REE and Zone Startups sign an agreement to foster start-ups at a ceremony in HCM City on Monday. — Photo courtesy of REE

Refrigeration Electrical Engineering Corporation (REE) has signed a deal with Zone Startups Vietnam to support, train promising technology start-ups and generate business opportunities within its eco-system.

The agreement also involves funding for promising start-ups.

From 2022 REE will also build relationships with leading technology companies.

The company was a pioneer in Viet Nam in technology, and was the second company to list on the stock market in 2000. Currently it is expanding its diversified business activities in a number of fields, including M&E refrigeration engineering, real estate and electricity and water infrastructure.

Viet Nam's start-up eco-system currently ranks third in Southeast Asia after Singapore and Indonesia.

In the past two years the total value of investment in technology start-ups increased more than six-fold. With its market of nearly 100 million people and a young demographic, the country’s start-ups are receiving great attention from domestic companies and venture capital funds.

The initiative with Zone Startups is expected to bring business opportunities, foster innovation and great resources to support the start-up eco-system.

Zone Startups, part of a global network of accelerator programmes, came to Viet Nam in 2018 in partnership with Vinacapital Ventures, UniBrand, TalentNet, and TTG Holdings. — VNS