Vietnam’s Innovation Summit 2024 Brings Global Insights and Opportunities

The Vietnam Innovation Summit 2024, held under the theme “Innovate—Transform—Sustain: Shaping Future Together,” kicked off on November 15 at the Rex Hotel Saigon in Ho Chi Minh City. This two-day event, organized by InnoLab Asia in partnership with Saigon Entrepreneur Magazine and the Department of Science and Technology of Ho Chi Minh City, is designed to foster connections among businesses within the innovation ecosystem. It offers an interactive platform for sharing technological advancements, exploring cutting-edge initiatives, and engaging in discussions about sustainable development.

At the event’s opening, Vo Van Hoan, Vice Chairman of the Ho Chi Minh City People’s Committee, highlighted Vietnam’s growing appeal to international venture capital investors, driven by its vibrant economy and youthful, creative workforce. He emphasized the city’s role in supporting the country’s most dynamic innovative startup ecosystem, which aligns with the summit’s objective of enhancing the quality of Vietnam’s creative entrepreneurial landscape.

The Vietnam Innovation Summit 2024 has attracted over 1,500 participants, including innovation experts, business leaders, investment funds, and startups from Vietnam and abroad. The event provides a platform for Vietnamese startups to showcase their innovative solutions and connect with global investors from countries such as Australia, the UK, Germany, and South Korea.

This year’s summit agenda covers a wide range of topics, including sustainable development solutions, emerging technologies such as AI, blockchain, and quantum computing, smart manufacturing, automation, and innovation in educational technology. 

The summit has also strengthened international partnerships, with the Malaysia Digital Economy Corporation (MDEC) facilitating the participation of 30 Malaysian tech companies. Key collaborations were formalized through agreements between Malaysian and Vietnamese entities, including ventures in solar project financing, KPI software solutions, and influencer marketing. These partnerships are expected to boost innovation and generate significant economic engagements valued at over RM150 million.

Ho Chi Minh City has hosted over half of the nation’s startups, 40% of incubators, and 60% of venture capital funds. Vice Chairman Vo Van Hoan highlighted the city’s focus on supporting a supportive legal framework and policies for startups and investors, aiming to enhance its innovation ecosystem’s efficiency and global standing. 

Vice Chairman Vo Van Hoan emphasized that the event offers a unique opportunity for Vietnamese startups to present their innovations to the world, attract venture capital from developed countries, and strengthen regional connections. The summit highlights initiatives from nations such as Australia, Singapore, Thailand, Malaysia, and Switzerland, showcasing groundbreaking sustainable development projects aimed at addressing global challenges.

The summit also saw international collaboration, with the DEX Connex Vietnam 2024 program facilitating partnerships between Malaysian and Vietnamese companies. Building on the success of previous events in the Philippines, Indonesia, and Thailand, the program led to the signing of multiple Memoranda of Understanding (MoUs) and Memoranda of Agreement (MoAs), generating over RM600 million in potential opportunities. Experts at the summit stressed the importance of international cooperation in enhancing the competitiveness of startups and helping them expand into the global market.