The strategy, unveiled on Monday, outlines a vision of Vietnam as an innovation-driven startup nation in which individuals can launch businesses based on science, technology, innovation, and digital transformation.

The government hopes there will be five million business entities by 2030, including at least 10,000 innovative startups.It also wants Vietnam to rank among the top 40 countries in the Global Innovation Index.

The plan includes having five unicorns, or startup companies valued at over US$1 billion, and expanding the venture capital market to $1.5 billion in size.

The National Innovation Center at Hoa La High-Tech Park, Hanoi. Photo by VnExpress/Giang Huy

By 2045, besides having 10% of the population engaged in entrepreneurship, the government also seeks to have one enterprise for every 35 people and one innovative startup for every 5,000.

To support these targets, the strategy outlines a number of tasks and solutions, focusing on raising awareness and promoting an entrepreneurial culture. The government plans to develop shared infrastructure, including workspaces and digital platforms, to support startup activity, and improving legal frameworks to encourage broader participation. To ensure workforce for innovation-led entrepreneurship, it will focus on education and training.

The strategy encourages the development of innovation-oriented universities, venture capital funds within academic institutions and research-based enterprises. The government will also introduce direct support measures, including waiving 100% of fees for intellectual property registration during the first five years.

It will also cover some costs for research, production, product testing, technology verification, legal consulting, risk insurance, training, and salaries for foreign technology experts. Resources for entrepreneurship will be mobilized from both the public and private sectors.

The strategy also highlights the role of government agencies and local authorities in building startup ecosystems suited to regional conditions and establishing innovation centers and support networks.