9:58:48 AM | 5/2/2026
Amid intensifying competition to attract global investment flows, the Government’s issuance of Resolution 86/NQ-CP on the national strategy for innovation-driven startups is seen as a key move. It not only reshapes the approach to developing the startup ecosystem but also opens a policy runway to welcome venture capital, creating momentum for innovative enterprises to grow in the coming period.
Vietnam’s first NVIDIA DGX B200 supercomputer, operated by Viettel Group
Looking back, Vietnam’s innovation-driven startup ecosystem has made notable progress. The emergence of “unicorn” companies, along with growing interest from international investment funds, reflects the market’s appeal. In 2025, Vietnam ranked 55th globally for its startup ecosystem; Ho Chi Minh City was among the top five in Southeast Asia, while Hanoi and Da Nang both improved their rankings significantly.
Beyond the numbers, the support system for startups is gradually taking shape with the participation of various stakeholders, including venture capital funds, incubators, business accelerators, and innovation centers. However, bottlenecks in the institutional framework, access to capital, and workforce quality remain barriers that prevent many innovative ideas from scaling.
As global investment flows continue to shift and destination selection becomes more demanding, Vietnam must go beyond improving the business environment and build a strategy that can compete at both regional and international levels. Resolution 86 responds to this challenge by focusing on building an open, flexible, and deeply integrated startup ecosystem.
Fostering a nationwide entrepreneurial spirit for sustainable capital inflows
A key feature of the strategy is placing people at the center and viewing innovation-driven entrepreneurship as a nationwide effort. This carries not only social significance but also builds investor confidence, as investors look for markets with a dynamic, creative workforce ready to innovate.
The strategy aims to build a country where every citizen has the opportunity to start a business based on science, technology, and digital transformation. A culture of bold thinking, action, risk-taking, and tolerance for failure is expected to spread widely, helping to shape an innovation culture that has driven the success of countries such as Israel, South Korea, and Singapore.
From an economic perspective, this forms the basis for a deeper startup ecosystem, generating a pipeline of high-quality innovative enterprises, a key factor in attracting long-term venture capital. When the ecosystem is strong, capital will come not only for short-term opportunities but will also follow a long-term development vision.
The strategy also sets clear targets: by 2030, Vietnam aims to become a leading country in the region for innovation-driven startups, with tens of thousands of new enterprises and the emergence of more “unicorns.” Further ahead, by 2045, Vietnam aims to rank among the top 30 countries globally in innovation, supported by a strong venture capital market.
Improving institutions for venture capital growth
To achieve the goal of attracting global capital, the strategy focuses on removing systemic constraints, with institutional reform identified as the key breakthrough.
Improving the legal framework to make it more open, transparent, and suited to startups is a top priority. Notably, new mechanisms such as the “single-member enterprise” model, streamlined bankruptcy procedures, and regulatory sandboxes for new technologies are expected to reduce risk and allow faster testing of innovative ideas. These measures are also important in strengthening international investor confidence.
Alongside institutional reform, efforts to develop human capital and supporting infrastructure are being accelerated. From introducing entrepreneurship education in schools to building innovation centers, co-working spaces, and digital platforms, these measures aim to create a supportive environment for enterprise growth.
In particular, the strategy places strong focus on unlocking capital flows. The venture capital market will be developed in a layered structure, with participation from both the public and private sectors. Financial support mechanisms and credit guarantees based on intellectual property are expected to expand access to funding for startups, which often face difficulties due to the lack of traditional collateral.
At the same time, deeper international integration, attracting experts, and connecting Vietnamese enterprises to global value chains will help strengthen competitiveness while enabling international capital to flow into the market in a sustainable way. Resolution 86 is not only a strategic direction but also a clear signal of Vietnam’s determination to become an attractive destination for global venture capital. With the policy runway now open, the key question is the pace of implementation and the ability of the business community to seize opportunities. If carried out effectively, Vietnam has a solid basis to enter a new growth cycle, where innovation and entrepreneurship become core drivers of the economy.
By Le Hien, Vietnam Business Forum
Vietnamese
