Vietnam Innovation Summit 2024 helps enhance quality of startup ecosystem

In his opening speech, Vo Van Hoan, vice chairman of the Ho Chi Minh City People's Committee, emphasised that the southern city has built the most dynamic innovative startup ecosystem in Vietnam.

Currently, more than 50% of startups, 40% of startup incubators and support facilities, as well as 60% of venture capital funds are operating in the southern city.

Thanks to the dynamism and creativity of the national economy coupled with its young workforce, Ho Chi Minh City in particular and Vietnam in general have emerged as potential destinations for international investors, he noted.

Realising the importance of innovation to promoting sustainable economic development whilst enhancing the country’s status, Hoan revealed that the city will focus on promoting innovation and startup activities towards creating a favourable legal environment and devising specific support policies specifically startups and investors.

He expressed his hope that these activities will serve to further contribute to improving the efficiency and quality of the city’s innovative startup ecosystem, as well as simultaneously elevating it to be on par with other countries in the region and around the world.

At the event, experts underscored the importance of international cooperation in promoting the development of the innovative startup ecosystem aimed at enhancing their competitiveness and reaching out to the international market.