Hanoi, December 14, 2025 – The Europe Today: Prime Minister Phạm Minh Chính on Saturday said Việtnam is poised to become an attractive destination for technology talent and innovative startup communities from the region and around the world, as he addressed the opening ceremony of TechFest Vietnam 2025 in Hànội.
The National Innovation Startup Festival 2025 (TechFest Vietnam 2025), themed “Nationwide Innovation and Entrepreneurship – The New Growth Engine,” is jointly organised by the Ministry of Science and Technology and the Hà Nội People’s Committee.
In his remarks, the Prime Minister praised ministries, local authorities, the TechFest Organising Committee, as well as experts, scientists, businesses and international partners for their active contributions to building Việtnam’s startup ecosystem and advancing digital transformation.
Prime Minister Chính noted that in recent years, the Party and the State have continuously introduced guidelines, mechanisms and policies to promote startups, innovation and digital transformation. The Politburo has issued a series of strategic resolutions — including Resolutions 57, 59, 66, 68, 70, 71 and 72 — identifying science, technology, innovation and digital transformation as major strategic breakthroughs.
To implement these orientations, the Government has launched action programmes aimed at developing a startup- and innovation-driven nation based on advanced technologies, an open institutional framework, modern infrastructure, smart governance and high-quality human resources. These efforts are also intended to foster an independent and self-reliant economy with deep, substantive and effective international integration.
As a result, Việtnam’s position in the Global Innovation Index has improved significantly, rising from 71st out of 132 economies in 2010 to 44th out of 133 in 2025. Digital platforms have expanded rapidly, with 3G and 4G coverage reaching nearly 95 per cent of the population and 5G services being rolled out nationwide. The United Nations ranked Việtnam 71st among 193 countries in the 2024 E-Government Development Index, an increase of 15 places compared to 2022.
Despite these achievements, the Prime Minister acknowledged that Việt Nam’s startup and innovation ecosystem still trails some regional peers due to its later starting point and has yet to fully realise the potential and capabilities of its people.
With the overarching goal of enhancing productivity, quality, efficiency and competitiveness, Prime Minister Chính called on ministries, sectors and localities — particularly the Ministry of Science and Technology — to further improve institutions and policies, remove barriers to new business and technology models, and adopt a more flexible approach to piloting innovative initiatives. He stressed the importance of establishing open, transparent mechanisms for risk management and supervision.
The Prime Minister also urged greater investment in technological infrastructure, innovation centres, shared digital infrastructure and unified platforms to support enterprises in accounting, taxation, human resource management and finance.
Highlighting key breakthrough tasks, he called for accelerating digital transformation so that 100 per cent of administrative procedures for citizens and businesses are conducted in a digital environment regardless of administrative boundaries, moving towards a paperless administration. He also emphasised the development of virtual assistants to support the operations of government agencies and units.
In addition, Prime Minister Chính underscored the need to establish credit guarantee mechanisms and specialised lending for technology- and intellectual property-based startup projects, develop venture capital funds at national and local levels — including State-owned, private, academic and public-private partnership models — and ensure the effective operation of a dedicated stock exchange for innovative startups.
He instructed the Ministry of Science and Technology to finalise and submit the National Strategy on Innovative Startups by December 2025. The Prime Minister also called on Hànội to provide strong support for innovation and startup development so that the capital, as the “heart of the nation,” becomes a dynamic hub for nurturing new ideas and inventions, enabling Vietnamese enterprises to expand regionally and globally.
