Nguyen Ba Diep, Vice Chairman of MoMo, a leading mobile payment company, said next year would see “many changes in the digital services market, especially in fintech, with many new models emerging.”
Vietnam’s fintech market was still young, and the market would gradually develop when there are many start-ups, he said.
Technology had brought big changes to many sectors including education and training and finance, he added.
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Photo for illustration. Source: dantri.com.vn |
“Start-ups must always innovate to stay afloat in the market because your successful models today can be imitated by other start-ups, so you need to be innovative and creative to come up with new models.”
Quyen said start-ups usually developed products and services for customers in big cities like Hanoi and HCM City. This should change and they should focus more on exploiting markets in provinces and rural areas.
Delegates also emphasized the need for start-ups to collaborate with large firms during the development process.
The two should work together to leverage their strengths and develop together, they said.
Hoang Quoc Quyen, CEO of Vinfast Service, said start-ups often hesitated to reach out to large companies and wanted them to be “more active in contacting leaders of ‘elephants’.”
Organized by the Business Start-up Support Center (BSSC) in collaboration with the Young Businesspeople Association of HCM City, the forum, themed “Start-up 2019: What’s Next?,” attracted over 500 delegates, including company chiefs and university students.
The forum aimed to create opportunities for young leaders to learn from successful Vietnamese start-ups. This would inspire entrepreneurship and a positive mindset in the younger generations.
Source: VNA