Representatives from Da Nang relevant agencies have recently participated in a forum themed ‘Invest Viet Nam: High-tech investment and startups,’ organised in both in person and virtual forms, by the Vietnamese Embassy in India.

The forum ‘Invest Viet Nam: High-tech investment and startups’ is in progress. Photo: TRIEU TUNG

The event saw the participation of some representatives of Vietnamese authorities, investment, science-technology and startup ecosystem management agencies as well as investment funds and startup companies of Karnataka, the largest state in South India and sixth largest in India.

Vietnamese representatives at the forum included those from the Office of the project to support the national innovative startup ecosystem to 2025 (Project 844) under the Ministry of Science and Technology, and a number of startup incubators and centres such as BKHoldings, SaigonTel.

In addition to the Da Nang Department of Foreign Affairs, other local agencies joining the event were the municipal Department of Science and Technology, the Auhtority of the Hi-Tech Park and Industrial Zones and the Information Technology Park Development Joint Stock Company.

The seminar aims to connect Indian partners with high-tech and information technology industry centres in Viet Nam and facilitate them to gain a deeper insight into the business environment, startup supportive policies in Viet Nam.

It is known that the city of Bangalore in Karnataka State, known as the ‘startup capital’ of India and the ‘Silicon Valley of South Asia’, contributes more than 60% of India's IT exports. Karnataka is now home to 14 out of more than 30 unicorn startups of India having the value of over US$1 billion.

At the event, the Da Nang participants briefed the Indian businesses on outstanding mechanisms and policies supporting startups and innovative drives in the city, especially its preferential incentives for attracting domestic and foreign investment into the High-Tech and IT parks. Besides, proposals on bilateral cooperation programmes in hi-tech, IT and innovative startups with Karnataka State were made the event.

Addressing the event, Vietnamese Ambassador to India Pham Sanh Chau said that science-technology is one of important pillars of the Viet Nam-India comprehensive strategic partnership.

The Vietnamese Embassy and the Vietnamese Science-Technology Office in India have carried out various activities to promote bilateral collaboration in the field, he said, affirming high determination to foster the connection of both sides’ innovative startup ecosystems.

In reality, many Indian businesses are very interested in expanding the market, looking for investment opportunities in Viet Nam, especially in hi-tech, IT, biotechnology and pharmaceuticals. 

The Karnataka delegates showed their willingness to partner with the Southeast Asian country in developing the innovative startup ecosystem and assist businesses of both sides to seek partnership and boost market expansion.

Reporting by TRIEU TUNG- Translating by A.T