Is Vietnam an attractive environment for startups?
A product of Nami
Telepod is a startup registered in Singapore by a group of new graduates. Sharing electric scooters at low costs, Telepod has been successful in its home country, Thailand and the US.
The solution developed by Telepod helped it successfully call for 18,000 Singapore dollar of investment from Singapore Mass Rapid Transit in the angel round.
Following its success, Telepod wanted to enter Vietnam with the scooter rental of 15 cents for a lease.
However, the managers of Telepod learned from Quest Venture and Saigon Innovation Hub, the consultancy firms, that Vietnam is not an easy market to penetrate.
Who will use electric scooters on the streets where traffic jams occur regularly and there are many potholes? Will it be safe to park scooters in public areas, if all the parking lots in the country must hire keepers?
Teleport decided to make adjustments with the original business model. However, with the limited service, the profitability may not be high.
Build Easy is from Malaysia. The startup has developed a mixed reality technology in designing houses, managing construction from a distance, and connecting suppliers and construction companies to draw plans to build houses for customers.
However, in Vietnam, Build Easy can provide only one product – design of houses. This is because supply sources are not ready to cooperate with other businesses.
While foreign startups try to penetrate the Vietnamese market, many Vietnamese startups are trying to go abroad.
Nami Corporation, for example, after several months of presence in Vietnam, has arrived in Singapore. This is a blockchain-based technology firm which develops apps for use in the service sector.
Nami’s products include Nami Assistant which provides financial research, Nami.Today, a media channel, and Nami Trade, a trading floor.
Giap Van Dai, CEO of Nami, said on Thoi Bao Kinh Te Saigon that the Vietnamese laws do not support startups using blockchain technology in the financial sector related to electronic money.
In Singapore, Dai said the government sets clear regulations and startups just need to observe the law. Nami bears a tax rate applied to a technology research firm and has to pay tax only after two years of operation.
After the first two years of operation, Nami is entering the US, Switzerland and Japan markets and now has other products besides financial investment products.
Analysts said the government of Vietnam is making every effort to encourage startups. However, problems still exist which may discourage investors.
Related News
Increase revenue from building a sustainable supply chain
11:04 | 30/12/2024 Import-Export
Vietnam, Korea Customs sign AEO MRA
11:07 | 26/12/2024 Customs
Prioritizing semiconductor workforce training
09:16 | 15/12/2024 Headlines
Vietnam-Cambodia: Looking back on journey of cooperation
14:45 | 11/12/2024 Customs
Latest News
Việt Nam tightens fruit inspections after warning from China
08:01 | 15/01/2025 Import-Export
Brand building key to elevate Vietnamese fruit and vegetable sector: experts
08:00 | 15/01/2025 Import-Export
Freight transport via China-Việt Nam cross-border trains posts rapid growth
08:01 | 13/01/2025 Import-Export
Vietnamese retail industry expects bright future ahead
06:22 | 11/01/2025 Import-Export
More News
Complying with regulations of each market for smooth fruit and vegetable exports
13:06 | 09/01/2025 Import-Export
Fruit and vegetable industry aims for $10 billion in exports by 2030
15:12 | 07/01/2025 Import-Export
GDP grows by over 7 per cent, exceeds target for 2024
15:11 | 07/01/2025 Import-Export
Vietnamese pepper: decline in volume, surge in value
15:10 | 07/01/2025 Import-Export
Việt Nam maintains position as RoK’s third largest trading partner
15:09 | 07/01/2025 Import-Export
Greater efforts to be made for stronger cooperation with European-American market
15:08 | 06/01/2025 Import-Export
Leather, footwear industry aims to gain export growth of 10% in 2025
15:06 | 06/01/2025 Import-Export
Grasping the green transformation trend - A survival opportunity for Vietnamese Enterprises
14:53 | 06/01/2025 Import-Export
Việt Nam to complete database of five domestic manufacturing industries in 2026
20:57 | 05/01/2025 Import-Export
Your care
Việt Nam tightens fruit inspections after warning from China
08:01 | 15/01/2025 Import-Export
Brand building key to elevate Vietnamese fruit and vegetable sector: experts
08:00 | 15/01/2025 Import-Export
Freight transport via China-Việt Nam cross-border trains posts rapid growth
08:01 | 13/01/2025 Import-Export
Vietnamese retail industry expects bright future ahead
06:22 | 11/01/2025 Import-Export
Complying with regulations of each market for smooth fruit and vegetable exports
13:06 | 09/01/2025 Import-Export