At Saigon Hi-tech Park (Source: VNA) Ho Chi Minh City (VNA) – A Japanese newspaper has heralded Ho Chi Minh City as a “SiliconValley of Asia” thanks to its upgraded infrastructure and growing financialareas.
Nikkei Asian Reviewpublished the article on October 24.
The city built an incubator for startups inSaigon Hi-tech Park, in which giants like Intel and Samsung are based. It is alsoknown as a cradle of startups with more than 800 operating ones.
Over the past two years, the city has spent 90million USD on start-ups and innovation programmes, formed partnerships withmore than 20 foreign partners and has a total of 24 incubators and 12 startupspaces, leading to the launch of more than 760 start-ups.
Ho Chi Minh City is also working to buildcreative urban areas in Districts 2,9 and Thu Duc. They are expected to beequipped with the most technological advances, modern tertiary education and becomethe best urban areas in the city.
Foreign founders have chosen the city to starttheir own companies, many of them focusing on blockchain and digital currencies.
Stewie Zhu, founder of DCC, a distributed creditprovider on the blockchain, expressed his belief that Hanoi and Ho Chi MinhCity would become two of the world’s blockchain hubs.
He said he is impressed by investors’ enthusiasmin blockchain.
To become the next Silicon Valley of Asia, HoChi Minh City must overcome other heavyweight rivals such as Singapore, Jakarta(Indonesia), Bangkok (Thailand) and Penang (Malaysia).
One of the crucial issues facing startups iscapital access. Vietnam is fine-tuning policies in this regard while Singapore,Indonesia and Malaysia have offered better incentives, making it easier forstartups to pool capital and enjoy higher valuations.
Changes in culture and education are also neededto create a favourable startup scene, given that easy capital access in theUS’s Stanford and Berkeley universities has made Silicon Valley attractive tostartups worldwide.
According to experts, Ho Chi Minh City needs tochoose suitable locations for creative urban areas, better understandinvestors’ needs and deal with traffic congestion.-VNA
Nikkei Asian Reviewpublished the article on October 24.
The city built an incubator for startups inSaigon Hi-tech Park, in which giants like Intel and Samsung are based. It is alsoknown as a cradle of startups with more than 800 operating ones.
Over the past two years, the city has spent 90million USD on start-ups and innovation programmes, formed partnerships withmore than 20 foreign partners and has a total of 24 incubators and 12 startupspaces, leading to the launch of more than 760 start-ups.
Ho Chi Minh City is also working to buildcreative urban areas in Districts 2,9 and Thu Duc. They are expected to beequipped with the most technological advances, modern tertiary education and becomethe best urban areas in the city.
Foreign founders have chosen the city to starttheir own companies, many of them focusing on blockchain and digital currencies.
Stewie Zhu, founder of DCC, a distributed creditprovider on the blockchain, expressed his belief that Hanoi and Ho Chi MinhCity would become two of the world’s blockchain hubs.
He said he is impressed by investors’ enthusiasmin blockchain.
To become the next Silicon Valley of Asia, HoChi Minh City must overcome other heavyweight rivals such as Singapore, Jakarta(Indonesia), Bangkok (Thailand) and Penang (Malaysia).
One of the crucial issues facing startups iscapital access. Vietnam is fine-tuning policies in this regard while Singapore,Indonesia and Malaysia have offered better incentives, making it easier forstartups to pool capital and enjoy higher valuations.
Changes in culture and education are also neededto create a favourable startup scene, given that easy capital access in theUS’s Stanford and Berkeley universities has made Silicon Valley attractive tostartups worldwide.
According to experts, Ho Chi Minh City needs tochoose suitable locations for creative urban areas, better understandinvestors’ needs and deal with traffic congestion.-VNA
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