Hanoi (VNA) – The Government has issued Resolution No. 86/NQ-CP promulgating the national strategy on innovative start-ups, aiming to foster a wave of innovation-driven entrepreneurship across society, grounded in science, technology and digital transformation.
The strategy also seeks to position start-ups as a key driver of socio-economic growth, improve living standards, advance industrialisation and modernisation, strengthen national self-reliance, and promote rapid and sustainable development. Ultimately, Vietnam aspires to become a leading hub for innovative start-ups in the region.
By 2030, the strategy targets a total of 5 million business entities, including at least 10,000 innovative start-ups.
It also sets out that 100% of higher education and vocational training institutions will incorporate innovation and entrepreneurship into their curricula. All essential administrative procedures for business registration are to be conducted digitally, while 60% of business entities are expected to utilise digital tools and platforms, and 40% to adopt shared digital services. A nationwide network of at least 300 innovation hubs, centres and clusters is to be established.
Vietnam aims to rank among the world’s top 40 countries in the Global Innovation Index (GII) and within the top 45 globally in start-up ecosystem rankings. At least five start-ups are expected to achieve valuations of 1 billion USD or more, while the venture capital market is projected to reach a value of 1.5 billion USD.
By 2045, the country aims to rank among the world’s top 30 countries in innovation and start-up development.
Over the same period, the strategy envisions one in every ten citizens engaging in entrepreneurial activity, one enterprise for every 35 citizens, and approximately one innovative start-up for every 5,000 people. At least 100 start-ups are expected to reach valuations exceeding 100 million USD, with the venture capital market expanding to 10 billion USD.
To achieve these objectives, the strategy outlines a range of key tasks and solutions, including raising public awareness, developing shared infrastructure and facilities to support technology-driven and innovation-led start-ups, and establishing community-based innovation spaces tailored to local conditions. It also calls for the selection and development of several national and regional innovation clusters.
In addition, pilot mechanisms will be introduced for controlled testing environments for new products, services and technologies, with priority given to promising sectors such as digital assets, artificial intelligence, financial technology and logistics, in order to attract entrepreneurial talents and international venture capital.
The strategy also emphasises the need to refine the legal framework, enhance human resource development, and expand capital markets and venture investment for innovative start-ups.
Greater international integration and cooperation will be promoted to mobilise external resources while strengthening domestic entrepreneurial capacity. This includes partnerships with at least five reputable international partners to deliver incubation and acceleration programmes meeting global standards in Vietnam, expanding overseas Vietnamese start-up networks, supporting foreign start-ups entering the Vietnamese market, and assisting domestic start-ups in exporting products and services abroad, among other initiatives.
Another key task is to develop infrastructure, tools and institutional frameworks to advance a digital nation grounded in science, technology and innovation. This includes piloting a digital start-up visa policy to attract technology talents to work in Vietnam, as well as piloting visa exemptions and multiple-entry arrangements for foreign experts and advisers invited by national and provincial innovation centres and start-up support centres to work in the country, among other measures./.
