Vietnam's tech ecosystem is thriving, but challenges persist

A look at the ASEAN nation's progress toward birthing 10 unicorns by 2030

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VNPAY logo is seen at a shop in Hanoi. © Reuters

Hau Ly is a partner at Ascend Vietnam Ventures (AVV), an early-stage venture capital firm investing in Southeast Asia with a focus on Vietnam.

I became a venture capitalist in Vietnam in 2016, which the government coincidentally dubbed "the year of startups," making the startup ecosystem a national strategic priority. Vietnam has since emerged as a thriving Southeast Asian tech hub, and ambitious long-term goals have been set. By 2030, Vietnam wants to have 10 unicorns, and the digital economy is expected to contribute 30% of gross domestic product.

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