The Vietnamese government on April 5 issued Resolution No. 86/NQ-CP, a new national strategy for innovative startups designed to significantly expand the country's technology ecosystem and venture capital market by 2030.
Vietnam's new resolution sets clear benchmarks for its tech sector, targeting at least three more billion-dollar companies and a dramatic increase in venture capital flow into the country over the next six years. This strategy aims to position Vietnam as a leading innovation hub in Southeast Asia, building on recent momentum.
What We Know So Far
- The Vietnamese government issued Resolution No. 86/NQ-CP, a national strategy for innovative startups, on April 5, according to multiple government reports.
- The strategy aims to have at least five startups valued at $1 billion or more by 2030, a significant increase from the country's current unicorns.
- A key financial target is to scale Vietnam's venture capital market to $1.5 billion by 2030, as reported by Vietnam News.
- The plan calls for the development of at least 10,000 innovative startups by 2030, as part of a broader goal to reach five million total business entities.
- Vietnam aims to improve its international standing, targeting a rank among the top 40 in the Global Innovation Index and the top 45 in global startup ecosystem rankings by 2030.
What are the goals of Vietnam's new startup strategy?
Vietnam's national strategy outlines multi-tiered objectives for 2030 and 2045, focusing on company valuation, capital investment, and global competitiveness. Near-term goals aim to accelerate ecosystem growth, while long-term targets seek to cement Vietnam's position as a global innovation leader.
By 2030, the primary objective is to increase the number of high-value technology companies. The government has set a target of having at least five startups with a valuation of $1 billion or more, commonly known as unicorns. This implies the creation of at least three new unicorns within the next six years. To fuel this growth, the strategy aims to expand the venture capital market to $1.5 billion, according to a report from VnEconomy. This capital injection is intended to support a burgeoning ecosystem of at least 10,000 innovative startups, which are expected to emerge from a national base of five million registered business entities.
By 2045, Vietnam aims to become one of the top 30 countries globally in innovation and entrepreneurship. This long-term vision includes fostering at least 100 startups valued over $100 million, with the venture capital market projected to reach $10 billion. These targets reflect a sustained commitment to building a deep and liquid market for technology investment and a durable innovation economy.
How Vietnam plans to boost innovative startups
The Ministry of Science and Technology announced the resolution on April 7, outlining specific policy initiatives to create a more favorable environment for entrepreneurship. The plan emphasizes developing a "synchronised and comprehensive national innovation and startup ecosystem," according to Vietnam Investment Review. This involves coordinated efforts across legal, financial, and human capital to remove bottlenecks and stimulate growth.
A core component of the plan involves significant legal and regulatory reforms. The strategy calls for improving the legal framework to better support startups and investors. It specifically mandates the piloting of new, flexible mechanisms to encourage experimentation. These include the introduction of a 'one-person enterprise' model and the establishment of controlled testing zones, often referred to as regulatory sandboxes. Such sandboxes allow startups, particularly in highly regulated sectors like fintech and healthtech, to test new products and business models in a live environment under government supervision, reducing the risks associated with regulatory uncertainty.
Beyond legal reforms, the strategy focuses on developing skilled personnel and unlocking new capital sources. This requires investment in education and training programs to build a talent pipeline for high-growth technology companies. These efforts build on existing progress: in 2025, Vietnam's startup ecosystem ranked 55th globally, with Ho Chi Minh City in the top five ecosystems in Southeast Asia. The strategy aims to accelerate this trend through targeted government support.
What Happens Next
With Resolution No. 86/NQ-CP issued, implementation begins, led by the Ministry of Science and Technology. Successful execution requires collaboration across government agencies, local authorities, and the private sector. Immediate next steps involve translating high-level strategic goals into detailed action plans, ministerial circulars, and specific nationwide programs.
The venture capital and startup communities will be closely watching for details on several key initiatives. The process for establishing and governing the proposed "controlled testing zones" is a critical open question, as its design will determine its effectiveness for fintech and other regulated industries. Similarly, the specific legal amendments aimed at "unlocking capital" will be scrutinized by foreign and domestic investors to assess whether they adequately address current barriers to investment, such as complex ownership structures and foreign exchange controls.
Success of Vietnam's national startup strategy will be measured against its 2030 and 2045 targets. Progress will be tracked via domestic reporting and international benchmarks, including the Global Innovation Index and various startup ecosystem rankings. The resolution provides a roadmap and public commitments, creating accountability for fostering an environment where Vietnam’s next generation of unicorns can emerge and thrive.
