Vietnam’s golden chance to produce more tech unicorns

Vietnam, one of the three pillars of the golden triangle of start-ups, has a lot of potential for growth and a lot of human resources, therefore it should take use of this chance to grow.

 

Investment in the technology industry in Vietnam fell somewhat in the first nine months of 2022, following the overall trend of the global venture capital market. According to the estimates, overall investment capital has declined by 17.9% to 494.208 million USD in 2021, from 602.25 million USD. At the same time, the number of investment transactions during this period is 94, a 13% decrease year on year.

 

Despite a fall in both quantity and investment money, the size of agreements has grown more enormous. According to statistics, Vietnam attracted approximately 500 million USD in technology investment in the first nine months of 2022; the number of completed agreements amounts for 19% of the entire Southeast Asia area.

 

According to international analysts, Vietnam, together with Singapore and Indonesia, is the backbone of Southeast Asia’s golden triangle of startups. Meanwhile, Vietnam has created 20 private creative start-up investment funds. When most enterprises are young, the development area for Vietnamese startups is still quite vast; human resources are plentiful and there are many talents; and market openness with access to technology is still very large.

“Venture investors regard Vietnam as the newest capital destination,” stated Ng Vinnie Lauria, Founder and CEO of Golden Gate Ventures. According to him, Vietnam provides the ideal combination of top IT talent, an innate startup culture, and a quickly rising local market.

Aside from trendy industries like financial technology (fintech), e-commerce, retail, and so on, Vietnamese entrepreneurs should be on the lookout for future trends in fields such as manufacturing, agricultural technology, robotics, and so on.

 

According to experts, the Vietnamese market has enormous potential in terms of e-commerce, healthcare, and so on. However, in order to capitalize on opportunities, the government must invest in core infrastructures; implement policies to attract venture capital; simplify procedures, processes, or the creation of investment funds; and collaborate with businesses and investment funds to increase technology content and participate more deeply in the global value chain.

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