Vietnam and India’s Karnataka state are exploring the promotion of information and communication in the start-up ecosystem. During a recent webinar, Vo Xuan Hoai, the Deputy Director of the National Innovation Centre (NIC), said that in the coming time, the two sides will have several bilateral cooperation programmes on promoting innovation and increasing investment in IT, electronics, information, smart factories, smart cities, and digital communication.
Ambassador Nguyen Thanh Hai highlighted the immense potential for IT collaboration and growth in Karnataka. Karnataka has solidified its status as a prominent global hub for startups and innovation, boasting over 400 international research and development centres as well as 4,000 startups located in Bangalore.
Hoai acknowledged the advancements in science, technology, and innovation made by Karnataka, which is India’s leading innovative startup hub. He highlighted Vietnam’s reputation as a dynamic nation that actively fosters innovation, as evidenced by its Global Innovation Index ranking of 48th out of 132 economies.
The webinar aimed to facilitate connections and generate opportunities for investors and businesses from both sides to convene and exchange ideas. The intent was to unlock the development potential of both countries and foster mutually beneficial collaborations. The Trade Counselor of the Vietnamese Embassy said the event would open new opportunities and collaboration for the IT and communication industries of the two countries while promoting trade and investment.
In 2021, the Vietnamese Embassy in India in coordination with authorities of Bangalore, the capital city of Karnataka held a Vietnam-India investment and startup forum. The event was themed “Invest Vietnam: High-tech investment and startups”. The event was conducted in a hybrid format. It garnered attendance from various stakeholders, including representatives from local authorities, investment agencies, science-technology organisations, startup ecosystem management agencies, as well as investment funds and startup companies from Karnataka. Participants exchanged information on the situation and development of innovative startup ecosystems on both sides as well as their experience in the field.
Representatives from Karnataka showcased the state’s policies and shared their experiences in fostering a thriving startup ecosystem. They highlighted the initiatives and measures undertaken to support startups. Vietnamese startup incubators and centres expressed their interest in cooperating with their peers in Karnataka.
The same year, Vietnam and India signed a Memorandum of Understanding (MoU) on bilateral cooperation in information technology and electronics. Recognising the significance of digital transformation as a catalyst for the advancement of the digital economy, digital society, and digital government, they announced they would intensify their efforts in this domain. Both countries agreed to establish additional channels that facilitate the establishment of connections between businesses and promote trade and investment. They planned to jointly study and build a new cooperation framework toward the establishment of a digital partnership.
In February this year, the Vietnam Trade Office in India participated in the 25th International Engineering & Technology Fair (IETF). It set up a stall to showcase Vietnam’s industry and technology sectors while providing support for Vietnamese companies seeking investment and business opportunities in India.
The booth served as a platform to introduce the overall industry landscape of Vietnam and facilitate the promotion of select Vietnamese companies. It aimed to attract potential investors and partners from India. The trade office had organised a meeting specifically targeting Indian technology enterprises and startups involved in the auto-motorcycle parts manufacturing industry. The meeting aimed at fostering discussions and exploring opportunities for partnerships between Vietnamese and Indian entities.