Nearly 900 million USD injected in Vietnamese startups in 2018
Vietnamese startups were invested in to the tune of 900 million USD in 2018, tripling the previous year’s investment, according to a report recently released by Topica Founder Institute (TFI), a startup accelerator programme in Vietnam and Thailand.
The five most profitable fields for startups are financial tech (Fintech), electronic commerce (E-commerce), technology services related to tourism (TravelTech), logistics and education tech (Edtech) (Illustrative image. Source: VNA)
Hanoi (VNA) – Vietnamese startups wereinvested in to the tune of 900 million USD in 2018, tripling the previousyear’s investment, according to a report recently released by Topica FounderInstitute (TFI), a startup accelerator programme in Vietnam and Thailand.
VNG Corporation became Vietnam’s first everunicorn tech startup and was valued atone billion USD by the World StartupReport in 2014, a figure expected to rise in 2018.
Meanwhile, Yeah1 became the first media companyin Vietnam to be listed in the stock market with valuation of 500 million USD.
Its ambition is to become the first unicornstartup in the communications industry in Southeast Asia in the next threeyears.
Director of TFI Mai Duy Quang described 2018 asa successful year for Vietnamese startups.
The five most profitable fields for startupswere financial tech (Fintech), electronic commerce (E-commerce), technologyservices related to tourism (TravelTech), logistics and education tech (Edtech),he said.
Fintech topped the list with eight deals worth117 million USD, followed by E-commerce with five deals worth 104 million USDand TravelTech with eight deals worth 64 million USD.
Logistics and Edtech respectively attracted threeand four deals worth a combined 50 million USD.
Domestic funds, including Vingroup Ventures,Viet Capital Ventures and Viet Partners, also made big investment in startups,Quang said.
In early 2019, TFI and Singapore-based InsigniaVenture Partners signed an investment cooperation agreement, under whichInsignia will invest at least 50,000 USD in each graduated startup from TFI.
This is the first collaboration of its kind inVietnam, according to TFI.
“Vietnam is an energetic and potential startupmarket. If proper investment is available, great Vietnamese startups canemerge. Insignia Ventures Partners is showing great interest and desire tocontribute for this development,” said Yinglan Tan, founder of InsigniaVentures Partners.-VNA
Singapore-based venture capital firm Cocoon Capital has launched a new 20 million USD fund targeting seed-stage startups in emerging economies such as Vietnam, Myanmar, the Philippines and Indonesia.
The logistics sector has been the bottleneck for Vietnam’s economic development, but offers plentiful opportunities for local startup companies with the application of technologies.
Google is researching the procedures for opening a representative office in Vietnam to ensure that its compliance with local regulations is in line with its international commitments, Senior Vice President Ken Walker has said.
Vietnam is among the most dynamic startup hubs in the world and well-educated, young entrepreneurs are expected to improve the country’s position on the global startup map.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
The five most profitable fields for startups are financial tech (Fintech), electronic commerce (E-commerce), technology services related to tourism (TravelTech), logistics and education tech (Edtech) (Illustrative image. Source: VNA)
