Total investment in Vietnam reached $741 million, compared to Singapore’s $693 million and Thailand’s $135 million, according to Singapore-based venture capital firm Cento Ventures.

Entrepreneurs discuss ideas at a startup convention in Ho Chi Minh City.

Indonesia topped the chart in six countries studied at $2.38 billion.

Vietnam’s value surged 2.5 times over 2018, with the number of deals nearly doubling from 50 to 90.

Most notable deals include payment app VNPAY raising $300 million from Japan-based Softbank Vision Fund and Singapore-based sovereign wealth fund GIC.

Another e-payment app Momo pulled in about $100 million from American private equity company Warburg Pincus.

The country’s share of investment value in the region also jumped from 4 percent in 2015 to 18 percent last year, compared to Indonesia’s 59 percent, Singapore’s 17 percent and Thailand’s 3 percent.

Vietnam’s value surged 2.5 times over 2018, with the number of deals nearly doubling from 50 to 90.

Cento Ventures data shows Vietnam has one company, gaming firm VNG Corporation, valued above $1 billion, and at least 13 startups over $100 million including e-commerce player Tiki, e-wallet Momo and ride-hailing Be.

The Vietnamese government in recent years has encouraged entrepreneurship and wants the private sector to drive economic growth.

The number of newly established businesses in the country hit a new record at 138,100 last year, up 5.2 percent year-on-year, according to General Statistics Office.

Startup with bakery shop

(BGO) – The student of Hanoi Academy of Military Science and Technology Nguyen Van Du (born in 1990) in Thanh pagoda residential group, Xuong Giang ward, Bac Giang city decided to drop out off the university to start up his business at his hometown. After overcoming the initial difficulties in 3 years, Du now firmly owns two economic models.

7 provinces attend Women’s creative startup festival in Bac Giang

(BGO) – The Women’s Union in Bac Giang province on October 1 coordinated with the Women’s Union in the provinces in the Northern midland and mountainous emulative cluster to hold the Women’s Creative Startup Festival and trade promotion conference in 2019.

Medlink wins first startup contest VietChallenge 2019

Medlink – the supplier of a platform for direct connectivity among drug companies and pharmacies has won the first prize of VietChallenge 2019, an annual startup competition for Vietnamese entrepreneurs from all over the world.

Vietnam Startup Day 2019 underway in HCM City

The Vietnam Startup Day 2019 is underway in Ho Chi Minh City from August 23 – 24, attracting nearly 200 projects and hundreds of domestic and foreign investors from the US, Canada, Australia, the UK, Singapore, the Republic of Korea, Thailand, Malaysia and Nepal.

Vietnam Startup Day to gather startups from 12 countries

The Vietnam Startup Day 2019 is scheduled to kick off in Ho Chi Minh City on August 23, gathering startup communities from around the world.

Source: VnExpress