From coding farm to VC destination: Vietnam's rapid rise
Add BT as a preferred source
Benjamin Cher
VIETNAM has long been associated as South-east Asia's coding farm, where talent and wages are in the sweet spot for companies to use it as a base for their technical development.
But there's something in the water that's attracting venture capital investment into the heart of the Mekong Delta.
Vietnam's startup ecosystem has experienced a hockey stick-shaped growth in funding, with funding soaring from US$44 million in 2015 to hit US$127 million in 2018. This growth continued through 2019 with Vietnam gaining US$1.4 billion or 18 per cent of the US$7.7 billion invested in South-east Asia.
TRENDING NOW
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
MSCI drops S-E Asian heavyweights Sembcorp, GoTo and Ayala Land from global benchmarks
