Vietnam: Putin Bamboo Strategy, Data Sovereignty & 49% Foreign Ownership Limit & Investment Landscape with Valerie Vu - E449

BRAVE Southeast Asia Tech: Singapore, Indonesia, Vietnam, Philippines, Thailand & Malaysia Startups, Founders & Venture Capital VC (English)

Valerie Vu, Founding Partner of Ansible Ventures, and Jeremy Au discussed three main themes:

1. Putin Bamboo Strategy: Vietnam’s “bamboo strategy” foreign policy involves maintaining strong roots while being flexible, which allows Vietnam to navigate relationships with global superpowers like the US, China, and Russia. Valerie highlighted that in less than a year, Vietnam hosted visits from Presidents Xi Jinping, Joe Biden, and Vladimir Putin. This balancing act is crucial for Vietnam given its historical ties with Russia for military supplies and Vietnam war support, and its growing economic connections with the US and China. Valerie also pointed out that while the US expressed disappointment over Putin’s visit, Vietnam’s neutral stance is essential for its strategic, political, and economic interests.

2. Data Sovereignty & 49% Foreign Ownership Limit: Vietnam's new data sovereignty laws require tech giants like Amazon and Google to store data locally, similar to China and USA. They also discussed the foreign ownership cap, which limits foreign entities to 49% ownership in sensitive sectors like banking to safeguard national interests. However, insufficient local data capacity has led Vietnam to now allow 100% foreign ownership in data centers to attract more data center operators.

3. Investment Landscape: Valerie shared insights into the sectors thriving in Vietnam despite global financial uncertainties. She mentioned that consumer goods, healthcare, and education are performing exceptionally well. She discussed the challenges faced by fintech startups in Vietnam, particularly due to the lack of an open regulatory sandbox and the dominance of well-established banks.

Jeremy and Valerie also discussed the impact of geopolitical tensions on FDI in Vietnam, the importance of infrastructure development for sustained economic growth, and the shift in educational trends.

Watch, listen or read the full insight at https://www.bravesea.com/blog/vietnam-bamboo-strategy

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