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Hi readers,
Wear polka dots. Serve noodles. Prepare a prosperity bowl. Eat 12 grapes when the clock strikes midnight. These are just some of the traditions and rituals practiced across the globe to welcome the new year and attract good fortune.
If Southeast Asian countries were people, I wonder what each would do. Perhaps Indonesia would probably practice all these rituals and more as it faces a dwindling middle class and a VAT hike.
But the Philippines and Vietnam, long dubbed as the “next Indonesia,” may not be as keen on doing them all. As the region’s next biggest countries, they could expect to get startup investments from eager investors in 2025.
Most investors who spoke to Tech in Asia remain optimistic that good fortune will be on their side despite the threat of higher digital taxes set to be imposed this year in both Vietnam and the Philippines. Not even US President-elect Donald Trump’s planned tariffs are shaking their confidence.
Is that bullish or foolish? Let’s circle back next year.
— Elyssa Lopez, journalist at Tech in Asia
Top stories this week
Image credit: Timmy Loen
1️. PH, VN investors say ‘shake ‘em off’ to taxes and tariffs in 2025
The Philippines and Vietnam are adopting the protectionist stance favored by its neighbors, but investors seem undeterred.
2. Shrinking middle class pushes Indonesian brands to adapt
Brands such as Kopi Kenangan and Somethinc are expanding despite the tech winter, opting to self-finance their growth.
3. GMI Cloud bets big on Nvidia AI chips amid market fears
The GPUaaS startup spent millions buying Nvidia’s top chips, saying the need for massive computing power won’t go away.
4. Forget founder mode, the time of the fractional founder has come
Fractional founders divide their time and expertise across multiple startups by providing part-time leadership.
5. Should Indonesian startups brace for a stormy 2025?
Funding levels are set to dip further in 2025, fueled by mounting troubles at once high-flying startups.
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