HCM City ranks third in Southeast Asia for startup ecosystem value: report

A corner of HCM City. — VNA Photo

HCM CITY - HCM City ranks third in Southeast Asia in startup ecosystem value with an economic impact of US$5.22 billion, according to the 'Startup Genome Global Startup Ecosystem' report released recently at the Saigon Summit.

Meanwhile, the 2023 Southeast Asia Digital Economy Report, jointly conducted by Google, Temasek, and Bain & Co, predicted that Việt Nam's digital economy will continue to grow at a rapid pace, with an estimated value of $45 billion by 2025.

Việt Nam's large consumer base of approximately 100 million people offers significant opportunities for startups and businesses looking to expand their operations, it said.

In addition, a report from Việt Nam's National Innovation Centre (NIC) and Golden Gate Ventures identified five key sectors expected to drive Việt Nam's future economic growth. They are healthcare technology, financial technology (fintech), logistics tech, green economy, and educational technology.

Themed “Charting Việt Nam’s Tech Future”, the Saigon Summit highlighted Việt Nam's growing prominence in the tech industry, which is rapidly advancing to compete with other major players in the region.

It attracted over 700 startup and innovation leaders from across Southeast Asia, alongside representatives of 50 companies and 20 prominent speakers. Keynote addresses were delivered by notable figures such as VNG founder and CEO Lê Hồng Minh, VNLife CEO Niraan de Silva, and Razer CEO and co-founder Min-Liang Tan.

The event provided valuable networking opportunities for participants to connect with innovators and entrepreneurs, explore emerging sectors, and build partnerships.

The summit's "Investor Hour" featured tailored meetings based on industry sectors and stages of business development, encouraging in-depth discussions between founders and investors.