Start-up investment in Southeast Asia doubles despite COVID-19
Investment in start-ups in Southeast Asia soared in the second quarter of this year despite the COVID-19 pandemic, led by e-commerce and fintech companies.
Hanoi (VNS/VNA) - Investment in start-ups in Southeast Asia soared in the secondquarter of this year despite the COVID-19 pandemic, led by e-commerce andfintech companies.
Data from Singapore-based start-up information platform DealStreetAsia showedthe value of fundraising deals in Southeast Asia rose 91 percent on the year to2.7 billion USD in the second quarter of this year, while the number oftransactions increased by 59 percent to 184 compared to the same period lastyear.
Of these, Indonesia topped in deal value, accounting for 45.6 percent.
Singapore ranked second, followed by Vietnam, the Philippines and Myanmar.
E-commerce topped the chart by raising 691 million USD, followed by logisticswith 360 million USD and fintech at 496 million USD.
Tokopedia, an Indonesian e-commerce unicorn, attracted the most capital at 500million USD.
Vietnamese e-commerce company Tiki raised 130 million USD in a deal led by theNorthstar Group, the fifth-biggest deal in the region in the first sixmonths.
Ngo Hoang Gia Khanh, Tiki’s vice president of business development, said thatthe company recorded significant growth in customers' shopping needs during thepandemic, especially masks, handwash and necessities.
Using a nationwide network of order fulfilment centres and an express deliveryservice called TikiNow, Tiki made a difference from domestic and regionalrivals, said Khanh.
It also offers free installation for heavy and bulky goods.
The growing demand for online shopping in Southeast Asia has also heated up thelogistics and delivery sector.
Singapore's Ninja Van announced a 279 million USD fundraising round in May.
Fintech is also rising and Voyager Innovations, the company behindPhilippine mobile payment app Paymaya, raised 120 million USD in April./.
Consumer goods, health care, energy, construction materials, infrastructure, and technology are among the sectors with enormous potential for investment in Vietnam once the COVID-19 pandemic subsides, an expert has said.
The national fund for employment’s loan assistance of 2 billion VND (86,784 USD) will be distributed among winners of an ongoing startup contest for rural youths this year, according to organisers.
The development of 5G in Vietnam will be the foundation for innovation for all economic sectors in the country, said Nguyen Phong Nha, deputy general director of the Authority of Telecommunications under the Ministry of Information and Communications.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
