At the plenary meeting on June 17, 2025, the Project Steering Committee assessed the implementation results in 2024, approved the 2025 action plan and long-term orientation for the Vietnamese creative startup ecosystem. Delegates agreed that the completion of institutions and policies is a key factor, marking an important turning point in the thinking of developing creative startups. Instead of just supporting the movement, the State now clearly defines its "creating" role through synchronous policies, risky public investment and specialized legal corridors.
Positive changes from the ecosystem
The year 2024 has seen positive signs for the Vietnamese startup ecosystem. According to the latest report by StartupBlink, Vietnam has jumped two places, ranking 56th globally, 5th in Southeast Asia and 12th in the Asia-Pacific region. With about 4,000 startups, Vietnam is currently ranked 31st in the world in terms of the number of startups - a remarkable number for an emerging economy .
This strong rise is the result of more than a decade of investment in building the ecosystem: from technology startups, incubators to angel investors and universities with a desire to innovate. In particular, the emergence of businesses valued at over 100 million USD - including two unicorns Momo and Sky Mavis - is a clear testament to the ecosystem's intrinsic resilience.
Plenary session of the Executive Board of Project 844.
In addition, Vietnam has strengthened international cooperation with many major partners such as the United States, Finland, Germany, Sweden, Korea, Singapore and multilateral organizations such as the World Bank, the United Nations, etc. Cooperation programs help access effective models, connect global networks and attract high-quality resources.
Institutions - the fulcrum for breakthrough development
At the meeting, delegates pointed out many institutional bottlenecks that need to be resolved, such as: lack of consensus on terminology and concepts of KNST in legal documents; difficulties in valuing assets as research results; lack of policies to develop intermediary organizations such as innovation support centers, KNST investment funds, technology exchanges, etc.
Speaking at the meeting, Deputy Minister of Science and Technology Hoang Minh, Head of the Executive Board of Project 844 emphasized: "Over the past years, we have created a vibrant startup movement. But for the ecosystem to truly break through, it is necessary to build a solid institutional foundation, create conditions for startups to develop deeply and attract sustainable capital flows."
In the coming time, a series of major policies are expected to create a strong driving force. It is expected that the National Venture Capital Fund and local investment funds will be established. In particular, a stock exchange dedicated to startups is also expected to be put into operation from July 2025 - helping startups access a transparent and specialized capital market.
In addition, in the Draft Law on Science, Technology and Innovation, the National Technology Innovation Fund is proposed to have a mechanism to directly fund potential startup projects through a transparent selection process.
Currently, 60/63 provinces and cities nationwide have issued plans to implement science and technology activities, of which 40 localities have specific resolutions on budget support. The initiative of localities demonstrates the common determination in creating a synchronous and comprehensive ecosystem nationwide.
Deputy Minister Hoang Minh spoke at the meeting.
Laying the foundation for a new phase of development
The year 2025 is expected to be a turning point in terms of policy and institutions for Vietnam's science and technology. Resolution 57 of the Politburo on breakthroughs in science, technology, and innovation, and Resolution 68 on private economic development are two important policy pillars guiding the new period.
With a gradually improving institutional foundation, coupled with local initiative and extensive international connections, the Vietnamese science and technology ecosystem is facing the opportunity to "take off" strongly - in terms of scale, quality and global integration.
Source: https://mst.gov.vn/khoi-nghiep-sang-tao-viet-nam-truoc-buoc-ngoat-the-che-mang-tinh-chien-luoc-197250618074935913.htm
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