Vietnam becomes one of hottest startup hubs in the world: IBTimes
Vietnam is becoming one of the hottest startup hubs not only in Asia but also in the world, according to the International Business Times (IBTimes), a world leading provider of business and financial news.
Vietnam-based company Abivin wins the 2019 Startup World Cup. (Photo: VNA)
Hanoi (VNA) – Vietnam is becoming one of the hottest startup hubs notonly in Asia but also in the world, according to the International BusinessTimes (IBTimes), a world leading provider of business and financial news.
This is validated by local firms’ recent achievements in the sector, includingwinning a prestigious entrepreneur competition against the rest of the world,the newspaper said.
In the past years, Vietnam has moved from its rural and poverty-stricken pastto one of the most dynamic economies in Southeast Asia. In fact, it is one ofthe fastest growing economies in the continent. Pew Research’s study shows that94 percent of the respondents believe the next generation of Vietnamese willhave better financial stability than their parents.
The newspaper also affirmed Vietnam’s bright economic outlook, which isreflected through the growing number of locals and immigrants that venture intobusiness on its shores. The Southeast Asian country, with a population of 95million, is seeing a surge in the number of tech companies who are takingadvantage of its unique startup culture.
Citing Vietnam-based company Abivin which won the 2019 Startup World Cup as an excellentexample of Vietnamese startups, IBT said that the firm’s AI logistics platformbeat hundreds of other businesses around the world who pitched their ideas andvied for 1 million USD investment prize.
Abivin, which also won the regionalcompetition in Vietnam, bested 12 other finalists from Canada, USA, Japan,Australia, Finland and more. The regional competition was staged in 40countries before the finalists were chosen.
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Recommendations to promote innovation and the startup ecosystem in Vietnam, as well as measures to enhance cooperation between Vietnam and Germany in these fields were highlighted at a workshop held by the Vietnamese Embassy in Germany on May 15.
Agricultural start-ups should capitalise on the huge demand for safe agricultural products by developing long-term, sustainable production strategies, experts said at a seminar in Ho Chi Minh City on June 6.
The IoT Startup 2019 competition was launched at the Sai Gon Hi-Tech Park (SHTP) in Ho Chi Minh City on June 16, with competitors to be asked to deal with challenges facing many major technology firms.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
Vietnam-based company Abivin wins the 2019 Startup World Cup. (Photo: VNA) 
