Vietnam is entering a pivotal phase in implementing its National Strategy for Innovative Entrepreneurship through 2045. The goal is not merely to reach 10,000 startups by 2030, but, more importantly, to build a self-reliant ecosystem capable of achieving breakthroughs.
At the same time, innovation is no longer just a movement; it has become an important driver of economic growth. This makes institutional breakthroughs and the mobilization of resources essential. The institutional framework must take the lead, playing an enabling role by paving the way and creating a transparent and flexible environment for emerging economic models, new technologies, and investors, angel investors, and venture capitalists across all sectors.
venture capital, angel investment, and funding from large corporations.
According to Hoang Minh, Deputy Minister of Science and Technology, the National Strategy for Innovative Entrepreneurship represents a highly important shift in thinking. Under this strategy, innovative entrepreneurship is not just a matter for startups, but a driving force for all businesses, organizations, and society as a whole. Hoang Minh emphasized that the strategy aims to create a favorable environment and the necessary conditions for people from all walks of life to launch businesses more quickly, easily, and effectively.
“This is a national strategy in which the entire population engages in entrepreneurship, turning the whole country into a startup nation. This also means that innovative entrepreneurship is not an end in itself. The ultimate goal is to create competitive technology companies, bring technologies and research outcomes into production and business activities, and generate products, jobs, and value for the economy,” the Deputy Minister of Science and Technology said.
To foster the development of the startup ecosystem, speakers agreed that solutions are needed to unlock venture capital. A strong ecosystem requires appropriate funding streams, not just traditional bank financing, but also synergies among venture capital, angel investment, and funding from large corporations.
In particular, the establishment of a National Venture Capital Fund would represent more than just a source of financing. It would serve as a core force in shaping a guiding vision, built on connections across the entire ecosystem to directly address urgent technological challenges facing the nation, localities, and businesses.
Accordingly, the establishment of a National Venture Capital Fund will be closely tied to the ambition of building a self-reliant ecosystem in which technology becomes a key driver of Vietnam’s breakthrough and rising standing on the global innovation map. The fund is currently being established, with operations expected to begin in late December 2026.
Under the proposed framework, priority will be given to companies with strong technological foundations, clear business models, and growth potential. The funds are designed to mobilize resources from across society to support innovative startups and projects with the potential for breakthrough growth. In particular, they will operate according to market principles, accept risks in a controlled manner, and prioritize high technology, digital technology, strategic technologies, and sustainable development.
In addition to domestic funding, international capital is also considered crucial. The early establishment of a venture capital network is expected to drive a breakthrough in the startup ecosystem. Venture capital not only directly contributes to innovation but also generates added value for businesses.
Representing an international investment fund, Guley Sergey Nikolaevich, Chairman of the Russian Federation’s Zdravnitsa Fund for Innovation and Social Development, said the Comprehensive Strategic Partnership between Vietnam and Russia had laid an important foundation for promoting economic, investment, scientific, and technological cooperation between the two countries in a new phase.
Looking ahead, he said Zdravnitsa aims to connect international investment funds and the BRICS ecosystem with Vietnam; promote cooperation in AI, financial technology, and digital transformation; develop logistics, seaports, and import-export activities; and foster collaboration in tourism, cultural industries, and international exchange programs.
“Zdravnitsa, the BRICS Project Alliance, and international partners have been discussing a range of strategic cooperation programs in Vietnam, with investment plans worth billions of US dollars in areas such as tourism and logistics infrastructure, high-tech agriculture, science and technology, import-export and international finance, and sustainable development projects in Vietnam. We believe that the future of international cooperation lies not only in capital flows, but also in building trust and connecting knowledge, technology, and visions of sustainable development across countries. Vietnam is facing a historic opportunity to become a new hub connecting Asia’s innovation-driven economy,” Guley Sergey Nikolaevich said.
Vietnam is developing a legal framework and open policies supported by interconnected mechanisms, including digital markets and links with international investors. This may be a pivotal moment for the country to focus on financial policy support, work alongside businesses, and accelerate the implementation of new mechanisms.
In its startup development strategy, Vietnam is seeking not only capital but, more importantly, knowledge, operational experience, and the ability to connect its domestic ecosystem with international markets. Therefore, investors coming to Vietnam bring more than funding: they also bring experience, expertise, connections, and a long-term vision.
(Source: Business Forum Magazine)
