Ho Chi Minh City Ranks Third In Southeast Asia For Startup Ecosystem Value

Ho Chi Minh City ranks third in Southeast Asia regarding startup ecosystem value, with an economic impact of 5.22 billion USD, according to the Startup Genome Global Startup Ecosystem Report, released at the Saigon Summit recently held in the city.

Charlotte Pho

November 17, 2024 | 08:06

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Meanwhile, the 2023 Southeast Asia Digital Economy Report, jointly conducted by Google, Temasek, and Bain & Co, predicted that Vietnam’s digital economy will continue to grow at a rapid pace, with an estimated value of 45 billion USD by 2025.

Vietnam's large consumer base of approximately 100 million people offers significant opportunities for startups and businesses looking to expand their operations, it said.

Ho Chi Minh City Ranks Third In Southeast Asia For Startup Ecosystem Value

A corner of HCM City (Photo: baochinhphu.vn)

In addition, a report from Vietnam's National Innovation Centre (NIC) and Golden Gate Ventures identified five key sectors expected to drive Vietnam's future economic growth - healthcare technology, financial technology (fintech), logistics tech, green economy, and educational technology.

Themed “Charting Vietnam’s Tech Future”, the Saigon Summit highlighted Vietnam’s growing prominence in the tech industry, rapidly advancing to compete with other major players in the region.

It attracted over 700 startup and innovation leaders from Southeast Asia, alongside representatives of 50 companies and 20 prominent speakers. Keynote addresses were delivered by notable figures such as Le Hong Minh, founder and CEO of VNG; Niraan de Silva, CEO of VNLife; and Min-Liang Tan, CEO and co-founder of Razer.

The event provided valuable networking opportunities for participants to connect with innovators and entrepreneurs, explore emerging sectors, and build partnerships. The summit's "Investor Hour" also featured tailored meetings based on industry sectors and stages of business development, encouraging in-depth discussions between founders and investors.