According to statistics from the National Innovation Centre under the Ministry of Science and Technology, the country hosts nearly 4,000 start-ups and enterprises operating in the fields of science, technology, and innovation. Additionally, the sector employs more than 30,000 highly skilled workers. In 2025, science and technology enterprises operated effectively, with estimated revenue of more than 196 trillion VND, of which the private sector accounted for 98.5% of these entities.
The Ministry of Science and Technology said it had finalised the legal framework and institutional policies, notably by submitting to the Government for issuance Decree No. 268/2025/ND-CP detailing the Law on Science, Technology, and Innovation, formalising criteria for recognising innovative start-ups. The ministry also submitted for issuance Decree No. 264/2025/ND-CP on venture capital funds to unlock capital flows, and Decree No. 271/2025/ND-CP to create a mechanism for research institutes and universities in Ha Noi to establish spin-off enterprises.
Decentralisation and delegation have been promoted through Decree No. 133/2025/ND-CP, which fully assigns procedures for recognising high-tech enterprises to provincial-level People’s Committees. The strategy for developing the national innovation system has been substatiated through the 2025 Action Programme for the innovation sector and orientations to 2030, together with the development of a network of innovation centres in key localities.
The science and technology market has achieved significant milestones with the launch of the national science and technology exchange, which connects data with 19 local exchanges.
However, according to experts, although the number of science and technology enterprises is relatively large, few operate on a large scale. Hoang Duc Thao, Chairman of the Viet Nam Association of Science and Technology Enterprises, said enterprises under the association have hundreds of initiatives that yield benefits for businesses and society. Some technology enterprises record annual revenue of tens of trillions of VND, demonstrating the potential and economic strength they can generate. However, opportunities for breakthrough remain limited due to constraints in technology, capital, human resources, networks, and competition among enterprises pursuing similar goals.
While most research results remain at the laboratory testing stage, technology enterprises need technologies that have been validated and can be quickly commercialised. The absence of professional technology transfer intermediary organisations has limited connections between scientists and enterprises, elevating costs, time, and risks for start-ups seeking access to new technologies.
Industry consensus indicates a pressing need to develop professional technology transfer intermediary organisations to connect research institutes and universities with enterprises more effectively. Building mechanisms to support enterprises in accessing technology, establishing digital technology exchanges and risk-sharing matching funds for technology transfer will help reduce research costs and share risks in the process of completing technologies and commercialising products.
According to Dr Dang Duc Anh, Acting Director of the Institute for Policy and Strategy Research under the PCC Commission for Policy and Strategy, to alleviate challenges facing science and technology enterprises, it is necessary to strengthen connectivity among management agencies, research institutes, universities, and enterprises in order to promote the transfer and commercialisation of research results. At the same time, mechanisms are needed to support enterprises in investing in research and development activities, accessing preferential capital, new technologies, and high-quality human resources.
