In addition, Viet Nam needs to prioritise the development of several key industries, including semiconductors, artificial intelligence (AI), new materials, quantum technology, green industries, and the energy industry.
According to experts, AI, semiconductors, new materials, and quantum technology are not merely leading technology trends but pillars that will shape the future of the global economy. For a country undergoing rapid development like Viet Nam, with the right strategic positioning and commensurate investment, these strategic technologies can become “levers” for activating new growth drivers, enhancing national competitiveness, and helping the country move further up global value chains.
Accelerating the transition
According to Vu Quoc Huy, Director of the National Innovation Centre (NIC) under the Ministry of Finance, Viet Nam is entering a critical phase of transformation amid the powerful wave of the Fourth Industrial Revolution. Strategic technologies such as AI, semiconductors, biotechnology, renewable energy, and big data are reshaping global value chains and profoundly transforming the structure of economies.
An NIC report titled “Viet Nam’s AI economy: Breakthrough opportunities and strategic development directions” points out that AI is driving far-reaching transformation worldwide and has become a top priority in the digital transformation strategies of many governments and major corporations. The Boston Consulting Group forecasts that by 2040, Viet Nam’s AI economy could reach a value of 120–130 billion USD.
The report emphasises that strategic investment in AI will help Viet Nam take a leading position in the region in innovation and strengthen its standing in the global digital economy. At the same time, the development and application of AI will accelerate the transition towards a growth model driven by science and technology.
Alongside AI, the semiconductor industry is also asserting its role as a pillar of the global economy, recording nearly 300 billion USD in revenue in the first quarter of 2026, up 25% from the previous quarter. As the backbone of most high technologies, semiconductors will play a decisive role in determining the competitive advantages of countries in the future.
Although Viet Nam is still a late entrant to the field, it is considered to have sufficient potential and favourable conditions to accelerate the development of its semiconductor ecosystem and participate effectively in global supply chains. Major technology groups such as NVIDIA, Qualcomm, Lam Research, Qorvo, and AlChip have expanded their research and development (R&D) centres and shifted parts of their semiconductor supply chains to Viet Nam.
Domestically, companies such as Viettel, FPT, and Phenikaa, together with promising start-ups including Infrasen, VnChip, and Hyphen Deux, are actively implementing a range of semiconductor projects. A key factor underpinning this momentum is human resources: Viet Nam has a young population, accounting for more than 60% of its total population, with 1.9 million IT workers, including around 7,000 semiconductor chip design engineers.
Mastering technology
In the spirit of Resolution No. 19-NQ/TW, strategic technologies such as AI are no longer viewed merely as economic sectors but are being elevated into intellectual infrastructure and high-quality productive forces capable of reshaping the entire economic model. Viet Nam aims to master strategic technologies to create a breakthrough towards becoming a high-income country.
Agreeing that Viet Nam’s growth “engine” needs new “fuel” in the form of knowledge and technology, Professor Merit Janow of Columbia University stressed that Viet Nam cannot transition to a new development model simply by purchasing or importing technologies or inviting foreign technology corporations to invest. Technology can only truly become a strategic asset when it is mastered, applied, and commercialised into products and services that generate high added value.
This orientation also brings an entirely new role for the state. Whereas the focus in the past was on maintaining a stable environment and attracting investment, the state must now act as an institutional enabler of innovation: from establishing policy-testing mechanisms (sandboxes) and connecting businesses with universities and research institutes to building confidence through a transparent legal environment and consistent enforcement. Strategic technology is a “litmus test” of a country’s development capacity. New competitive advantages will depend on knowledge, talent, the technological capabilities of domestic businesses and institutions that are sufficiently flexible to foster innovation and sufficiently transparent to strengthen confidence.
According to Nguyen Phu Hung, Director-General of the Department of Science and Technology under the Ministry of Science and Technology, developing strategic technologies requires an entirely different management approach from that used for conventional science and technology tasks. Strategic technologies address larger challenges over longer cycles, involve higher levels of technological risk, and require the simultaneous participation of businesses, research institutes, universities, and regulatory authorities.
To meet these requirements, a series of new policies are being implemented to establish a framework for mobilising national resources, with the aim of mastering strategic technologies and commercialising products. These include the national special programme on strategic technologies and Decree No. 260/2026/ND-CP detailing and providing measures for the implementation of a number of articles of the Law on High Technologies, together with accompanying circulars and guidelines. The overarching thinking behind these new policies is a shift from “managing research projects” to “governance aimed at creating technologies and products”, with the common goal of creating an open, streamlined, and optimised “runway” for the development of strategic technologies.
