The Vietnam Venture Summit 2020, the second event of its kind, got underway in Hanoi on November 25, providing a dialogue platform between the Vietnamese Government and major international venture funds.

Deputy Prime Minister Vu Duc Dam delivers a speech at the event. (Photo: VNA)

Themed "Going Digital", the summit attracted the participation of 1,000 delegates, including leaders of various ministries, universities, and research institutes across the country, along with approximately 50 foreign speakers.

Addressing the event, Deputy Prime Minister Vu Duc Dam noted that Vietnam has made progress in its journey to transform itself into a digital economy. The collective contributions made by the entire business community will serve to create synchronisation, whilst digitisation will give added motivation to bolster business development.

Dam expressed his belief that the implementation of a digital transformation programme for agencies, businesses, and communities will bring about an array of positive benefits for the local economy, thereby helping the country develop faster and in a more sustainable manner.

During the event, Minister of Planning and Investment Nguyen Chi Dung stated that the Vietnam Venture Summit is of great significance in motivating businesses develop and innovate, as well as in finding solutions and opportunities for the Vietnamese innovation ecosystem to better integrate into the global market. 

The summit also helped to link investors with startups and innovators who have devised unique ideas. Through the occasion, with the support of various ministries, departments, sectors, domestic, and foreign experts, innovative enterprises will find new directions and reach success moving forward.

 “It is the time now for Vietnam to focus on promoting its innovative capacity,” said Dung, adding that sci-tech, and innovation will represent a pillar for the nation to boost its rapid and sustainable socio-economic development.

An overview of Vietnam Venture Summit 2020. (Photo: VNA)

As part of the summit’s framework, there were numerous activities to connect innovative businesses, such as Startup-Pitching and Business-Matching. This saw potential startups connected with more than 100 investment funds as they attend the programme and introduce their ideas at the event.

Vietnam Venture Summit 2020 also created the chance for startups that possess outstanding ideas and have been selected through a series of competitions to participate in direct exchanges with giant investment funds throughout the region and the globe.

The summit is an annual event organised by the National Innovation Center (NIC) in collaboration with Golden Gate Ventures and the participation of the Asian Development Bank (ADB). It was also attended by representatives from the US Agency for International Development, Grab Vietnam, Qualcomm Corporation, McKinsey Vietnam, Do Venture, ThinkZone, and Publicis Groupe.