Experts highlighted a young population, the Government's support, and a thriving startup ecosystem are driving the country’s innovation.
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Vietnam is leading in applying technology to business operations. (Photo: Internet) |
Key trends include digital transformation, a growing startup ecosystem, green technology, Industry 4.0, and fintech. However, challenges remain in regulatory frameworks, workforce skills, infrastructure, and global partnerships.
Vietnam is leading in applying technology to business operations but facing challenges in terms of institutions and legal regulations, labor skills, infrastructure development, and global cooperation, Anirban Roy from Innovation Lab (InnoLab Asia) noted, stressing the need for strategic global partnership to mitigate risks.
Meanwhile, Japanese billionaire Ryoichi Kakui, CEO of e-LogiT, emphasized cross-border collaboration as essential for Vietnam’s global market expansion.
Malaysia’s Loo Chuan Boon, CEO of Selangor Information Technology & Digital Economy Corporation (SIDEC), highlighted AI’s role in business success and the importance of international cooperation.
Vietnam, and Ho Chi Minh City in particular, is seen as the gateway to the Southeast Asian market with many advantages like diverse culture, geopolitical stability, and startup-friendly policies, making it a prime destination for investors.
According to Vice Chairman of the HCM City People's Committee Vo Van Hoan, Vietnam is attracting global venture capital thanks to its dynamic economy and innovative workforce.
The southern metropolis is expanding global ties, attracting resources, and fostering partnerships to boost startup competitiveness. A key focus is building a supportive legal framework for innovation and entrepreneurship.
The city leads the country’s startup scene, hosting over 50% of startups, 40% of incubators, and 60% of venture capital funds.
Strengthening international ties will help local startups expand globally and attract investment from the U.K., Germany, the Republic of Korea, Indonesia, and Malaysia.
Source: VNA