Viet Nam attracts US$5 bln investment in creative startups in 2023-2025
VGP - As many as 39 investment funds have committed to invest US$1.5 billion in creative startups in Viet Nam in the 2023-2025 period, raising the total investment for the field in the period to US$5 billion.
The information was announced at the Viet Nam Venture Summit 2022 which took place in Ha Noi on December 19.
According to the National Innovation Center, Vietnamese startups raised a record US$1.4 billion across 165 deals in 2021, up 1.6-fold against 2019, with US$894 million from 126 deals, indicating that deal making in the market has regained momentum following a fall due to COVID-19.
The momentum will continue into 2023, when GDP growth of 6.7 percent is anticipated.
In the previous forums, investment funds committed to invest in Vietnamese creative startups with increasing committed capital, from US$425 million in 2019 to US$815 million in 2020.
In the last two years, the investment capital in innovative start-ups reached nearly US$2 billion, showing that innovative startup activities in VietNam are becoming more attractive to international and regional investors.
The country attracted nearly US$500 million in the technological field in the first nine months of 2022.
Some factors turning Viet Nam into a bright spot of investment attraction include political stability, a young and educated workforce, developed infrastructure, digital skills, and innovation capacity.
Besides, the country is considered a promised land for high-quality FDI and large international enterprises that are seeking investment opportunities to diversify supply chains and reduce the dependence on the Chinese market.
