Singapore startups attracted to Vietnam market: Strait Times

VietNamNet Global

Vietnam’s large workforce, lower labor costs, and sizeable markets are factors drawing Singaporean startups to the country.

Strait Times cited the assessment from venture capital company Quest Ventures, discussing potential destinations for Singaporean companies that are looking to venture abroad through its Government’s Global Innovation Alliance (GIA) acceleration program, estimated at over 400 in less than five years.

“The labor force in Vietnam is increasingly well educated and still relatively cheap compared to Singapore,” James Tan, managing partner of venture capital company Quest Ventures, was quoted by Strait Times as saying.

Tan also pointed to the country’s tech-savvy population and burgeoning middle class, making it a potential pool of customers.

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