CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Investment / News
Thailand’s Kasikornbank partners with Vietnam incubator to support startup community
Hai Yen 17:03, 2019/06/25
Kasikornbank subsidiary KVision had earmarked US$245 million to invest in Thai and foreign startups, particularly those in Vietnam.
Kasikornbank, Thailand's second-largest lender, is partnering with state-run Vietnam's Business Startup Support Center (BSSC) to help Thai and Vietnamese startups with their regional expansion plans, Nikkei Asian Review reported. 
 
Illustrative photo.
Illustrative photo.
Following a memorandum of understanding signed in May, BSSC would promote Thai companies’ expansion in Vietnam, where startups are booming, particularly in fintech and e-commerce, said Nikkei. 

Deputy Director of the BSSC Hang Nguyen said the center would help Thai startups understand Vietnamese traditions, politics and business practices, aiming to create new Thai and Vietnamese unicorns. 

To date, Vietnam has only one unicorn in online game business VNG Corporation. 

Pattarapong Kanhasuwan, chairman of Kasikornbank subsidiary KVision, said his company had earmarked US$245 million to invest in Thai and foreign startups, particularly those in Vietnam.

Since 2016, Vietnam has been aggressively nurturing its startup ecosystem, with the government pouring money into building out the country's communications infrastructure and welcoming foreign investment in high tech.

This has increased the country's internet penetration rate to 52% -- well above Thailand's 42% -- providing a welcoming environment for Vietnamese startups in fintech and other technologies.

In 2018, investment in Vietnamese startups reached $889 million, nearly triple the $291 million in 2017, according to a report by Topica Founder Institute, a startup accelerator.

Along with the BSSC, the Vietnamese government has established a project aptly named Silicon Valley Ecosystem, which is tasked with nurturing development of other technology startups.
Comments
Other news
16:35, 2025/01/20
PM invites Skoda to manufacture electric vehicles in Vietnam
The Vietnamese government would offer incentives to investors who meet technology transfer requirements and increase the scientific and technological value of their investments.
16:33, 2025/01/08
US Berggruen Holdings to help Vietnam set up investment funds
Vietnam's growing political and global supply chain prominence solidifies its position as a dynamic nation.
21:21, 2024/12/30
Vietnam releases Esports White Book 2022-2023
The growth of Vietnam's esports market is highlighted in the Vietnam Esports White Book 2022-2023, which outlines global trends.
14:43, 2024/11/18
Aircraft manufacturer Embraer seeks comprehensive aviation partnership with Vietnam
The Vietnamese leader urges the aircraft manufacturer to collaborate on technology transfer, airport construction and operation, research, and investment in Vietnam.
21:55, 2024/10/22
Better links with FDI firms to support Hanoi businesses
Hanoi will continue to focus on quality projects, especially with partners such as Japan, the United States, and Europe to boost technology transfer.
15:24, 2024/09/24
Vietnam calls for more US investment in innovation, hi-tech
The Vietnamese leader called on relevant agencies to resolve any challenges faced by investors and enhance the investment climate to encourage greater US investment in Vietnam.