In 2023, Vietnamese startups received a total investment capital of US$529 million.

Singapore led in both number of deals and total investment capital for startups, followed by Indonesia.

That is notable information in the 2024 Technology and Innovation Investment Report released at the Việt Nam Innovation Forum 2024.

This forum was organised in HCM City on April 26 by the National Innovation Centre (NIC) and Do Ventures Investment Fund under the sponsorship of the Ministry of Planning and Investment.

This report also said that in 2023, Vietnamese startups' total investment capital of $529 million dropped by 17 per cent compared to the previous year.

Meanwhile, Việt Nam's number of deals involving startups slightly decreased by 9 per cent to 122 deals.

This decline shows that the technology investment landscape in Việt Nam continues to be affected by changes in the global economy.

However, this reduction rate was slighter than the decrease of 35 per cent to $345 billion in total global venture capital investment, showing that the Việt Nam market is still an attractive destination in the capital market.

In 2023, nearly 100 funds poured capital into Vietnamese startups, of which the most active investors came from Singapore, followed by Vietnamese investors.

Of which, the healthcare sector received the highest investment, skyrocketing 391 per cent over the previous year. The education sector also received a high amount of capital, up 107 per cent year on year.

Speaking at the forum, Deputy Minister of Planning and Investment Trần Duy Đông said that as a pioneer country in the field of innovation, Việt Nam commits to upgrading the national innovation ecosystem, attracting investment and talent.

With preferential policy mechanisms and simplified regulations, Việt Nam will accompany startups, corporations, organisations and experts to develop science and technology, promote innovation, contributing to the country's economic growth.

Việt Nam has moved up two places in the Global Innovation Index (GII) in 2023, ranking 46th out of 132 countries and territories, according to a GII report released by the World Intellectual Property Organisation (WIPO).

Việt Nam is one of seven middle-income countries having made the most progress in innovation over the past decade.

This positive results are owing to the continuous efforts of organisations, individuals and businesses in the work of innovation, Đông said. — VNS