Investment for creative startups to reach 5 billion USD in 2023 – 2025: Confab
As many as 39 investment funds committed to invest 1.5 billion USD for creative startups in Vietnam in 2023 – 2025, lifting the total investment for the field in the period to 5 billion USD, heard the Vietnam Venture Summit 2022 on December 19 in Hanoi.
Hanoi (VNA) – As many as 39 investment funds committed to invest 1.5 billion USD for creative startups in Vietnam in 2023 – 2025, lifting the total investment for the field in the period to 5 billion USD, heard the Vietnam Venture Summit 2022 on December 19 in Hanoi.
According to Minister of Planning and Investment Nguyen Chi Dung, investment funds and innovative businesses will be important partners of the Government, ministries and sectors to support and contribute ideas for making investment startup-related policies, contributing to making Vietnam’s business environment more attractive in the region and the world at large.
Minister of Planning and Investment Nguyen Chi Dung speaks at the event (Photo: VNA)
The ministry will be responsible for studying and reporting on the possibility of developing a law on venture investment, and proposing a mechanism to establish a support fund to effectively support potential innovative start-up projects, he said.
The official suggested investment funds, enterprises, and startups accompany the ministry in the work, aiming to sketch out effective support mechanisms and mobilise resources for innovation activities in the country.
Since 2019, the annual summit has served as a venue connecting international investment funds and Vietnam’s creative startup community.
In the previous forums, investment funds committed to invest in Vietnamese creative startups with increasing committed capital, from 425 million USD in 2019 to 815 million USD in 2020.
In the last two years, the investment capital in innovative start-ups reached nearly 2 billion USD, showing that innovative startup activities in Vietnam are becoming more attractive to international and regional investors.
According to Minister Dung, Vietnam attracted nearly 500 million USD in the technological field in the first nine months of 2022.
Vietnam has so far had 20 private innovative start-up investment funds established under Decree No. 38/2019/ND-CP in 2019 of the Government, with a total charter capital of more than 100 billion VND (over 4.2 million USD).
Support mechanisms and policies of the Government, ministries, sectors and localities have created the necessary premise for the strong development of innovation ecosystems in the country, Dung said.
He, however, noted that it is necessary to soon form a substantive and effective innovative start-up investment environment, thus luring more investment from local and foreign investors./.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
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This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Participants at the summit (Photo: VNA) 
Minister of Planning and Investment Nguyen Chi Dung speaks at the event (Photo: VNA) 
