Deputy PM Vu Duc Dam (second from right) talks to startup representatives at Techfest Vietnam 2017 (Photo: baodautu.vn)

Addressing the opening ceremony, Deputy Prime Minister Vu Duc Dam said Vietnam’s innovation index has jumped 12 places to rank 47^th out of 127 countries and economies. He stressed the importance of innovation and startup to bring Vietnam out of the middle-income trap.

With larger scale compared to last year’s edition, Techfest Vietnam 2017 was estimated to attract up to 4,500 visitors, 200 startups, and hundreds of foreign investors and economic groups. It featured six potential areas for startup-related activities – agriculture, education, tourism, food services, health, new technologies, and start-up support communities.