Innovation Center (NIC) and Do Ventures Investment Fund organized the Vietnam Innovation Forum 2024 and announced the Report. Investing in Technology and Innovation 2024.

Delegates at the Forum (Photo: MPI)

Thereby, the Organizing Committee wishes to promote innovation activities in Vietnam, and at the same time discuss the latest investment trends in the field of innovation in Vietnam.

The forum, titled “Transforming into a High-Tech Nation”, chaired by Deputy Minister of Planning and Investment Tran Duy Dong, attracted the participation of units under the Ministry of Planning and Investment and the Ministry of Science. & Technology, leaders of Departments of Planning and Investment of cities such as Ho Chi Minh, Da Nang, and some southern provinces. In addition, there is also the presence of entities in the innovation ecosystem such as universities, financial institutions, venture capital funds, incubator organizations that support startups, and startups. corporations, SME businesses, startups and leading experts in the field of innovation and finance domestically and internationally such as Granite Asia, AC Ventures, Validus, Metub Network, VinBigData, Masan etc

Innovation towards Vietnam’s prosperous future

The forum attracted a large number of domestic and international delegates (Photo: MPI)

Speaking at the opening of the event, Deputy Minister Tran Duy Dong emphasized: According to the 2023 Global Innovation Index Report, Vietnam increased two places to position 46/132 countries and economies. Vietnam is also ranked as one of the 7 middle-income countries that have made the most progress in innovation over the past decade. This positive result is achieved, first of all, thanks to the continuous efforts of organizations, individuals and businesses in the work of innovation; At the same time, thanks in part to the cooperation and companionship of all of us here, the factors in the Vietnamese innovation ecosystem.

Deputy Minister Tran Duy Dong said that Vietnam possesses great potential to improve innovation capacity and compete in the global high-tech market. Two areas that show a lot of promise are the semiconductor industry and AI. These are strategic areas and new development drivers for Vietnam to participate more deeply in the global value chain.

On this occasion, the Deputy Minister committed to upgrading the national innovation ecosystem, attracting investment and nurturing talent. Through preferential policy mechanisms, streamlining and simplifying regulations and promoting cooperation, we will accompany startups, corporations, related organizations and experts to develop. science and technology, promoting innovation, thereby contributing to the country’s economic growth; continue to work closely with international partners to leverage their expertise, knowledge and experience to build an innovation community, enhance competitiveness, create high-quality jobs and improve people’s living standards, shaping a prosperous future for Vietnam.

Report cover (Screenshot)

Announcement of Vietnam Technology and Innovation Investment Report 2024

At the Forum, Mr. Vu Quoc Huy, Director of NIC and Ms. Le Hoang Uyen Vy, CEO of Do Ventures, announced the Vietnam Technology and Innovation Investment Report 2024. The Report’s objectives bring provides an overview of the venture capital landscape in Vietnam in 2023 and demonstrates the Government’s commitments to promoting innovation.

The report notes that in 2023, Vietnamese startups will receive a total investment capital of 529 million USD, down 17% compared to the previous year. This decline shows that the technology investment landscape in Vietnam continues to be affected by the volatile economic situation globally.

Compared to the 35% decrease in total venture capital investment globally, the slight decrease of 17% shows that the Vietnamese market is still resilient in the face of many challenges in the capital market.

In the Southeast Asia region, Vietnam maintained third place in number of investment deals and regained third place in total investment value. Singapore leads in both number of deals and total investment value, followed by Indonesia.

The Healthcare sector received a record high amount of capital, skyrocketing 391% over the same period last year, becoming the most invested sector. The Education sector also received the highest amount of capital ever, up 107% over the same period last year.

The report provides an overview of the venture capital landscape in Vietnam in 2023 and demonstrates the Government’s commitments to promoting innovation (File photo)

In 2023, nearly 100 funds poured capital into Vietnamese startups, of which the most active investors came from Singapore, followed by Vietnamese investors.

2024 is the 4th consecutive year of publishing the Vietnam Technology and Innovation Investment Report with the goal of elevating Vietnam’s innovation ecosystem, demonstrating the close coordination between Do Ventures and NIC.

At the Forum, the Commitment Ceremony to promote Vietnam to become a high-tech country officially took place with the participation of entities in the innovation ecosystem including: Deputy Minister of Planning and Investment Tran Duy Dong, Mr. Nguyen Duc Hoang – Deputy Director of the Department of Technology Development and Innovation, Ministry of Science and Technology, Mr. Nguyen Thanh Hung – Founding Chairman of SOVICO Group, Mr. Nguyen Anh Thi – Head of the Regional Department High-tech City. Ho Chi Minh City, Ms. Le Hoang Uyen Vy – CEO of Do Ventures, and Mr. Howard Silby – General Director of NAB Vietnam Innovation Center. The commitment ceremony shows the close connection between subjects in the innovation ecosystem as well as the companionship and readiness to create favorable conditions for Vietnam to become a regional and creative innovation center. Potential investment destination for high-tech industries.

Speakers discussed at the Forum (Photo: MPI)

Within the framework of the Forum, the discussion sessions “Latest trends in startup capital raising activities”, “Opportunities for Vietnam to improve innovation capacity, join the global technology race”, and “Exploring potential, promoting innovation in the consumer sector in Vietnam” took place enthusiastically and brought valuable information to the innovation and technology investment community. Speakers who are leading experts in the fields of technology and finance shared frankly about the current state of technology investment and innovation in Vietnam, pointing out opportunities and challenges, recognizing Identify and evaluate new trends, suggest policy mechanisms for innovation. The forum is a space to connect and open up multi-dimensional and objective perspectives on current innovation trends./.