Russian expert calls Vietnam magnet for foreign investors
(VOVWORLD) - Having the third most vibrant startup ecosystem in Southeast Asia, Vietnam has been a promising land for foreign investors, according to Sergey Sinitsyn from the Moscow State Institute of International Relations.
A report from the ESP Capital and Cento Ventures shows that investment for Vietnam’s share of startup investment value in the region jumped from 5% in 2018 to 17% last year.
In the past four years, the country’s innovation and startup ecosystem has developed from dawn to a level that is significant to the whole region, Sinitsyn was reported by Sputnik as saying.
Vietnam has become a hub for innovation projects in Asia-Pacific, he said, adding attractive sectors include finance, education, technology, artificial intelligence and blockchain technology.
Several standout investments are Singaporean Temasek’s participation in VNG Corporation’s project, Softbanks & GIC’s investment in VNPAY, and Warburg Pincus’s investment in MoMo. Particularly, VNG Corporation became Vietnam’s first ever unicorn tech start-up following investment of GIC, he said.