The Vietnamese government has issued Resolution No. 86 on the National Strategy for Innovative Entrepreneurship Development, with the aim of making this sector a driving force for economic growth and sustainable development.
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The objective of the Strategy is to establish and widely disseminate a dynamic of innovative entrepreneurship based on science, technology, and digital transformation throughout society. The goal is to make entrepreneurial innovation an essential driver of socioeconomic growth, improve the standard of living for the population, promote industrialization and modernization, strengthen national autonomy, and ensure rapid and sustainable development of the country. In the long term, Vietnam aims to be among the regional leaders in this field.
By 2030, the country aims to have five million economic entities, including at least 10,000 innovative start-ups. All higher education and vocational training institutions must integrate innovation and entrepreneurship content into their programs. Additionally, 100% of essential administrative procedures related to business creation must be digitized.
The strategy also envisions 60% of economic actors using digital tools and platforms in their activities, while 40% rely on shared digital services. A network of at least 300 innovation spaces, centers, and hubs will be established nationwide.
Internationally, Vietnam aims to be among the top 40 countries in the Global Innovation Index (GII) and the top 45 in terms of startup ecosystems. The country also targets the emergence of at least five start-ups valued at over one billion dollars and a venture capital market reaching 1.5 billion dollars.
Ambitious goal by 2045:
In the longer term, by 2045, Vietnam intends to be among the top 30 global economies in terms of innovation and entrepreneurship, with key goals such as one entrepreneur for every ten inhabitants, one business for every 35 inhabitants, and one innovative start-up for approximately 5,000 inhabitants. The country also aims to create at least 100 start-ups valued at over 100 million dollars and a venture capital market estimated at 10 billion dollars.
To achieve these objectives, the strategy revolves around eight priority areas, including promoting an innovative entrepreneurial culture through awareness campaigns, developing infrastructures and dedicated innovation spaces, as well as establishing innovation hubs at national and local levels.
The government also plans to test experimental frameworks (“sandboxes”) for new technologies and services, particularly in digital assets, artificial intelligence, fintech, and logistics, to attract international talent and capital.
Enhancing the legal framework is another major pillar, with specific mechanisms to support start-ups, especially in terms of access to capital markets and the development of new financial instruments based on intangible assets.
The strategy also emphasizes training human resources, with the development of programs in STEM/STEAM and the creation of universities focused on innovation and entrepreneurship. Initiatives to train a new generation of tech entrepreneurs and support applied research are also planned.
The development of the venture capital market is a key lever, with diversification of financing channels, the use of crowdfunding, and the establishment of platforms dedicated to innovative start-ups.
Finally, the strategy aims to enhance Vietnam’s international integration into innovation networks by developing partnerships with international players, facilitating Vietnamese start-ups’ access to foreign markets, and attracting international talent through tailored visa policies.
VNA/CVN
