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Vietnam's Digital Revolution: $152B Startup Surge Ahead

10/6/2025

28 5 Full Breakdown

Summary

Story summary

Vietnam aims to become a high-income economy via innovation and digital transformation.
Nearly 74,000 digital technology startups are projected to generate $152 billion in revenue by 2024.
Research and development investment remains low at 0.42% of GDP, with uneven progress.
Vietnam's government drafts strategic technology schemes, expands development with Qualcomm and Meta, and enacts a law linking research to production.

History

Historical Context

In 1986, Vietnam launched the Doi Moi reforms, transitioning from a centrally planned economy to a socialist-oriented market economy. This shift spurred significant economic growth, with GDP increasing nearly fivefold from $6.472 billion in 1990 to $31.173 billion in 2000. Today, Vietnam aims to become a high-income economy, supported by a projected 74,000 startups generating $152 billion by 2024.

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Story summary

Vietnam aims to become a high-income economy via innovation and digital transformation.
Nearly 74,000 digital technology startups are projected to generate $152 billion in revenue by 2024.
Research and development investment remains low at 0.42% of GDP, with uneven progress.
Vietnam's government drafts strategic technology schemes, expands development with Qualcomm and Meta, and enacts a law linking research to production.

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