TechFest Vietnam 2016 helps boost startup movement

A two-day startup festival (TechFest Vietnam 2016) that concluded in Hanoi on November 13 attracted nearly 170 investors and more than 3,000 visitors, according to the organisers.
  • Specific activities need to support startups: Deputy PM
  • Ho Chi Minh City to unveil $45 million fund for startups
  • Vietnamese students in UK equipped with start-up skills

Speaking at the closing ceremony, Deputy Minister of Science and Technology Tran Van Tung said that the event helped to develop a startup ecosystem in Vietnam. 

Participants discussed issues hindering the growth of the startup community following the suggestions of Deputy Prime Minister Vu Duc Dam, he said. 

Various seminars and conferences were held, while international programmes and projects sponsoring startups and investment funds in Vietnam were also honoured. An exhibition was held to showcase new products of more than 100 startups. 

Nineteen outstanding startups who won a contest at the event will be offered a visit to Silicon Valley in the US. 

Minister of Science and Technology Chu Ngoc Anh said that TechFest Vietnam 216 showed the development of the knowledge-based economy. 

He called for support from the Government, ministries, sectors, localities and investors to startups, which he said would contribute to sustainable economic development. 

The introduction of a Steering Committee for a project to support the startup ecosystem during the event was an important milestone for the expansion of the startup community, he said. 

Through the event, the ministry also affirmed its determination to coordinate with other ministries, sectors and localities to synchronise legal frameworks and create favourable conditions for startups, investors and startup support organisations. 

According to the Ministry of Science and Technology, Vietnam is the world’s third most attractive country for venture capital funds. 

Currently, the country has 1,800 startups, 21 incubating facilities and seven business accelerators. 

This year was considered a good year for startups, as many Vietnamese startups have received big investments. 

Lozi, a social network for trading of clothing and electronics, is among successful startups. It currently has 400,000 users with revenue of about 50,000 USD per month. 

The US venture capital seed fund 500 Startups decided to form a 10 million USD fund to invest in 100-150 startup projects in Vietnam. The sum will be increased to 100 million USD over the next five years. 

More than 20 foreign venture capital funds are also operating in Vietnam, including IDG Venture, Cyber Agent Venture and Vina Capital.

VNA

Other News

A view of a container port in Singapore. (File photo: Xinhua/VNA)

Vietnam-Singapore trade cooperation gains fresh momentum

Analysts noted that Vietnam-Singapore ties are increasingly moving beyond traditional goods trade towards green growth, innovation and high-quality supply chains, laying a stronger foundation for more substantive and sustainable cooperation in the years ahead.

Vietnamese products make strong impression at Foodservice Australia 2026

Vietnamese products make strong impression at Foodservice Australia 2026

International visitors expressed positive impressions of Vietnamese products displayed at the fair. Nelma Sanjines, senior supervisor at ESP Catering in Sydney, praised the flavour of Vietnamese chilli sauce and soy sauce as well as the attractive packaging of confectionery products.

Digital technology helps standardise supply chains, sustain export competitiveness

Digital technology helps standardise supply chains, sustain export competitiveness

Experts noted that supply chain optimisation and risk management are no longer isolated tasks for individual companies but a requirement for the entire export ecosystem. With guidance from regulators, support from industry experts and their own efforts, Vietnamese exporters are expected to enhance their competitiveness and turn technical barriers and market volatility into opportunities for sustainable growth in global markets.

Vietnam seen as attractive investment destination for 2026–2035

Vietnam seen as attractive investment destination for 2026–2035

The article described Vietnam as strategically positioned along major regional maritime routes, including the East – West corridor linking the Americas, the Middle East, India and Europe, and the North – South corridor connecting China and Southeast Asia, helping make the country a gateway for international trade.

Eco-industrial parks seen as catalyst for higher-quality FDI

Eco-industrial parks seen as catalyst for higher-quality FDI

The eco-industrial park model will help Vietnam meet international environmental standards while creating opportunities to improve growth quality and economic competitiveness. Many multinational corporations now view green standards, emissions reduction and energy efficiency as key conditions when selecting investment destinations.

Promoting Vietnamese Brands at an International Food Fair in Gwangju

Promoting Vietnamese Brands at an International Food Fair in Gwangju

Alongside exhibition activities, trade promotion, and business networking programs, the “Gwangju Global Food Fair 2026” also witnessed the signing ceremony of a Memorandum of Understanding (MOU) between the Vietnam–Korea Businessmen & Investment Association (VKBIA) and the Gwangju Tourism Organization of South Korea.

Hanoi proposes subsidies to accelerate shift to electric vehicles

Hanoi proposes subsidies to accelerate shift to electric vehicles

Under a draft resolution currently open for public feedback by the municipal People’s Committee, residents with permanent or temporary residence registration in Hanoi for at least two consecutive years, who own petrol-powered motorbikes registered before the resolution takes effect, will be eligible for support when purchasing electric motorbikes priced at 10 million VND or more.

Private economic sector poised for breakthrough growth

Private economic sector poised for breakthrough growth

More than a year after the Politburo's Resolution No. 68-NQ/TW on private sector development came into effect, expectations now extend beyond increasing the number of enterprises. The goal is to build a stronger business community with greater resilience, larger ambitions and the capacity to compete in global supply chains.

Vietnam remains ASEAN growth leader in 2026 despite global headwinds: WB

Vietnam remains ASEAN growth leader in 2026 despite global headwinds: WB

Vietnam is expected to remain one of ASEAN’s fastest-growing economies in 2026, supported by resilient exports, strong investment inflows and an ambitious reform agenda, despite mounting global uncertainties, according to the World Bank’s latest Vietnam Economic Update released on May 15.

Ministry establishes monitoring framework for carbon market

Ministry establishes monitoring framework for carbon market

Under a new circular, the exchange of greenhouse gas emission quotas and carbon credits is conducted on the domestic carbon credit exchange through the carbon trading system, which is interconnected with the national registration system.