Vietnam will become an attractive destination for technology talent and innovative startup communities from the region and around the world, Prime Minister Pham Minh Chinh emphasised at the opening ceremony of TechFest Vietnam 2025 in Hanoi on December 13 evening.

Prime Minister Pham Minh Chinh and delegates visit booths showcasing products at TechFest Vietnam 2025.

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 Hanoi People’s Committee.

The PM acknowledged and commended ministries, sectors, and localities, especially the Ministry of Science and Technology, the capital city of Hanoi, the TechFest Organising Committee, as well as experts, scientists, the business community, and domestic and international organizations, for their great efforts and significant contributions to the development of the startup and innovation ecosystem and the promotion of national digital transformation, thereby making an important contribution to the country’s overall achievements.

He stressed that in recent years, the Party and the State have consistently paid close attention to and issued numerous guidelines, mechanisms, and policies to promote startups, innovation, and national digital transformation.

The Politburo has promulgated a series of strategic resolutions across various fields, including Resolutions No. 57, 59, 66, 68, 70, 71, and 72, which identify science, technology, innovation, and digital transformation as key breakthroughs.

The Government has issued action programmes to implement these strategic resolutions, aiming to build a startup and innovation-driven nation based on advanced technologies, an open institutional framework, seamless infrastructure, and smart governance and human resources; and to develop an independent, self-reliant economy with deep, substantive, and effective international integration, he added.

As a result, Vietnam’s Global Innovation Index (GII) ranking improved from 71st out of 132 countries in 2010 to 44th out of 133 countries in 2025. Digital platforms have been developing strongly, with 3G/4G coverage reaching nearly 95% of the population and 5G currently being rolled out.

The United Nations ranked Vietnam 71st out of 193 countries in the E-Government Development Index in 2024, an increase of 15 places compared to 2022.

However, the cabinet leader noted that despite encouraging initial results, due to a later starting point, Vietnam’s startup and innovation ecosystem still lags behind those of the region and the world and has yet to fully match the potential, intelligence, and capabilities of the Vietnamese people.

With the overarching goal of improving productivity, quality, efficiency, and national competitiveness, transforming Vietnam into a startup and innovation-driven nation, PM Chinh called on ministries, sectors, and localities, particularly the Ministry of Science and Technology as the core agency, to proactively improve institutions and policies, remove barriers for new business and technology models, accept risks and challenges during the piloting and deployment of new models, and establish synchronised, open, and transparent risk management and supervision mechanisms.

Resources should also be concentrated on investing in technological infrastructure, innovation centres, shared digital infrastructure, and the synchronous operation of platforms supporting enterprises in accounting, taxation, human resource management, and finance.

He highlighted several breakthrough tasks, including accelerating digital transformation so that 100% of administrative procedures serving citizens and businesses are carried out in the digital environment, independent of administrative boundaries, toward a paperless administration; and developing virtual assistants for agencies and units.

He emphasised the need for establishing credit guarantee mechanisms and specialised lending for innovative startup projects based on technology and intellectual property; developing national, local, state-owned, private, academic, and public-private partnership venture capital funds; and effectively operating a dedicated stock exchange for innovative startups.

He requested the Ministry of Science and Technology to urgently finalise and submit the National Strategy on Innovative Startups within December 2025. Hanoi was asked to continue providing strong support and favourable conditions for startup and innovation development, so that the “heart of the nation” becomes a hub for nurturing new ideas, solutions, and inventions, and a solid platform for enterprises to grow and expand regionally and globally.

Research institutes, universities, science and technology organisations, and enterprises should promote startup education from general education to postgraduate levels; build in-depth training systems in STEM, innovation, and technology management; and develop open laboratories, creative spaces, and centres supporting the commercialisation of research outcomes, PM Chinh said.

At the same time, cooperation among the State, schools, scientists, and investors should be strengthened to boost research, technology transfer, and the early application of research results in practice, he noted.

For businesses and investors, the PM stressed the need to fully play their role as the centre of innovation; proactively invest in new technologies and models; participate in incubating and accelerating startups; form leading enterprise ecosystems, particularly in strategic technology fields; expand cooperation with domestic and foreign investment funds; and actively contribute to the development of the national venture capital market in phases.

The public, especially the younger generation, was encouraged to strongly promote the entrepreneurial spirit - daring to think, daring to act, and daring to accept risks and learn from failure as valuable lessons; foster a culture of innovation throughout society; and proactively equip themselves with technological knowledge and digital transformation skills.

The Government leader requested TechFest in the coming years continue to undergo strong innovation, elevate itself to regional and international levels, and deepen connections with domestic and international ecosystems.

It should become a platform to attract international resources, investment funds, experts, and technology corporations; promote negotiations and the signing of investment agreements with technologically advanced countries; and build and effectively operate startup centres, creating conditions for Vietnamese startups to participate, pilot, and expand in the global market.

At the event, Secretary of the Hanoi Party Committee Nguyen Duy Ngoc presented the insignia honouring the achievements of three outstanding teams at the Data for Life Hackathon 2025.

Senior Lieutenant General Nguyen Van Long, Deputy Minister of Public Security and head of the competition’s Steering Committee, also gave vouchers granting access to the Innovation Centre to the teams.

Minister of Science and Technology Nguyen Manh Hung presented the certificates of merit to 10 exemplary localities in developing innovation startup ecosystems in 2025. They are Hanoi, Ho Chi Minh City, Da Nang, Hung Yen, Quang Ninh, Can Tho, Hai Phong, Bac Ninh, Khanh Hoa, and Hue.

The largest in scale to date, TechFest Vietnam 2025, held from December 12 to 14, is expected to attract more than 60,000 participants both in person and online, with the participation of over 20 corporations, 50 investment funds, more than 100 supporting organisations and incubators, and delegates from Southeast Asia, Northeast Asia, Central Asia, the Middle East, North America, and Europe.

A notable highlight of this year’s event is the transformation from a “conference hall event” to an “open-space event,” enabling the public, startups, investors, and academic institutions to interact directly throughout the Hoan Kiem Lake Pedestrian Zone.

Dialogues and seminars are held in open exchange areas, while technology experiences are enhanced through hands-on interactive points.

Within the framework of TechFest Vietnam 2025, a national policy forum on international cooperation in investment for innovative startups was held, drawing more than 100 international experts discussing emerging trends in venture capital investment, technology commercialization, human resource development, and public-private partnership models.

TechFest also features a series of more than 20 international conferences and specialised seminars on AI, data, fintech, green technology, sports technology, the circular economy, and open innovation, along with an exhibition space allowing the public to directly experience AI, IoT, robotics, new materials, and pioneering technological solutions.

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