Hightlights at Techfest Vietnam 2018

Prime Minister Nguyen Xuan Phuc attended the opening ceremony of the national start-up day ‘Techfest Vietnam 2018’ in the central city of Da Nang on November 29, affirming the government’s support for young start-ups. The Government is strongly committed to protecting intellectual property rights and providing capital to help young people realize their start-up dreams in the future, he said.

The PM stressed that start-up programmes will help the country reach its target of each person earning US$18,000 per year by 2045 when Vietnam celebrates the 100th anniversary of the Independence Day. Start-up programmes in Vietnam have achieved goods results with 93 Vietnamese start-ups worldwide, he said, adding the innovation in start-up programmes is seen as a valuable resource.

News and information related to start-ups and innovation have been among the top keywords searched for on Google in Vietnam recently. It clearly shows that start-up and innovation have become a major interest among Vietnamese people, the PM said.
The PM urged young people and students to think big and take risks in turning their desires and dreams in business startups.

According to the latest report, Vietnam has 3,000 innovative start-up businesses, and the figure will increase to 5,000 by 2020. Moreover, during just 3 days, the event earned a total of about 7.86 million USD in commitment for 160 startup projects from investors.  Activities within the framework of the Techfest Viet Nam 2018 attracted a total of about 5,500 participants, many of whom were investors, representatives from domestic and foreign investment funds, speakers from Viet Nam and 20 other countries worldwide. This year’s event also featured a total of 600 startup stands nationwide – the biggest number recorded since Techfest began in 2015.

Deputy Minister Tung affirmed that the constructive opinions and recommendations by investors and experts during Techfest seminars will be taken into careful consideration so as to enhance the effectiveness of supporting activities for startups in the country. Besides, the Ministry of Science and Technology will strictly implement a national-level project to support domestic innovative startups, and work closely with other national government agencies to issue support policies and synchronize legal framework so as to facilitate the operation of domestic startup businesses, investors and startup support organisations at home and abroad, as well as create favourable conditions for foreign businesses to seek investment opportunities in Viet Nam.