33 funds committed to investing in innovation start-ups in Vietnam

Representatives of 33 local and international investment funds attended the Vietnam Venture Summit 2020 (VVS) with the theme "Going Digital" organized by the Ministry of Planning and Investment on November 25.

Speaking at the Summit, Deputy Prime Minister Vu Duc Dam said that this year, the number of investors and investment funds doubled; hence, there is a twofold increase in the amount of capital they commit to investing in innovation startups. This proves that the government has got certain success in attracting capital.

He noticed that some enterprises rose to dominate the domestic market and display their products in foreign countries since they have solved some problems practically.

Deputy PM Dam added that once Vietnamese startups can develop their new business methods based on the local market to satisfy Vietnamese consumers’ demand, they will have big opportunities to grow more in the future.

Withdrawing experience from the fight against the COVID-19 pandemic in the past time, Mr. Dam said that community plays a pivotal role nowadays when the world changes unpredictably.

He affirmed that enterprises should take heed of the community role in creating foundation and startup ecosystem and huge data system in which startup businesses can find out their own opportunity./.