Connecting Vietnamese startups in US and Vietnam

A forum connecting Vietnamese startups in the United State and Vietnam themed “Lessons from Silicon Valley: Vietnam’s path to startup success”

Speaking at the event, Vice Chairman of the State Committee for Overseas Vietnamese (SCOV) Luong Thanh Nghi stressed that innovative start-up is a growing trend, and many Vietnamese-invested enterprises in the US have gained successes.

Vice Chairman of the State Committee for Overseas Vietnamese (SCOV) Luong Thanh Nghi

However, to reap more fruits, these enterprises need closer connectivity and coordination, Nghi suggested.

The SCOV wants to build a network of Vietnamese startups in the US and Vietnam, he said, adding that a similar forum will be held in Ho Chi Minh City in January 2018 to foster links among start-ups both in and outside Vietnam.

Secretary of the Ho Chi Minh City Party Committee Nguyen Thien Nhan said that the forum was a valuable chance for enterprises from the city and the US to exchange business cooperation and investment opportunities.

Ho Chi Minh City wants to learn from experiences of start-up enterprises in the US in order to have appropriate measures to speed up the start-up movement in the city, he said.

Nhan told participants that the municipal authorities have just announced a project to turn Ho Chi Minh City into a smart city.

Secretary of the Ho Chi Minh City Party Committee Nguyen Thien Nhan

Therefore, there are more investment opportunities in the city for foreign businesses, including those invested by Vietnamese people in the US.

Ho Chi Minh City currently has about 600,000 students studying in 80 universities and colleges. This is a young and well-trained human resource. The city also attracts high quality human resources from many localities throughout the country. There are currently about 760 startups nurseries.

Ho Chi Minh City also attracts large social investment up to USD 16 billion of which foreign direct investment (FDI) accounted for USD 5.8 billion; State-owned investment in science and technology reaches USD 60 million a year. The city is a focal point of new business models where international exchanges and exchanges are easily facilitated by facilities and transportation.

At the forum, representatives from successful Vietnamese startups in the US shared their experiences and lessons on investment, business strategies and how to select development orientations.

VNF