There are currently around 80,000 technology enterprises nationwide, 1.4 times the number recorded in 2020. The sector’s total revenue in 2025 was estimated at 198 billion USD, up nearly 26% compared with 2024.
Numerous digital products and services have been exported to demanding markets such as the US, Europe and Japan, generating approximately 15 billion USD annually and showcasing Vietnamese ingenuity on the global stage.
Digital technology firms are also spearheading new growth drivers: 5G networks now cover 90% of the population; e‑commerce has surged, projected to reach 36 billion USD in 2025, triple the 2020 figure; digital payments have expanded rapidly, with the value of cashless transactions in 2025 equal to 26 times GDP and more than 20 billion non‑cash transactions.
There are currently around 80,000 technology enterprises nationwide, 1.4 times the number recorded in 2020. The sector’s total revenue in 2025 was estimated at 198 billion USD, up nearly 26% compared with 2024.
At the same time, tech firms are accelerating digital transformation across sectors including energy, transport, environment, health and education.
However, the technological capacity and expertise of Vietnamese enterprises remain limited and uneven. Viet Nam lacks a substantial number of large technology companies with the resources and influence to lead supply chains.
Domestic digital talent does not yet meet practical development needs, particularly in emerging fields such as semiconductors, artificial intelligence and chip design.
The reasons include regulatory thinking that has not kept pace with technological change; a risk‑averse culture and reluctance to assume responsibility when proposing pilot mechanisms for new models; support policies that lack substance; and the absence of mechanisms tailored to the specific characteristics of tech firms.
In addition, many enterprises have limited financial strength, managerial capability and vision, and continue to adopt short‑term development approaches. Crucially, a lack of trust among companies hampers the formation of alliances and ecosystems capable of competing effectively.
Experts argue that to achieve double‑digit growth driven primarily by science, technology, innovation and digital transformation, Viet Nam must introduce breakthrough mechanisms and policies to foster large, strong tech enterprises capable of mastering core technologies and shaping markets.
These firms would act as “locomotives”, building ecosystems, guiding small and medium‑sized enterprises to capture and dominate the domestic market, and then gradually expanding internationally to participate more deeply in global supply chains.
Success will not come from policy alone; it will also demand a pioneering, risk‑taking spirit within the tech community and a strong drive to break through, enabling Viet Nam to become a new regional and global technology hub.
The State should also act as a “major customer” by developing procurement policies and public ordering for Vietnamese digital products and services. Encouraging agencies to shift from direct public investment to commissioning turnkey digital services would help stabilise the finances of tech firms.
Moreover, policies are needed to train, attract and retain high‑quality technology talent. Training must shift from “teaching what schools can provide” to “teaching what the market requires”, while strengthening work‑based learning to produce a workforce with proven practical capability.
Success will not come from policy alone; it will also demand a pioneering, risk‑taking spirit within the tech community and a strong drive to break through, enabling Viet Nam to become a new regional and global technology hub.
