Making Viet Nam a startup and innovation nation

In his remarks at the opening ceremony of the National Innovation Startup Festival 2025 (TECHFEST Viet Nam 2025), held under the theme "Innovation for All – A New Growth Driver," the Prime Minister stressed that people and businesses are placed at the center—as the key actors, resources, and driving forces of innovation. Education and science serve as critical and pioneering pillars, while the State plays a development-enabling role, affirming that Viet Nam's aspiration for innovation is not merely a slogan but a concrete direction for action.

The transformation focuses on shifting from technology application and outsourcing to research and mastery of core technologies; from fragmented startup activities to a unified and dynamic innovation ecosystem; from domestic markets to regional and global expansion; and from tight State control to a development-enabling role supported by an open, transparent, and coherent legal framework.

To achieve this goal, the Prime Minister called on ministries, sectors, and localities—particularly the Ministry of Science and Technology—to improve institutions and policies, remove barriers to new business models and technologies, invest in innovation infrastructure and digital platforms, and establish effective risk management mechanisms.

Key priorities include accelerating digital transformation toward a paperless administration; developing virtual assistants for government agencies; creating tailored credit guarantee and venture capital mechanisms for innovative startups; and operating an effective stock exchange dedicated to innovative enterprises.

The Prime Minister tasked the Ministry of Science and Technology with finalizing and submitting the National Strategy on Innovative Startups by December 2025, while urging Ha Noi to play a leading role as a national innovation hub. He also called for stronger linkages among the State, schools, scientists, investors, enterprises, and citizens—especially young people—to foster a vibrant culture of innovation and entrepreneurship.

TECHFEST Viet Nam was highlighted as a key platform for connecting domestic and international startup ecosystems, attracting global resources, and supporting Vietnamese startups in expanding into regional and global markets, thereby contributing to Viet Nam's ambition to become an attractive destination for innovation and technology talent.

Within the framework of TECHFEST Viet Nam 2025, the National Policy Forum will be held with the participation of more than 100 international experts to discuss emerging trends in venture capital investment, technology commercialization, human resource development, and public–private partnership models.

The event will also feature a series of more than 20 international workshops and specialized seminars focusing on artificial intelligence, data, fintech, green technology, sports technology, the circular economy, and open innovation.

Running in parallel will be an exhibition space where the public can directly experience cutting-edge technologies, including AI, IoT, robotics, advanced materials, and pioneering technological solutions. In addition, the final round of the National Innovative Startup Talent Search Competition will take place, bringing together the 20 most outstanding teams from across the country.

The event took place as the nation implements Resolution 57 of the Politburo on breakthroughs in science, technology, innovation, and digital transformation, while finalizing its national innovation strategy. TECHFEST 2025 is Viet Nam’s largest innovation event to date, expected to attract over 60,000 attendees both online and in person. It features participation from over 20 major corporations, 50 investment funds, 100 support organizations and incubators, and international delegates from six global regions, including Southeast Asia, Northeast Asia, Central Asia, the Middle East, North America, and Europe.

Viet Nam’s startup ecosystem is entering a new growth phase. In 2025, the country boasts nearly 4,000 innovative startups and two unicorns. 

According to the Global Innovation Index (GII), Viet Nam ranks 44th out of 139 countries, and its startup ecosystem ranks 55th globally. Ho Chi Minh City ranks 110th among global startup cities, Hanoi 148th, and Da Nang 766th - placing Viet Nam among the top five startup ecosystems in ASEAN and one of the three fastest-growing globally./.