The Vietnamese government has issued Resolution No. 86/NQ-CP, a national strategy for innovative startups that establishes concrete goals for ecosystem growth, venture capital, and global rankings by 2030.
Vietnam's first comprehensive national strategy for innovative startups aims to accelerate its technology sector. This government-led effort codifies ambitious targets, including the creation of at least three new unicorn startups and the expansion of the venture capital market. The formal framework seeks to attract investment, foster high-growth companies, and position Vietnam as a leading innovation hub in Southeast Asia.
What We Know So Far
- The Vietnamese government issued Resolution No. 86/NQ-CP, a national strategy for innovative startups, which was dated April 5 and announced by the Ministry of Science and Technology on April 7, according to reports from vietnamnews.vn.
- The strategy sets a target for Vietnam to have at least five unicorn startups—companies valued at $1 billion or more—by 2030, an increase from the two currently reported.
- Under the resolution, the venture capital market is projected to reach $1.5 billion by 2030, as reported by en.vneconomy.vn.
- By 2030, the country aims to have five million business entities in total, with a specific goal of fostering at least 10,000 innovative startups within that figure.
- The strategy includes goals for international recognition, aiming for Vietnam to rank among the top 40 countries in the Global Innovation Index and within the top 45 on the global startup ecosystem index.
- Longer-term ambitions for 2045 include becoming one of the top 30 countries globally for innovation and entrepreneurship, with a venture capital market worth $10 billion.
Vietnam's National Innovation Strategy Explained
Resolution No. 86/NQ-CP marks a foundational policy shift, establishing Vietnam's first comprehensive, long-term national framework specifically for its innovative startup sector. This strategy moves beyond general economic development goals to address the unique needs of high-potential technology companies, from early-stage funding to regulatory hurdles.
A central pillar of the strategy involves significant legal and administrative reforms. According to a report from vir.com.vn, the government has mandated improvements to the legal framework governing startups and venture capital. This includes the digitization of administrative procedures to reduce friction for entrepreneurs and investors. The resolution also calls for piloting new, more flexible corporate mechanisms, such as a "one-person enterprise" model and streamlined bankruptcy procedures, designed to encourage risk-taking and simplify business operations.
The strategy outlines a clear objective to cultivate a critical mass of new businesses, targeting five million total business entities by 2030, with 10,000 classified as "innovative startups." This establishes a quantitative benchmark for success, aiming to both broaden the overall business base and deepen the pool of high-growth, technology-driven companies capable of competing regionally and globally, building a robust pipeline for future scaling.
How Vietnam Plans to Create Unicorn Startups by 2030
The national strategy's headline goal is to increase Vietnam's unicorn count from two to at least five by 2030. This ambition is directly supported by a parallel target to expand the country's venture capital market to $1.5 billion within the same timeframe, acknowledging that substantial risk capital is essential for funding the rapid growth required to achieve billion-dollar valuations.
Vietnam's current startup landscape provides a foundation for this goal. According to a 2025 report cited by vietnamnews.vn, the country is home to over 4,000 startups. While only two have officially reached unicorn status, the report notes that dozens of other firms are nearing the $1 billion valuation mark. The government's strategy appears designed to provide the final push for these "soonicorns" while simultaneously nurturing the next generation of contenders. The focus is on creating an environment where scaling is not just possible but actively encouraged through policy.
The strategy's long-term vision extends beyond 2030, indicating a sustained commitment. By 2045, Vietnam aims for at least 100 startups valued at $100 million or more, creating a much deeper bench of high-value companies. This is coupled with a goal for the venture capital market to reach $10 billion by 2045. These future targets frame the 2030 objectives as an important milestone in a multi-decade plan to transform Vietnam into a mature, self-sustaining technology powerhouse, focusing on both top-tier unicorns and a robust mid-tier of valuable companies.
Vietnam's Push for Global Ecosystem Recognition
Beyond internal development, Vietnam's national strategy emphasizes improving its standing in global innovation and startup rankings. Specific goals include ranking among the top 40 in the Global Innovation Index (GII) and within the top 45 in the global startup ecosystem index by 2030. These higher rankings are designed to enhance the country's international brand, signaling to foreign investors, multinational corporations, and skilled talent, potentially attracting more resources to the ecosystem.
The country has already demonstrated upward momentum. In 2025, Vietnam's startup ecosystem was ranked 55th globally. Its major cities are also gaining prominence. Ho Chi Minh City recently broke into the top five startup ecosystems in Southeast Asia and ranked 110th globally. Meanwhile, Hanoi rose to 148th, and the coastal city of Danang made a significant leap of 130 places to reach 766th worldwide. These existing trends provide a baseline from which the new national strategy aims to accelerate progress.
The policies outlined in Resolution 86 are directly tied to global index metrics, such as ease of starting a business, regulatory quality, access to capital, and successful exits. By focusing on improving the legal framework, digitizing bureaucracy, and growing the venture capital market, the strategy systematically addresses the core components of a healthy startup ecosystem, aiming to build measurable, internationally recognized infrastructure that supports them.
What Happens Next
With the issuance of Resolution No. 86/NQ-CP, the focus now shifts from policy formation to implementation. Government ministries, including the Ministry of Science and Technology, will be tasked with developing specific action plans, timelines, and budgets to execute the strategy's directives. The success of this initiative will depend on how effectively these high-level goals are translated into tangible programs and legal reforms.
Key areas to watch will be the legislative changes proposed to streamline business creation and investment. The introduction of pilot programs for new corporate structures will be a critical test of the government's commitment to regulatory innovation. Observers will also monitor the flow of capital into the country's venture funds to see if the strategy successfully stimulates the targeted $1.5 billion market.
Several open questions remain. The criteria for defining an "innovative startup" will need to be clarified to accurately track progress toward the 10,000-startup goal. Furthermore, the specific mechanisms the government will use to attract foreign venture capital and support local fund managers are not yet detailed. The coming months will be crucial for establishing the concrete steps that will determine whether Vietnam can achieve its ambitious vision of becoming a leading regional hub for innovation by 2030.
