The hunt for bargains in Southeast Asian’s red-hot technology arena is finally driving investors to the Philippines.Galvanized by Alibaba-founder Jack Ma’s investment in payments outfit Mynt, early-stage investors have begun to explore opportunities in one of the region’s fastest-growing economies, which since 2012 has drawn but an iota of Southeast Asian venture capital investment.

In 2017, Vietnam deputy prime minister Vuong Dinh Hue announced aims of increasing the number of businesses operating in Vietnam from 500,000 to one million by 2020. Given the relative low costs of operating in Vietnam, a youthful pool of talent from which to recruit, and a tech savvy generation to market to, this target appears achievable. Vietnam’s startups grew 14% in the first quarter of 2017, with 39,580 startups entering the market.

Singapore is experiencing a surge in venture capital fundraising, reflecting growing interest in Southeast Asia’s startups.This month, Vertex Ventures and two other venture-capital firms completed fundraising efforts in the city, each with their largest fund yet.