. "We'd like to develop an ecosyste

. "We'd like to develop an ecosystem where it would be really rewarding for investors and angels, as well as contribute investments into the country."
Vietnam might succeed, if it can get out of its own way. Strict and often confusing regulations limit homegrown companies, while corruption remains a serious issue. According to a report from Transparency International, only 52 of the globe's 175 tracked countries are considered more corrupt than Vietnam.Venture capitalists are rare, as Vietnamese investors would rather plow their savings into real estate instead of startups. And there's not a good ecosystem for funding and expanding companies. Because of all this, few Vietnamese companies have been able to move outside Southeast Asia and become household names.
That doesn't mean Vietnam isn't trying.
Not just another cog in the wheel
Over the past decade, Vietnam has expanded beyond its traditional textiles and coffee businesses to become a big player in the electronics manufacturing supply chain. Many of the world's smartphones are now assembled in the country, and giants such as Samsung have been growing their operations in Vietnam. The country, still run by a conservative Communist government, is now trying to figure out how to move beyond being just another cog in the manufacturing wheel.
Over the past couple of years, a new wave of startups and entrepreneurs have emerged in Vietnam. Call it the "Flappy Bird Effect," named for the mobile game that went viral last year before its Hanoi-based creator, Nguyen Ha Dong, pulled it from Apple's App Store for being "too addictive." At the game's peak, Dong was making about $50,000 a day in advertising -- the amount a typical Vietnamese worker earns over nearly three decades.