The article cited the speech by Vietnamese Minister of Plan and Investment Nguyen Chi Dung at a Startup Investment Forum on December 2022 as saying that in recent years, more and more FDI flows have come to Vietnam’s startups.

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In the first nine months of 2022, Vietnam's innovative startups attracted about 500 million USD. Over the past two years, startups have attracted nearly 2 billion USD in foreign investment, which proved that “Vietnamese startups are increasingly attractive to international and regional investors.”

In 2021, Vietnamese startups raised 1.4 billion USD in investment capital, 56% higher than the level of 894 million USD in 2019.

The Vietnam National Innovation Centre estimates that the capital attraction capacity of Vietnamese startups will maintain an upward trend in 2023.

Thirty-nine investment funds have committed an investment of 1.5 billion USD to Vietnam in the period 2023-2025, bringing the total investment for Vietnamese startups to 5 billion USD during this period.

According to Vinnie Lauria, co-founder of Golden Gate Ventures, in the first 10 years of the Southeast Asian startup ecosystem, Singapore and Indonesia were the growth drivers that led the region.

In 2022, Vietnam became the third pillar of the "golden triangle of startups" that created a successful combination of Vietnam’s technology talent, startup culture and rapidly developing market in the country.

Luu Can Binh, an investment partner of Vertex Ventures SEA & India Fund, also gave a positive assessment of Vietnam's development prospects in the coming years, saying that Vietnam's startup ecosystem can strongly boom.

In addition, factors such as stable domestic politics, a young and highly educated workforce, developing infrastructure, digital skills, and innovation capacity, as well as the support of the Government of Vietnam create favourable conditions for Vietnamese startups.

The article also cited opinions by Dr. Le Hong Hiep - a Senior Fellow at the Vietnam Studies Programme and the Regional Strategic and Political Studies Programme of the ISEAS – Yusof Ishak based in Singapore, as saying that the Government of Vietnam has made efforts to support startups, but still needs to further improve its investment environment and legal framework to lower risks for startups, and encourage tech talents to establish companies.

Garment firms join major textile sourcing show in India

The Trade Office and Embassy of Vietnam opened the country’s pavilion at Intex South Asia, an international textile sourcing show held in New Delhi on December 8.

6 garment companies in Bac Giang named in the list of 281 reputable exporters in 2021

(BGO)- The Ministry of Industry and Trade of Vietnam has announced the list of 281 reputable exporters in 2021. 6 enterprises of Bac Giang province in garment sector were named in the list including Ha Phong Export Garment Joint Stock Company, Crystal Martin Vietnam Company Limited, Bac Giang LGG Garment Corporation, Minh Duc branch of Ha Bac Export Garment Company Limited, Ha Bac Export Garment Company Limited and Bac Giang BGG Garment Corporation.

Canada imports 50% more Vietnamese garments, seafood

Vietnamese garment and seafood exports to Canada have surged 50% year-on-year, totaling values of $1.1 billion and $334 million respectively.

Textile and garment exports aim to reach over 44 billion USD

In the second half of 2022, Vietnam’s textile and garment industry is facing many difficulties in terms of prices and order decline, seriously affecting operation maintenance and job security for workers. With the flexibility in deploying solutions to adapt to the market and boost production, businesses have gradually overcome difficulties and are determined to strive towards the goal of reaching an export revenue of more than 44 billion USD.

Weakening global demand hurts Vietnam's garment makers: industry official

Vietnam's garment industry is expected to face a decline in orders from its key markets over the next two quarters, the country's textile and apparel association said on Monday, amid high inflation that is dampening global demand.

Source: VNA