Vietnam startup investment dropped 17% in 2023, while the healthcare sector attracted record investment

The Vietnam Technology and Innovation Investment Report 2024 was jointly announced by Mr. Vu Quoc Huy, Director of NIC, and Ms. Le Hoang Uyen Vy, CEO of Do Ventures. The report aims to provide an overview of the startup investment in Vietnam during 2023 and showcase the government's commitment to fostering innovation.

The report revealed that Vietnamese startups received a total investment capital of USD 529 million in 2023, marking a 17% decline compared to the previous year. This decrease reflects the impact of the volatile global economic climate on Vietnam's technology investment scene. However, Vietnam's market demonstrates relative resilience compared to the steeper 35% drop observed in global venture capital investments.

Notably, Vietnam maintained its third position in Southeast Asia for the number of investment deals and the total investment value, with Singapore and Indonesia leading the region. In 2023, nearly 100 investors backed Vietnamese startups, with Singapore leading as the most active investor in Vietnam’s tech sector, followed closely by Vietnam in second place.

The report highlights a significant shift in investment focus. Notably, the Healthcare sector witnessed a record-breaking surge, receiving 391% more capital compared to 2022 and becoming the leading recipient of investments. The Education sector also experienced a substantial increase, attracting 107% more capital year-on-year.

A full report can be accessed here.