Hanoi (VNA) – The VietnamVenture Summit 2022 took place in Hanoi on December 19 under the theme “ShiftingGlobal Capital Flows”.
In his opening remarks, Minister ofPlanning and Investment Nguyen Chi Dung said global investment trends arechanging profoundly as a result of geopolitical uncertainties and a risk ofrecession in many big economies. The shift of capital flows has been takingplace strongly among regions and countries, in which there are fewer investmentopportunities for both startups and investors.
Minister of Planning and Investment Nguyen Chi Dung speaks at the event. (Photo: VNA)
Vinnie Lauria, founder and managing partnerof Golden Gate Ventures, said in the first decade of the startup ecosystem inSoutheast Asia, Singapore and Indonesia were the leading growth drivers, withSingapore holding financial and human resources and Indonesia a giant domesticmarket.
In 2022, Vietnam has become the thirdpillar of this triangle, bringing about a perfect combination of leadingtechnological talent, the entrepreneurial culture of Vietnam, and afast-growing domestic market, he noted.
He added Vietnam is currentlyassessed as the latest gemstone of Southeast Asia, and its emergence comes as aresult of its market’s attractiveness to investors and the Government’s supportfor the startup ecosystem.
Vietnamese startups raised a recordof 1.4 billion USD with 165 transactions in 2021, up 1.6 times from the 894million USD and 126 transactions in 2019. This indicated that transactions inthe market have regained momentum after a pandemic-triggered decline. The upwardtrend is forecast to continue in 2023, according to the National InnovationCentre (NIC).
Some factors turning Vietnam into abright spot of investment attraction include political stability, a young andeducated workforce, developed infrastructure, digital skills, and innovationcapacity. Besides, the country is considered a promised land for high-qualityFDI and large international enterprises that are seeking investmentopportunities to diversify supply chains and reduce the dependence on the Chinesemarket.
An overview of the summit. (Photo: VNA)
Vietnam has become a leadingcandidate for the shift of capital flows, the NIC said, adding that the countryis now at an important turning point of its economic development process. Its staturein the region, impacts of the COVID-19 pandemic, and the strong growth ofinvestment funds have created a favourable context for Vietnam to hold an outstandingposition.
At the summit, aside from paneldiscussions and seminars, a programme named Speed Matching was also held to connectstartups with over 30 domestic and foreign investment funds.
The Vietnam Venture Summit is anannual event chaired by the Ministry of Planning and Investment andco-organised by the NIC and Golden Gate Ventures. It aims to connect thestartup and innovation ecosystems in Southeast Asia with regional andinternational investment funds./.
With a total committed investment f up to 60 million USD, ThinkZone Fund II is the largest venture capital fund in tech startups founded by Vietnamese entrepreneurs and notable conglomerate owners.
Fintech and e-commerce accounted for 70 percent of total venture capital in the country last year, and this trend is predicted to continue in 2022, Dau tu (Vietnam Investment Review) reported.
With a large workforce, lower labour costs and sizeable market, Vietnam is one of the popular destinations for Singapore’s start-ups, according to The Straits Times newspaper.
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Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
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
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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.
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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.
Illustrative image. (Photo: baodautu.vn) 
Minister of Planning and Investment Nguyen Chi Dung speaks at the event. (Photo: VNA) 
An overview of the summit. (Photo: VNA) 
