The central region and central highlands both boast potential and advantages in the sustainable development of the marine economy, renewable energy, tourism, and agro-forestry products, the President of the Vietnam Chamber of Commerce and Industry (VCCI) Pham Tan Cong said at the high-level “Promoting the Innovative Startup Ecosystem 2023” forum held in central Quang Nam province on August 24.

“Promoting startups and innovative startups in areas where localities hold advantages would be a driving force for the regional economy’s sustainability,” he told the gathering. “The government targets having at least 1.5 million businesses by 2025 and 2 million by 2030. VCCI has pledged to support localities in the central region and central highlands in developing local startup ecosystems, contributing to increasing the number of innovative startups.”

According to the Chairman of the Quang Nam Provincial People’s Committee, Le Tri Thanh, 14 out of 18 district-level localities and two colleges in the province have established startup associations and clubs.

Two sites for startup activities have also been established in Hoi An and Tam Ky cities, while all districts, towns, and cities in the province have plans to develop the startup ecosystem.

To further promote innovative startups in the central region and central highlands, Deputy Minister of Science and Technology Le Xuan Dinh urged localities to make better use of local resources.

“It is also essential to create more value for society and to have general directions and guiding principles to create foundations for development,” he said in his remarks to the Forum.

The World Intellectual Property Organization’s Global Innovation Index (GII) 2022 Report ranked Vietnam in 48th position out of 132 countries and territories, after only Singapore (seventh) and Thailand (43rd) in Southeast Asia.

Recent reports from DO Ventures and Cento Ventures also indicate that Vietnam is ranked third on the list of most active startup ecosystems among the six largest economies within ASEAN, following Indonesia and Singapore.