Ho Chi Minh City ranks third in Southeast Asia in terms of startup ecosystem value, with an economic impact of $5.22 billion, according to Startup Genome Global Startup Ecosystem Report, as quoted by the Vietnam News Agency.

The report was released at the Saigon Summit held recently in the southern city.

Meanwhile, the 2023 Southeast Asia Digital Economy Report, jointly conducted by Google, Temasek, and Bain & Co, predicted that Vietnam’s digital economy will continue to grow at a rapid pace, with an estimated value of $45 billion by 2025, the news agency further reported.

It quoted the 2023 Southeast Asia Digital Economy Report as remarking that Vietnam's large consumer base of approximately 100 million people offers significant opportunities for startups and businesses looking to expand their operations.

In addition, a report from Vietnam's National Innovation Centre (NIC) and Golden Gate Ventures identified five key sectors expected to drive Vietnam's future economic growth - healthcare technology, financial technology (fintech), logistics tech, green economy, and educational technology, according to the news agency.

Themed “Charting Vietnam’s Tech Future”, the Saigon Summit highlighted Vietnam’s growing prominence in the tech industry, which is rapidly advancing to compete with other major players in the region.

It attracted over 700 startup and innovation leaders from across Southeast Asia, alongside representatives of 50 companies and 20 prominent speakers. Keynote addresses were delivered by notable figures such as Le Hong Minh, founder and CEO of VNG; Niraan de Silva, CEO of VNLife; and Min-Liang Tan, CEO and co-founder of Razer.

The event provided valuable networking opportunities for participants to connect with innovators and entrepreneurs, explore emerging sectors, and build partnerships. The summit's "Investor Hour" also featured tailored meetings based on industry sectors and stages of business development, encouraging in-depth discussions between founders and investors, the news agency remarked.