The Vietnam Innovation Summit 2024, held in Ho Chi Minh City on November 15-16, 2024, brought together government officials, business leaders, and investors from across the Asia-Pacific region to explore the future of innovation and investment.
Themed “Innovate – Transform – Sustain: Shaping the Future Together,” one of the summit’s highlights was a panel discussion featuring three international experts representing government agencies from the prestigious InnoLab Asia network: Ms. Harriet Bartlett from Perth Landing Pad (Australia), Mr. Shun Ono from Fukuoka Growth Next (Japan), and Ms. Ahram Chui from Goyang Investment Agency (South Korea).
Drawing from their extensive experience and strategic vision, the speakers shared valuable insights into opportunities and challenges for investment in each country.
Australia: A Strong Foundation for Innovation in Agriculture and Mining
Ms. Harriet Bartlett underscored the Australian government’s commitment to fostering innovation, particularly in key economic sectors. “Australia boasts a thriving agricultural sector alongside a robust mining industry. With an ambitious 10-year innovation plan, the country offers an ideal environment for initiatives in these fields,” she affirmed.
Japan: Opportunities for Deep Tech Collaboration
Mr. Shun Ono, representing Fukuoka Growth Next, emphasized Japan’s strategic focus on deep tech and expanding international collaboration. “Japan, with its advanced economy, resilient industries, and substantial financial resources, is working towards breakthrough products and services leveraging its modern infrastructure,” he shared.
South Korea: A Launchpad for Rapid Growth and the Hallyu Wave
Ms. Ahram Chui from Goyang Investment Agency positioned South Korea as a prime destination for businesses aiming for rapid growth while capitalizing on the cultural influence of the Hallyu Wave. “Goyang stands at the heart of Korean culture… We have achieved significant success in cultural and media sectors,” she noted.
Understanding Business Cultures: The Key to Success
The speakers emphasized the importance of understanding cultural differences and business practices to ensure success in each market.
Although Japan and South Korea share similarities, Ms. Ahram Chui noted South Korea’s fast-paced and dynamic market, while Mr. Shun Ono highlighted Japan’s consensus-driven decision-making culture. “Failing to adapt to the specific business cultures of each country could lead to unnecessary challenges,” Mr. Ono cautioned.
Building Relationships and Leveraging Local Networks
All speakers agreed that fostering strong relationships and utilizing local networks are essential for overcoming barriers to foreign investment.
The Vietnam Innovation Summit 2024 reaffirmed its pivotal role in promoting cross-border collaboration and unlocking the vast potential of the Asia-Pacific region as a hub for innovation and investment. The presence of key partners from the InnoLab Asia network further emphasized the value of international cooperation in driving sustainable economic growth and development.
Conclusion of Vietnam Innovation Summit 2024 with Strategic Partnership Signing
The Vietnam Innovation Summit 2024 (VIS 2024) culminated in a milestone partnership signing ceremony between InnoLab Asia and key strategic partners from both domestic and international markets, marking a significant step toward fostering a global innovation ecosystem.
The highlight of the event was InnoLab Asia’s official designation as an Authorized Channel Partner of the Ajman Free Zones Authority (AFZA). The agreement was formalized in a prestigious afternoon ceremony witnessed by international delegates, businesses, and the startup community.
This collaboration with AFZA provides groundbreaking opportunities for InnoLab Asia to connect businesses, startups, and investors in the Asia-Pacific region with AFZA’s robust platform and innovative solutions. Together, the two organizations aim to drive business expansion, support sustainable enterprise growth, and unlock new global market opportunities.
In addition to the partnership with AFZA, InnoLab Asia also signed agreements with other strategic partners, including Philosophia (South Korea), KUMPUL (Indonesia), and Saigon Entrepreneur Magazine (Vietnam). These collaborations mark a significant step in building an international network to promote innovation, foster the ASEAN startup ecosystem, and amplify sustainable value creation in the business community.
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