According to Deputy Minister of Science and Technology Hoang Minh, innovative startups are no longer a trend but have become an inevitable driving force to improve productivity, quality and national competitiveness, and are the solution to the problem of rapid and sustainable development of the country.
Deputy Minister of Science and Technology Hoang Minh speaks at SURF 2025.
According to the report “Global Startup Ecosystem Index 2025” published by StartupBlink, Vietnam rose one place to 55th place in the global rankings, continuing to affirm the improvement in the quality of the startup ecosystem.
In Southeast Asia, Vietnam maintained its 5th position after Singapore, Indonesia, Malaysia and Thailand; and ranked 11th in the Asia- Pacific region. Notably, Vietnam has risen to 28th globally in terms of the number of startups – showing a rapid increase in the size and vitality of the startup community.
Vietnam's startup ecosystem is assessed to be increasingly diverse and specialized with many areas of strong growth, such as financial technology (Fintech), artificial intelligence (AI), educational technology (Edtech), medical technology (Healthtech) and circular economy.
Along with typical unicorns such as MoMo and Sky Mavis, many new potential startups in the fields of blockchain, cloud computing and digital logistics have begun to expand to the region and the world. Vietnam is increasingly affirming its position as one of the most dynamic and attractive innovation hubs in Southeast Asia.
However, Deputy Minister Hoang Minh also pointed out that, in addition to the achieved results, Vietnam's startup ecosystem still has many limitations. The number of organizations and individuals starting a business is still low; the number of new S&T enterprises only accounts for about 0.4% of the total number of enterprises and so far there are only 2 unicorns.
The ability of Vietnamese enterprises to expand into international markets is still weak; venture capital flows have tended to decrease in recent years and the participation of domestic venture capital flows is still very low.
The interaction between the elements in the Vietnamese startup ecosystem is not yet sustainable, startup activities are mostly spontaneous, lacking direction and organization. This leads to startups being mostly small, not competitive enough in the region, and not effectively exploiting research results and local knowledge.
The spirit of innovation and entrepreneurship has not been widely spread throughout society, and has not yet promoted the strength of the entire population to create a comprehensive ecosystem; in which a culture and correct awareness of entrepreneurship are formed, daring to accept risks, tolerant of failure, encouraging differences, continuously innovating and adapting to create a driving force for continuous development.
According to Mr. Hoang Minh, the above limitations are partly due to the fact that legal regulations related to startups are not complete and consistent from central to local levels, and do not meet the requirements of the rapid development of science and technology, innovation and digital transformation as well as startup activities.
Source: https://doanhnghiepvn.vn/cong-nghe/he-sinh-thai-khoi-nghiep-viet-nam-ngay-cang-da-dang-chuyen-sau/20250730032915321
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