Global and Domestic Context
The coming period is expected to bring complex, rapid, and unpredictable developments in the global landscape. The world economy is undergoing profound, comprehensive transformation, driven by the rapid growth of science, technology, and innovation, particularly with the rise of the Fourth Industrial Revolution. Sustainable development, inclusive growth, and green growth are becoming increasingly urgent. The polarization and separation of economies are becoming more evident due to conflicts, wars, geopolitical competition, and economic and geopolitical tensions across the globe.
Domestically, Vietnam enjoys a stable political and social environment, with the country’s international reputation and economic strength growing steadily. However, challenges remain, such as increasing environmental pollution, climate change, resource scarcity, public health issues, and an aging population. These challenges highlight the urgent need for science, technology, and innovation to contribute to solving national issues and driving economic development.
Opportunities and Challenges for Vietnam’s Startup Ecosystem
These global trends create both opportunities and challenges for Vietnam’s startup ecosystem. The international context provides shared opportunities for many nations, but fierce competition is expected. Developing countries like Vietnam will face certain difficulties in capitalizing on these opportunities. Hence, Vietnam must continue to strengthen its innovation-driven startup ecosystem to ensure growth and stability.
Proposed Solutions for Strengthening the Ecosystem
- Refining Legal Framework and Policies:
- Improve regulations to recognize key players in the innovation ecosystem, such as startups, angel investors, incubators, business accelerators, co-working spaces, and technical facilities. Offer consistent and integrated incentives across tax, investment, and other relevant laws.
- Pilot specific policies and mechanisms, such as using public funds to invest in innovative startups and establishing government-backed investment funds that comply with international standards for capital preservation.
- Promote awareness and recognition of outstanding organizations and individuals in innovation and startup activities.
- Mobilizing Public Sector Resources:
- Continue central and local government support to prevent disruption in the startup ecosystem’s development.
- Support the commercialization of research and intellectual property, particularly through university and research institute spin-offs.
- Strengthen collaboration between public and private sectors, as well as international partnerships, to enhance research, development, and innovation activities.
Request Full Report & Join the Network
Interested in the full Vietnam Startup Ecosystem Report 2024? Join our network by making a request:
- Receive the full report for comprehensive insights.
- Get listed in the 2025 report and showcase your impact.
- Collaborate in building the next report with expert contributions.
- Sponsor the report development and gain exclusive exposure.
Stay updated on Vietnam’s innovation landscape by following us on NSSC’s official website.
